Toronto Dominion Bank Increases Position in Weyerhaeuser Co (WY)
Toronto Dominion Bank lifted its position in Weyerhaeuser Co (NYSE:WY) by 13.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 329,907 shares of the real estate investment trust’s stock after buying an additional 39,470 shares during the period. Toronto Dominion Bank’s holdings in Weyerhaeuser were worth $11,633,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Davidson Investment Advisors raised its stake in Weyerhaeuser by 0.9% in the fourth quarter. Davidson Investment Advisors now owns 235,830 shares of the real estate investment trust’s stock worth $8,315,000 after buying an additional 2,161 shares in the last quarter. Retirement Systems of Alabama raised its stake in Weyerhaeuser by 39.8% in the fourth quarter. Retirement Systems of Alabama now owns 510,827 shares of the real estate investment trust’s stock worth $18,012,000 after buying an additional 145,534 shares in the last quarter. Pinnacle Financial Partners Inc. raised its stake in Weyerhaeuser by 12.6% in the fourth quarter. Pinnacle Financial Partners Inc. now owns 65,128 shares of the real estate investment trust’s stock worth $2,296,000 after buying an additional 7,303 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in Weyerhaeuser by 27.6% in the fourth quarter. Cetera Advisor Networks LLC now owns 23,276 shares of the real estate investment trust’s stock worth $819,000 after buying an additional 5,029 shares in the last quarter. Finally, Barings LLC raised its stake in Weyerhaeuser by 179.5% in the fourth quarter. Barings LLC now owns 1,289,013 shares of the real estate investment trust’s stock worth $45,451,000 after buying an additional 827,804 shares in the last quarter. Hedge funds and other institutional investors own 74.69% of the company’s stock.
In related news, insider Rhonda D. Hunter sold 23,343 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $36.12, for a total value of $843,149.16. Following the transaction, the insider now directly owns 98,973 shares of the company’s stock, valued at approximately $3,574,904.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.
Weyerhaeuser (NYSE:WY) last released its earnings results on Friday, February 2nd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.04). Weyerhaeuser had a net margin of 8.09% and a return on equity of 9.62%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company earned $0.14 earnings per share. Weyerhaeuser’s revenue was up 14.2% on a year-over-year basis. equities research analysts anticipate that Weyerhaeuser Co will post 1.34 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 2nd will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Thursday, March 1st. Weyerhaeuser’s payout ratio is 152.38%.
A number of brokerages recently commented on WY. TheStreet raised shares of Weyerhaeuser from a “c+” rating to a “b-” rating in a research note on Wednesday, November 8th. Zacks Investment Research downgraded Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Saturday, February 10th. Stephens began coverage on Weyerhaeuser in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $35.00 price target on the stock. Argus upped their price target on Weyerhaeuser from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, Bank of America raised Weyerhaeuser from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $37.44.
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Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.
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