Sumitomo Life Insurance Co. Sells 797 Shares of Weyerhaeuser (NYSE:WY)

Sumitomo Life Insurance Co. trimmed its position in shares of Weyerhaeuser (NYSE:WY) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,539 shares of the real estate investment trust’s stock after selling 797 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Weyerhaeuser were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in WY. Wellington Management Group LLP grew its holdings in shares of Weyerhaeuser by 12.7% in the third quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock valued at $1,210,694,000 after acquiring an additional 4,035,048 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Weyerhaeuser by 257.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust’s stock valued at $151,437,000 after purchasing an additional 3,220,235 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Weyerhaeuser by 2,664.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust’s stock valued at $74,355,000 after purchasing an additional 2,116,520 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Weyerhaeuser by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock worth $291,306,000 after purchasing an additional 2,004,073 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of Weyerhaeuser during the 3rd quarter worth $40,773,000. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Performance

NYSE:WY opened at $31.06 on Friday. Weyerhaeuser has a 52-week low of $26.73 and a 52-week high of $36.27. The business’s fifty day moving average is $29.73 and its 200 day moving average is $30.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.41 and a current ratio of 2.01. The firm has a market cap of $22.56 billion, a price-to-earnings ratio of 41.97 and a beta of 1.42.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. Research analysts predict that Weyerhaeuser will post 0.49 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.20 per share. The ex-dividend date was Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.58%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 108.11%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WY shares. CIBC upgraded shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price objective for the company in a report on Wednesday, January 15th. StockNews.com cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Wednesday. Citigroup reduced their price objective on Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, January 15th. Truist Financial lowered their target price on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Finally, BMO Capital Markets upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.14.

About Weyerhaeuser

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.