Citigroup Inc. Acquires 669,451 Shares of Weyerhaeuser Company $WY

Citigroup Inc. boosted its holdings in Weyerhaeuser Company (NYSE:WY) by 68.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,647,285 shares of the real estate investment trust’s stock after purchasing an additional 669,451 shares during the period. Citigroup Inc. owned about 0.23% of Weyerhaeuser worth $40,836,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in shares of Weyerhaeuser by 18.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock worth $65,878,000 after buying an additional 346,571 shares during the last quarter. Empowered Funds LLC raised its position in Weyerhaeuser by 3.4% in the first quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock worth $1,348,000 after acquiring an additional 1,498 shares during the period. Intech Investment Management LLC boosted its stake in Weyerhaeuser by 5.9% in the first quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock valued at $1,647,000 after acquiring an additional 3,124 shares during the last quarter. Ethic Inc. grew its position in shares of Weyerhaeuser by 7.8% during the 2nd quarter. Ethic Inc. now owns 27,618 shares of the real estate investment trust’s stock valued at $714,000 after acquiring an additional 2,009 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in shares of Weyerhaeuser by 2.9% during the 2nd quarter. Asset Management One Co. Ltd. now owns 324,353 shares of the real estate investment trust’s stock worth $8,333,000 after purchasing an additional 9,018 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Sara Grootwassink Lewis bought 4,500 shares of the stock in a transaction on Wednesday, December 17th. The shares were acquired at an average cost of $23.61 per share, for a total transaction of $106,245.00. Following the purchase, the director directly owned 25,978 shares of the company’s stock, valued at $613,340.58. This trade represents a 20.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard Beckwitt purchased 20,000 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was purchased at an average cost of $25.70 per share, with a total value of $514,000.00. Following the completion of the acquisition, the director owned 24,066 shares in the company, valued at approximately $618,496.20. This trade represents a 491.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 28,500 shares of company stock worth $721,645. Insiders own 0.27% of the company’s stock.

Weyerhaeuser Price Performance

Weyerhaeuser stock opened at $24.91 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.83. Weyerhaeuser Company has a one year low of $21.16 and a one year high of $31.66. The firm has a market capitalization of $17.95 billion, a P/E ratio of 56.61 and a beta of 1.03. The business has a fifty day moving average price of $25.49 and a 200-day moving average price of $24.50.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Weyerhaeuser had a return on equity of 1.50% and a net margin of 4.69%.The firm’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 EPS. As a group, equities research analysts forecast that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.84 annualized dividend and a yield of 3.4%. Weyerhaeuser’s payout ratio is currently 190.91%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. New Street Research set a $28.00 price objective on Weyerhaeuser in a research note on Friday, December 12th. Truist Financial boosted their target price on Weyerhaeuser from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. UBS Group reaffirmed a “buy” rating on shares of Weyerhaeuser in a research report on Monday, December 15th. Weiss Ratings upgraded Weyerhaeuser from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Finally, DA Davidson restated a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research note on Monday, February 2nd. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Weyerhaeuser currently has a consensus rating of “Hold” and a consensus target price of $28.88.

Weyerhaeuser Company Profile

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.