Mirae Asset Global Investments Co. Ltd. Sells 14,046 Shares of Weyerhaeuser (NYSE:WY)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Weyerhaeuser (NYSE:WY) by 11.5% in the fourth quarter, HoldingsChannel reports. The firm owned 108,085 shares of the real estate investment trust’s stock after selling 14,046 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Weyerhaeuser were worth $3,758,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WY. Norges Bank bought a new stake in Weyerhaeuser in the fourth quarter valued at about $485,095,000. Wellington Management Group LLP grew its stake in Weyerhaeuser by 22.7% in the third quarter. Wellington Management Group LLP now owns 19,299,328 shares of the real estate investment trust’s stock valued at $591,717,000 after acquiring an additional 3,573,013 shares during the period. Jupiter Asset Management Ltd. grew its stake in Weyerhaeuser by 376.3% in the third quarter. Jupiter Asset Management Ltd. now owns 2,068,432 shares of the real estate investment trust’s stock valued at $63,418,000 after acquiring an additional 1,634,125 shares during the period. BlackRock Inc. grew its stake in Weyerhaeuser by 2.5% in the first quarter. BlackRock Inc. now owns 60,389,476 shares of the real estate investment trust’s stock valued at $1,819,535,000 after acquiring an additional 1,484,895 shares during the period. Finally, FMR LLC grew its stake in Weyerhaeuser by 64.5% in the third quarter. FMR LLC now owns 3,169,142 shares of the real estate investment trust’s stock valued at $97,166,000 after acquiring an additional 1,242,972 shares during the period. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 2.2 %

WY stock opened at $31.97 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.94 and a quick ratio of 2.22. The stock has a market capitalization of $23.33 billion, a P/E ratio of 27.80 and a beta of 1.43. The business has a 50-day moving average of $34.21 and a 200-day moving average of $32.66. Weyerhaeuser has a fifty-two week low of $28.12 and a fifty-two week high of $36.27.

Weyerhaeuser (NYSE:WY) last released its earnings results on Friday, January 26th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Weyerhaeuser had a return on equity of 7.36% and a net margin of 10.93%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the company posted $0.24 earnings per share. Weyerhaeuser’s revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts anticipate that Weyerhaeuser will post 1.03 earnings per share for the current fiscal year.

Weyerhaeuser Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.50%. The ex-dividend date was Thursday, March 7th. This is a positive change from Weyerhaeuser’s previous quarterly dividend of $0.19. Weyerhaeuser’s dividend payout ratio is presently 69.57%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WY shares. Truist Financial reissued a “hold” rating and issued a $36.00 target price on shares of Weyerhaeuser in a research note on Wednesday, April 3rd. CIBC set a $37.00 target price on Weyerhaeuser and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Royal Bank of Canada reissued an “outperform” rating and issued a $39.00 target price on shares of Weyerhaeuser in a research note on Monday, January 29th. StockNews.com cut Weyerhaeuser from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Finally, BMO Capital Markets upped their price objective on Weyerhaeuser from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.00.

Insider Buying and Selling

In related news, SVP Keith O’rear sold 8,349 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $36.03, for a total transaction of $300,814.47. Following the sale, the senior vice president now owns 170,665 shares in the company, valued at $6,149,059.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Weyerhaeuser news, CFO David M. Wold sold 924 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $32.84, for a total value of $30,344.16. Following the sale, the chief financial officer now owns 60,655 shares in the company, valued at $1,991,910.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Keith O’rear sold 8,349 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $36.03, for a total value of $300,814.47. Following the completion of the sale, the senior vice president now owns 170,665 shares in the company, valued at approximately $6,149,059.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,699 shares of company stock worth $1,455,609. Corporate insiders own 0.30% of the company’s stock.

Weyerhaeuser Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.