Envestnet Asset Management Inc. Sells 138,580 Shares of Weyerhaeuser Company $WY

Key Points

• Envestnet Asset Management cut its Weyerhaeuser stake by 14.1%, selling 138,580 shares and retaining 844,307 shares valued at approximately $20.2 million. Institutional investors and hedge funds collectively own 82.99% of the company.
• Weyerhaeuser beat quarterly earnings expectations with EPS of $0.13 versus the $0.08 consensus and revenue of $1.87 billion, although revenue declined 8.3% year over year. The company pays a quarterly dividend of $0.21, representing a 4.3% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $28.67 compared with the stock’s reported $19.54 opening price.

Envestnet Asset Management Inc. reduced its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 14.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 844,307 shares of the real estate investment trust's stock after selling 138,580 shares during the period. Envestnet Asset Management Inc. owned 0.12% of Weyerhaeuser worth $20,213,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of Weyerhaeuser by 23.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,495 shares of the real estate investment trust's stock worth $59,000 after buying an additional 472 shares during the period. New Mexico Educational Retirement Board grew its holdings in Weyerhaeuser by 1.5% during the fourth quarter. New Mexico Educational Retirement Board now owns 33,219 shares of the real estate investment trust's stock valued at $787,000 after purchasing an additional 500 shares during the period. CHICAGO TRUST Co NA increased its stake in Weyerhaeuser by 6.8% in the first quarter. CHICAGO TRUST Co NA now owns 9,069 shares of the real estate investment trust's stock valued at $222,000 after purchasing an additional 575 shares in the last quarter. Unison Advisors LLC increased its stake in Weyerhaeuser by 0.8% in the first quarter. Unison Advisors LLC now owns 71,662 shares of the real estate investment trust's stock valued at $1,751,000 after purchasing an additional 578 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Weyerhaeuser by 77.6% in the second quarter. Versant Capital Management Inc now owns 1,412 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 617 shares during the period. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Stock Performance

Shares of NYSE WY opened at $19.54 on Wednesday. The stock has a 50 day moving average price of $23.36 and a 200 day moving average price of $23.82. Weyerhaeuser Company has a 52 week low of $19.50 and a 52 week high of $27.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.82. The stock has a market capitalization of $14.08 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 1.88 and a beta of 0.87.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.05. The company had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.85 billion. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.The business's revenue was down 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 EPS. Analysts predict that Weyerhaeuser Company will post 0.33 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, September 4th. Weyerhaeuser's dividend payout ratio (DPR) is 129.23%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WY. Truist Financial reissued a "hold" rating and issued a $28.00 price target (up from $27.00) on shares of Weyerhaeuser in a report on Monday, August 3rd. Wall Street Zen raised Weyerhaeuser from a "sell" rating to a "hold" rating in a research note on Sunday, August 2nd. DA Davidson reiterated a "buy" rating and set a $31.00 target price on shares of Weyerhaeuser in a report on Tuesday, June 30th. Raymond James Financial upgraded Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 price target for the company in a report on Friday, July 10th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $30.00 price target on shares of Weyerhaeuser in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.67.

Weyerhaeuser Company Profile

Weyerhaeuser NYSE: WY is one of the world's largest private owners of timberlands and a major producer of forest products. The company owns and manages timberlands in the United States and operates manufacturing facilities in the United States and Canada, serving residential, commercial and industrial markets.

Its principal products include lumber, structural panels, engineered wood products and other materials used in homebuilding and construction. Weyerhaeuser also manages its timberlands for sustainable wood production and generates revenue from real estate, energy and natural-resource activities associated with those properties.

Founded in 1900, Weyerhaeuser has developed from a regional timber company into an integrated forest-products business.

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