QRG Capital Management Inc. Reduces Position in Weyerhaeuser Company $WY

Key Points

• QRG Capital Management Inc. significantly reduced its stake in Weyerhaeuser Company by 71.6%, selling 264,918 shares and retaining 105,312 shares valued at approximately $2.7 million.
• Weyerhaeuser's recent quarterly earnings included a reported income of $0.12 per share, exceeding analysts' expectations, while revenue decreased by 2.8% year-over-year.
• The company declared a quarterly dividend of $0.21 per share, which yields about 3.4%, although its dividend payout ratio is notably high at 221.05%.

QRG Capital Management Inc. trimmed its position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 71.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,312 shares of the real estate investment trust's stock after selling 264,918 shares during the period. QRG Capital Management Inc.'s holdings in Weyerhaeuser were worth $2,705,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. S.A. Mason LLC raised its holdings in shares of Weyerhaeuser by 5.6% in the first quarter. S.A. Mason LLC now owns 7,642 shares of the real estate investment trust's stock worth $224,000 after buying an additional 408 shares during the period. Assenagon Asset Management S.A. grew its position in Weyerhaeuser by 1.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 29,419 shares of the real estate investment trust's stock valued at $756,000 after acquiring an additional 445 shares during the last quarter. Unison Advisors LLC increased its stake in Weyerhaeuser by 0.7% in the first quarter. Unison Advisors LLC now owns 69,309 shares of the real estate investment trust's stock worth $2,029,000 after purchasing an additional 455 shares during the period. SPC Financial Inc. lifted its position in shares of Weyerhaeuser by 3.5% during the first quarter. SPC Financial Inc. now owns 14,595 shares of the real estate investment trust's stock worth $427,000 after purchasing an additional 500 shares during the last quarter. Finally, Horizon Investments LLC boosted its stake in shares of Weyerhaeuser by 5.2% during the first quarter. Horizon Investments LLC now owns 10,468 shares of the real estate investment trust's stock valued at $307,000 after purchasing an additional 516 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Sara Grootwassink Lewis bought 4,000 shares of the business's stock in a transaction on Monday, August 11th. The shares were bought at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the purchase, the director directly owned 21,478 shares of the company's stock, valued at approximately $543,178.62. This trade represents a 22.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

WY has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Weyerhaeuser in a research note on Saturday, September 27th. Wall Street Zen lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. CIBC decreased their price target on shares of Weyerhaeuser from $32.00 to $31.00 and set an "outperformer" rating for the company in a research note on Thursday, September 11th. JPMorgan Chase & Co. dropped their price objective on Weyerhaeuser from $32.00 to $31.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 17th. Finally, DA Davidson restated a "buy" rating and set a $35.00 price objective on shares of Weyerhaeuser in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.88.

Weyerhaeuser Price Performance

NYSE WY opened at $24.96 on Tuesday. The company has a market cap of $18.01 billion, a PE ratio of 65.69, a P/E/G ratio of 125.31 and a beta of 1.05. The firm's 50 day moving average price is $25.38 and its 200-day moving average price is $25.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04. Weyerhaeuser Company has a 52-week low of $23.98 and a 52-week high of $33.56.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates 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 prior year, the business earned $0.21 earnings per share. Sell-side analysts forecast that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

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

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.

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