Kornitzer Capital Management Inc. KS Sells 16,419 Shares of Weyerhaeuser (NYSE:WY)

Kornitzer Capital Management Inc. KS lessened its stake in shares of Weyerhaeuser (NYSE:WY) by 72.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,400 shares of the real estate investment trust’s stock after selling 16,419 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Weyerhaeuser were worth $223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Weyerhaeuser during the 4th quarter valued at $485,095,000. Wellington Management Group LLP increased its stake in shares of Weyerhaeuser by 22.7% in the 3rd 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 buying an additional 3,573,013 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of Weyerhaeuser by 376.3% in the 3rd 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 buying an additional 1,634,125 shares during the period. BlackRock Inc. increased its stake in shares of Weyerhaeuser by 2.5% in the 1st quarter. BlackRock Inc. now owns 60,389,476 shares of the real estate investment trust’s stock valued at $1,819,535,000 after buying an additional 1,484,895 shares during the period. Finally, FMR LLC increased its stake in shares of Weyerhaeuser by 64.5% in the 3rd quarter. FMR LLC now owns 3,169,142 shares of the real estate investment trust’s stock valued at $97,166,000 after buying an additional 1,242,972 shares during the period. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Performance

Shares of Weyerhaeuser stock opened at $31.47 on Monday. The firm has a market cap of $22.96 billion, a price-to-earnings ratio of 27.37 and a beta of 1.43. The stock’s 50-day moving average is $34.11 and its 200-day moving average is $32.70. Weyerhaeuser has a one year low of $28.12 and a one year high of $36.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.94 and a quick ratio of 2.22.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Friday, January 26th. The real estate investment trust reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.82 billion. Weyerhaeuser had a return on equity of 7.36% and a net margin of 10.93%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. Equities analysts predict 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 2.54%. 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

WY has been the subject of several research reports. BMO Capital Markets lifted their target price on Weyerhaeuser from $36.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. StockNews.com cut Weyerhaeuser from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Truist Financial reaffirmed a “hold” rating and set a $36.00 price objective on shares of Weyerhaeuser in a research note on Wednesday, April 3rd. CIBC set a $37.00 price objective on Weyerhaeuser and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 price objective on shares of Weyerhaeuser in a research note on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.00.

Insider Buying and Selling

In other Weyerhaeuser news, SVP Keith O’rear sold 8,349 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $36.03, for a total transaction of $300,814.47. Following the transaction, the senior vice president now owns 170,665 shares of the company’s stock, valued at $6,149,059.95. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Keith O’rear sold 8,349 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $36.03, for a total value of $300,814.47. Following the transaction, the senior vice president now owns 170,665 shares of the company’s stock, valued at $6,149,059.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Wold sold 924 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $32.84, for a total value of $30,344.16. Following the completion of the transaction, the chief financial officer now directly owns 60,655 shares in the company, valued at approximately $1,991,910.20. 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 Company 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.