Confluence Investment Management LLC Trims Position in Weyerhaeuser Company $WY

Key Points

• Confluence Investment Management LLC reduced its stake in Weyerhaeuser Company by 2.4%, owning approximately 1.9 million shares valued at about $49.2 million.
• Weyerhaeuser's stock has seen recent analyst activity, with Wall Street Zen downgrading it from a "hold" to a "sell" rating, while the stock is currently rated as a "Moderate Buy" with a consensus price target of $32.75.
• The company announced a quarterly dividend of $0.21, reflecting an annual yield of 3.4%, despite a high payout ratio of 221.05%.

Confluence Investment Management LLC lessened its stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 2.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,915,486 shares of the real estate investment trust's stock after selling 46,950 shares during the quarter. Confluence Investment Management LLC owned about 0.26% of Weyerhaeuser worth $49,209,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WY. Nuveen LLC purchased a new position in Weyerhaeuser during the 1st quarter valued at about $107,330,000. Millennium Management LLC grew its holdings in 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 valued at $91,657,000 after buying an additional 3,027,823 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Weyerhaeuser by 63.9% during the 1st quarter. Bank of New York Mellon Corp now owns 7,265,484 shares of the real estate investment trust's stock valued at $212,733,000 after buying an additional 2,833,288 shares in the last quarter. Clean Energy Transition LLP purchased a new position in Weyerhaeuser during the 1st quarter valued at about $55,429,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Weyerhaeuser during the 1st quarter valued at about $53,061,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on WY shares. Wall Street Zen lowered Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. DA Davidson reduced their target price on Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. Citigroup cut their price objective on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. CIBC cut their price objective on Weyerhaeuser from $32.00 to $31.00 and set an "outperformer" rating for the company in a report on Thursday. Finally, The Goldman Sachs Group lowered Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $32.75.

Insiders Place Their Bets

In other news, Director Sara Grootwassink Lewis bought 4,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the transaction, the director directly owned 21,478 shares of the company's stock, valued at $543,178.62. This represents a 22.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by insiders.

Weyerhaeuser Stock Down 3.4%

Shares of NYSE WY opened at $24.94 on Friday. Weyerhaeuser Company has a 12 month low of $24.10 and a 12 month high of $34.03. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $17.99 billion, a price-to-earnings ratio of 65.63, a PEG ratio of 81.69 and a beta of 1.07. The business has a 50-day moving average of $25.76 and a 200-day moving average of $26.63.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.94 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.Weyerhaeuser's revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Sell-side analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a $0.21 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.4%. Weyerhaeuser's payout ratio is presently 221.05%.

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.

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