Sumitomo Mitsui Trust Group Inc. Lowers Stock Holdings in Weyerhaeuser Company $WY

Key Points

• Sumitomo Mitsui Trust Group reduced its Weyerhaeuser stake by 6.0% in the second quarter, selling 84,455 shares and retaining 1.33 million shares worth approximately $31.9 million. Institutional investors collectively own 82.99% of the company.
• Weyerhaeuser reported quarterly EPS of $0.13, exceeding the $0.08 analyst consensus, while revenue of $1.87 billion declined 8.3% year over year. Shares recently traded at $24.81, compared with a consensus analyst price target of $29.00.
• The company declared a quarterly dividend of $0.21 per share, equivalent to an annualized $0.84 payout and a 3.4% yield. Analysts maintain a “Moderate Buy” consensus rating, with one Strong Buy, six Buy, and four Hold ratings.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 6.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,333,051 shares of the real estate investment trust's stock after selling 84,455 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.18% of Weyerhaeuser worth $31,913,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Blume Capital Management Inc. increased its stake in Weyerhaeuser by 35.8% in the fourth quarter. Blume Capital Management Inc. now owns 186,973 shares of the real estate investment trust's stock valued at $4,429,000 after purchasing an additional 49,275 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Weyerhaeuser in the 4th quarter worth about $6,614,000. Pacific Heights Asset Management LLC boosted its stake in Weyerhaeuser by 71.4% in the 4th quarter. Pacific Heights Asset Management LLC now owns 600,000 shares of the real estate investment trust's stock worth $14,214,000 after buying an additional 250,000 shares during the last quarter. Draper Asset Management LLC purchased a new stake in Weyerhaeuser in the 4th quarter valued at about $1,215,000. Finally, Principal Financial Group Inc. grew its holdings in Weyerhaeuser by 4.7% in the 4th quarter. Principal Financial Group Inc. now owns 3,850,138 shares of the real estate investment trust's stock valued at $91,210,000 after buying an additional 174,144 shares during the period. Hedge funds and other institutional investors own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

NYSE WY opened at $24.81 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.15. Weyerhaeuser Company has a 1-year low of $21.16 and a 1-year high of $27.75. The firm has a market capitalization of $17.88 billion, a P/E ratio of 38.16, a P/E/G ratio of 1.33 and a beta of 0.89. The business's 50-day simple moving average is $24.35 and its 200-day simple moving average is $24.53.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its earnings results 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. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company earned $0.12 EPS. The company's revenue was down 8.3% on a year-over-year basis. Equities analysts predict that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, September 4th. Weyerhaeuser's payout ratio is currently 129.23%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a research report on Thursday, April 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $30.00 price target on shares of Weyerhaeuser in a research note on Friday, July 17th. JPMorgan Chase & Co. lifted their price target on shares of Weyerhaeuser from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Finally, Weiss Ratings upgraded Weyerhaeuser from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 3rd. One equities research 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $29.00.

Weyerhaeuser Company Profile

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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