Allstate Corp Makes New $717,000 Investment in Weyerhaeuser Company $WY

Allstate Corp purchased a new position in Weyerhaeuser Company (NYSE:WY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,921 shares of the real estate investment trust’s stock, valued at approximately $717,000.

A number of other institutional investors have also added to or reduced their stakes in WY. Brighton Jones LLC grew its stake in shares of Weyerhaeuser by 4.2% in the second quarter. Brighton Jones LLC now owns 10,178 shares of the real estate investment trust’s stock worth $261,000 after acquiring an additional 409 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Weyerhaeuser by 1.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 29,419 shares of the real estate investment trust’s stock worth $756,000 after purchasing an additional 445 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its position in Weyerhaeuser by 11.1% during the 2nd quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 5,000 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 500 shares during the last quarter. Cromwell Holdings LLC grew its position in Weyerhaeuser by 58.3% during the 3rd quarter. Cromwell Holdings LLC now owns 1,361 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 501 shares during the last quarter. Finally, Cidel Asset Management Inc. increased its stake in Weyerhaeuser by 6.8% during the 2nd quarter. Cidel Asset Management Inc. now owns 8,167 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 520 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

Insiders Place Their Bets

In other news, Director Sara Grootwassink Lewis acquired 4,500 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was bought at an average cost of $23.61 per share, with a total value of $106,245.00. Following the completion of the purchase, the director directly owned 25,978 shares of the company’s stock, valued at $613,340.58. This represents a 20.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Devin W. Stockfish sold 90,162 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $23.33, for a total value of $2,103,479.46. Following the transaction, the chief executive officer owned 1,024,861 shares of the company’s stock, valued at $23,910,007.13. This trade represents a 8.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WY. New Street Research set a $28.00 price target on shares of Weyerhaeuser in a research report on Friday, December 12th. Royal Bank Of Canada cut their target price on Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. DA Davidson decreased their price target on Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Truist Financial upped their price target on Weyerhaeuser from $27.00 to $28.00 and gave the company a “hold” rating in a report on Tuesday, January 6th. Finally, Citigroup increased their price objective on Weyerhaeuser from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.50.

Weyerhaeuser Stock Performance

NYSE:WY opened at $26.80 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 1.23. The stock has a 50-day simple moving average of $23.58 and a two-hundred day simple moving average of $24.43. The firm has a market capitalization of $19.32 billion, a PE ratio of 59.56, a P/E/G ratio of 107.36 and a beta of 1.04. Weyerhaeuser Company has a 52-week low of $21.16 and a 52-week high of $31.66.

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

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, November 28th. Weyerhaeuser’s dividend payout ratio is currently 186.67%.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.