Biltmore Wealth Management LLC Sells 5,438 Shares of Weyerhaeuser (NYSE:WY)

Biltmore Wealth Management LLC reduced its position in shares of Weyerhaeuser (NYSE:WY) by 24.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,908 shares of the real estate investment trust’s stock after selling 5,438 shares during the quarter. Biltmore Wealth Management LLC’s holdings in Weyerhaeuser were worth $480,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Larson Financial Group LLC raised its holdings in Weyerhaeuser by 0.8% in the first quarter. Larson Financial Group LLC now owns 43,003 shares of the real estate investment trust’s stock worth $1,544,000 after buying an additional 348 shares during the last quarter. SVB Wealth LLC raised its holdings in shares of Weyerhaeuser by 3.2% during the fourth quarter. SVB Wealth LLC now owns 11,349 shares of the real estate investment trust’s stock valued at $395,000 after purchasing an additional 351 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in shares of Weyerhaeuser by 23.4% during the first quarter. WASHINGTON TRUST Co now owns 2,023 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 383 shares during the last quarter. Jacobi Capital Management LLC raised its holdings in shares of Weyerhaeuser by 6.6% during the first quarter. Jacobi Capital Management LLC now owns 6,590 shares of the real estate investment trust’s stock valued at $237,000 after purchasing an additional 406 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Weyerhaeuser by 14.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,426 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 420 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Weyerhaeuser news, Director Nicole Weyerhaeuser Piasecki sold 5,776 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $29.40, for a total value of $169,814.40. Following the completion of the transaction, the director now directly owns 5,790 shares in the company, valued at $170,226. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.27% of the company’s stock.

Weyerhaeuser Stock Performance

NYSE WY traded down $0.42 during trading hours on Friday, hitting $30.68. 3,567,532 shares of the company’s stock traded hands, compared to its average volume of 3,566,313. The firm has a market capitalization of $22.37 billion, a P/E ratio of 27.89 and a beta of 1.39. Weyerhaeuser has a 52 week low of $26.73 and a 52 week high of $36.27. The business’s fifty day moving average price is $29.48 and its two-hundred day moving average price is $31.68. The company has a current ratio of 2.19, a quick ratio of 1.58 and a debt-to-equity ratio of 0.48.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.98 billion. Weyerhaeuser had a return on equity of 6.19% and a net margin of 9.89%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 earnings per share. Equities research analysts predict that Weyerhaeuser will post 0.67 EPS for the current year.

Weyerhaeuser Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.61%. Weyerhaeuser’s payout ratio is currently 72.73%.

Analyst Ratings Changes

WY has been the subject of several research reports. Truist Financial decreased their price objective on shares of Weyerhaeuser from $32.00 to $31.00 and set a “hold” rating for the company in a report on Monday, July 29th. Citigroup decreased their price objective on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. BMO Capital Markets restated a “market perform” rating and set a $38.00 target price on shares of Weyerhaeuser in a research report on Tuesday, July 30th. DA Davidson cut their target price on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Finally, Royal Bank of Canada boosted their target price on shares of Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.83.

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.