Weyerhaeuser Company $WY Stake Raised by Grove Bank & Trust

Grove Bank & Trust grew its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 3,048.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,342 shares of the real estate investment trust's stock after buying an additional 19,696 shares during the period. Grove Bank & Trust's holdings in Weyerhaeuser were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in WY. Fourth Dimension Wealth LLC bought a new stake in shares of Weyerhaeuser during the fourth quarter valued at approximately $27,000. GKV Capital Management Co. Inc. acquired a new position in Weyerhaeuser in the first quarter worth approximately $29,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Weyerhaeuser in the first quarter worth approximately $31,000. Costello Asset Management INC acquired a new position in Weyerhaeuser in the first quarter worth approximately $32,000. Finally, Marshall Investment Management LLC purchased a new position in Weyerhaeuser during the 1st quarter worth approximately $36,000. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Price Performance

WY opened at $24.15 on Friday. Weyerhaeuser Company has a one year low of $23.98 and a one year high of $34.03. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.68. The company's 50 day simple moving average is $25.61 and its 200-day simple moving average is $26.43. The stock has a market capitalization of $17.42 billion, a P/E ratio of 63.55, a price-to-earnings-growth ratio of 77.61 and a beta of 1.07.

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

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, August 29th. Weyerhaeuser's dividend payout ratio is currently 221.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. The Goldman Sachs Group cut shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. Truist Financial lowered their price target on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a report on Monday, July 28th. DA Davidson lowered their price target on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Wall Street Zen cut shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Finally, CIBC lowered their price target on shares of Weyerhaeuser from $32.00 to $31.00 and set an "outperformer" rating on the stock in a report on Thursday, September 11th. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.88.

Insiders Place Their Bets

In other Weyerhaeuser news, Director Sara Grootwassink Lewis acquired 4,000 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average cost of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the acquisition, the director directly owned 21,478 shares of the company's stock, valued at approximately $543,178.62. This represents a 22.89% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding WY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weyerhaeuser Company (NYSE:WY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.