Daiwa Securities Group Inc. Reduces Stock Holdings in Weyerhaeuser Company $WY

Key Points

• Daiwa Securities Group cut its Weyerhaeuser stake by 64% in the second quarter, selling 1.59 million shares and retaining 895,416 shares valued at approximately $21.4 million. Institutional investors collectively own 82.99% of the company.
• Weyerhaeuser reported quarterly earnings of $0.13 per share, exceeding analyst expectations of $0.08, while revenue of $1.87 billion declined 8.3% year over year.
• The company declared a quarterly dividend of $0.21 per share, equivalent to an annualized yield of 3.4%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $29, compared with the stock’s reported price of $24.55.

Daiwa Securities Group Inc. lowered its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 64.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 895,416 shares of the real estate investment trust's stock after selling 1,589,555 shares during the period. Daiwa Securities Group Inc. owned 0.12% of Weyerhaeuser worth $21,436,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Pekin Hardy Strauss Inc. raised its stake in Weyerhaeuser by 7.1% in the second quarter. Pekin Hardy Strauss Inc. now owns 358,651 shares of the real estate investment trust's stock worth $8,586,000 after buying an additional 23,815 shares in the last quarter. Chicago Partners Investment Group LLC bought a new stake in Weyerhaeuser during the 2nd quarter valued at approximately $309,000. Ethic Inc. boosted its position in Weyerhaeuser by 19.7% during the 2nd quarter. Ethic Inc. now owns 63,240 shares of the real estate investment trust's stock valued at $1,514,000 after acquiring an additional 10,418 shares in the last quarter. Swiss Life Asset Management Ltd grew its holdings in shares of Weyerhaeuser by 22.5% during the 2nd quarter. Swiss Life Asset Management Ltd now owns 231,651 shares of the real estate investment trust's stock worth $5,546,000 after acquiring an additional 42,549 shares during the period. Finally, Meramec Financial Planners LLC grew its holdings in shares of Weyerhaeuser by 55,020.0% during the 2nd quarter. Meramec Financial Planners LLC now owns 2,756 shares of the real estate investment trust's stock worth $66,000 after acquiring an additional 2,751 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Stock Performance

Shares of WY opened at $24.55 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The business's 50 day moving average price is $24.35 and its 200-day moving average price is $24.53. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $27.75. The stock has a market cap of $17.70 billion, a P/E ratio of 37.78, a P/E/G ratio of 1.33 and a beta of 0.89.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.05. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.The firm's revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter last year, the company earned $0.12 EPS. Equities research analysts anticipate that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, September 4th. Weyerhaeuser's dividend payout ratio is currently 129.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WY shares. DA Davidson restated a "buy" rating and issued a $31.00 target price on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Citigroup decreased their price objective on Weyerhaeuser from $30.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday, August 4th. Royal Bank Of Canada reissued an "outperform" rating and set a $30.00 price objective on shares of Weyerhaeuser in a research report on Friday, July 17th. Canadian Imperial Bank of Commerce set a $28.00 target price on shares of Weyerhaeuser in a report on Thursday, April 23rd. Finally, Truist Financial reiterated a "hold" rating and issued a $28.00 price target (up from $27.00) on shares of Weyerhaeuser in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Weyerhaeuser currently has a consensus rating of "Moderate Buy" and an average price target of $29.00.

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.

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