Baird Financial Group Inc. Decreases Stock Position in Weyerhaeuser Company $WY

Baird Financial Group Inc. reduced its position in Weyerhaeuser Company (NYSE:WY) by 18.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 191,132 shares of the real estate investment trust’s stock after selling 43,201 shares during the quarter. Baird Financial Group Inc.’s holdings in Weyerhaeuser were worth $4,910,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Weyerhaeuser in the second quarter valued at approximately $600,502,000. Bank of New York Mellon Corp grew its holdings in Weyerhaeuser by 86.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,550,466 shares of the real estate investment trust’s stock valued at $348,111,000 after buying an additional 6,284,982 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Weyerhaeuser in the 1st quarter worth $107,330,000. Millennium Management LLC raised its holdings in shares of Weyerhaeuser by 2,952.7% during the 1st quarter. Millennium Management LLC now owns 3,130,367 shares of the real estate investment trust’s stock worth $91,657,000 after acquiring an additional 3,027,823 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Weyerhaeuser in the first quarter valued at about $53,061,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 0.8%

Shares of Weyerhaeuser stock opened at $22.11 on Wednesday. Weyerhaeuser Company has a 52-week low of $21.16 and a 52-week high of $31.93. The company has a 50 day moving average of $22.99 and a 200 day moving average of $24.80. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $15.93 billion, a P/E ratio of 49.12, a P/E/G ratio of 130.20 and a beta of 1.08.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.13. Weyerhaeuser had a net margin of 4.68% and a return on equity of 3.04%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The company’s revenue was up 12.1% compared to the same quarter last year. As a group, research analysts forecast that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.8%. The ex-dividend date is Friday, November 28th. Weyerhaeuser’s dividend payout ratio is currently 186.67%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America reaffirmed a “neutral” rating and set a $26.00 target price (down from $29.00) on shares of Weyerhaeuser in a research note on Monday, November 17th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Weyerhaeuser in a research report on Monday, December 1st. DA Davidson cut their target price on Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. JPMorgan Chase & Co. decreased their price target on Weyerhaeuser from $28.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 14th. Finally, Truist Financial lowered their price target on Weyerhaeuser from $29.00 to $27.00 and set a “hold” rating for the company in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Weyerhaeuser has an average rating of “Moderate Buy” and a consensus price target of $28.75.

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.