Argyle Capital Management Inc. Sells 24,686 Shares of Weyerhaeuser (NYSE:WY)

Argyle Capital Management Inc. reduced its stake in Weyerhaeuser (NYSE:WY - Free Report) by 23.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,221 shares of the real estate investment trust's stock after selling 24,686 shares during the quarter. Argyle Capital Management Inc.'s holdings in Weyerhaeuser were worth $2,824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its stake in Weyerhaeuser by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,065,844 shares of the real estate investment trust's stock valued at $645,879,000 after buying an additional 58,688 shares during the last quarter. Wellington Management Group LLP increased its holdings in Weyerhaeuser by 22.7% during the third quarter. Wellington Management Group LLP now owns 19,299,328 shares of the real estate investment trust's stock worth $591,717,000 after buying an additional 3,573,013 shares during the last quarter. Northern Trust Corp raised its position in Weyerhaeuser by 4.7% during the third quarter. Northern Trust Corp now owns 11,843,748 shares of the real estate investment trust's stock worth $363,129,000 after acquiring an additional 532,923 shares in the last quarter. Invesco Ltd. lifted its stake in Weyerhaeuser by 3.5% in the third quarter. Invesco Ltd. now owns 10,874,214 shares of the real estate investment trust's stock valued at $333,403,000 after acquiring an additional 365,241 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Weyerhaeuser by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,812,434 shares of the real estate investment trust's stock valued at $239,529,000 after acquiring an additional 95,445 shares during the period. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Price Performance

NYSE:WY traded down $0.41 during trading hours on Friday, reaching $31.05. 3,616,663 shares of the company were exchanged, compared to its average volume of 2,781,766. The company has a market capitalization of $22.65 billion, a P/E ratio of 28.23 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.94 and a quick ratio of 2.22. The business has a 50 day moving average of $33.94 and a 200 day moving average of $32.75. Weyerhaeuser has a 1-year low of $28.12 and a 1-year high of $36.27.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The real estate investment trust reported $0.16 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. Weyerhaeuser had a return on equity of 6.98% and a net margin of 10.57%. The company had revenue of $1.80 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same quarter last year, the business earned $0.21 earnings per share. Weyerhaeuser's revenue was down 4.5% on a year-over-year basis. Research analysts forecast that Weyerhaeuser will post 0.99 EPS for the current year.

Weyerhaeuser Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, March 7th. This is an increase from Weyerhaeuser's previous quarterly dividend of $0.19. Weyerhaeuser's dividend payout ratio is 72.73%.

Insider Buying and Selling

In other Weyerhaeuser news, Director Nicole Weyerhaeuser Piasecki sold 33,426 shares of the company's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $33.64, for a total transaction of $1,124,450.64. Following the completion of the sale, the director now directly owns 5,807 shares in the company, valued at $195,347.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Weyerhaeuser news, CFO David M. Wold sold 924 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $32.84, for a total value of $30,344.16. Following the completion of the transaction, the chief financial officer now directly owns 60,655 shares in the company, valued at $1,991,910.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicole Weyerhaeuser Piasecki sold 33,426 shares of the firm's stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $33.64, for a total transaction of $1,124,450.64. Following the completion of the transaction, the director now owns 5,807 shares of the company's stock, valued at approximately $195,347.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,699 shares of company stock worth $1,455,609. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WY shares. StockNews.com downgraded shares of Weyerhaeuser from a "buy" rating to a "hold" rating in a research note on Monday, January 29th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $39.00 price target on shares of Weyerhaeuser in a report on Monday, January 29th. CIBC set a $37.00 price objective on shares of Weyerhaeuser and gave the company a "neutral" rating in a research report on Wednesday, March 13th. BMO Capital Markets upped their price target on shares of Weyerhaeuser from $36.00 to $38.00 and gave the company a "market perform" rating in a research note on Friday, March 22nd. Finally, Truist Financial restated a "hold" rating and set a $36.00 price objective on shares of Weyerhaeuser in a research report on Wednesday, April 3rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $38.00.

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.

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