Meyer Handelman Co. Has $2.47 Million Stock Holdings in Weyerhaeuser (NYSE:WY)

Meyer Handelman Co. lowered its stake in Weyerhaeuser (NYSE:WY) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,864 shares of the real estate investment trust’s stock after selling 1,217 shares during the quarter. Meyer Handelman Co.’s holdings in Weyerhaeuser were worth $2,467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of WY. Ridgewood Investments LLC acquired a new position in shares of Weyerhaeuser during the 2nd quarter worth approximately $26,000. American National Bank grew its stake in shares of Weyerhaeuser by 171.5% in the first quarter. American National Bank now owns 763 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 482 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Weyerhaeuser during the second quarter worth $27,000. Northwest Investment Counselors LLC bought a new stake in Weyerhaeuser during the first quarter worth $33,000. Finally, Park Place Capital Corp lifted its stake in Weyerhaeuser by 440.5% in the second quarter. Park Place Capital Corp now owns 1,227 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 82.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Argus upgraded shares of Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. DA Davidson dropped their price objective on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. BMO Capital Markets reiterated a “market perform” rating and set a $38.00 target price on shares of Weyerhaeuser in a research note on Tuesday, July 30th. Truist Financial dropped their price target on Weyerhaeuser from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Finally, Royal Bank of Canada lifted their price objective on shares of Weyerhaeuser from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Weyerhaeuser has an average rating of “Hold” and an average target price of $35.83.

Weyerhaeuser Stock Performance

Shares of NYSE WY opened at $33.03 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.19 and a quick ratio of 1.58. The firm has a market cap of $24.02 billion, a price-to-earnings ratio of 32.07 and a beta of 1.40. The stock’s fifty day moving average price is $31.68 and its two-hundred day moving average price is $31.03. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Weyerhaeuser had a net margin of 9.89% and a return on equity of 6.19%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the company posted $0.32 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. On average, equities analysts forecast that Weyerhaeuser will post 0.51 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.42%. Weyerhaeuser’s payout ratio is 77.67%.

Insider Activity at Weyerhaeuser

In related news, Director Albert Monaco acquired 31,500 shares of the company’s stock in a transaction on Monday, August 26th. The stock was purchased at an average cost of $31.38 per share, with a total value of $988,470.00. Following the acquisition, the director now directly owns 70,726 shares of the company’s stock, valued at approximately $2,219,381.88. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Weyerhaeuser news, Director James Calvin O’rourke purchased 7,800 shares of the stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $32.01 per share, with a total value of $249,678.00. Following the acquisition, the director now owns 17,672 shares of the company’s stock, valued at approximately $565,680.72. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Albert Monaco acquired 31,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $31.38 per share, with a total value of $988,470.00. Following the completion of the transaction, the director now owns 70,726 shares in the company, valued at $2,219,381.88. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by corporate insiders.

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.