Procyon Advisors LLC Sells 2,864 Shares of Weyerhaeuser (NYSE:WY)

Procyon Advisors LLC decreased its holdings in Weyerhaeuser (NYSE:WY) by 4.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,245 shares of the real estate investment trust’s stock after selling 2,864 shares during the quarter. Procyon Advisors LLC’s holdings in Weyerhaeuser were worth $1,696,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Oakworth Capital Inc. purchased a new stake in shares of Weyerhaeuser in the third quarter worth approximately $25,000. Itau Unibanco Holding S.A. bought a new stake in Weyerhaeuser during the second quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Weyerhaeuser by 4,884.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 928 shares in the last quarter. Bangor Savings Bank raised its position in Weyerhaeuser by 140.3% in the 3rd quarter. Bangor Savings Bank now owns 1,115 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 651 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in Weyerhaeuser by 172.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,136 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 719 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on WY shares. Truist Financial reduced their target price on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a research note on Monday, January 6th. Citigroup decreased their price objective on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com downgraded Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Friday. CIBC raised Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price target for the company in a research report on Wednesday. Finally, Cibc World Mkts upgraded Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Weyerhaeuser has a consensus rating of “Moderate Buy” and a consensus target price of $35.14.

Weyerhaeuser Price Performance

Weyerhaeuser stock opened at $30.24 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $29.82 and its 200 day simple moving average is $30.73. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. The company has a market cap of $21.97 billion, a price-to-earnings ratio of 40.86 and a beta of 1.42.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company earned $0.33 EPS. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. Sell-side analysts forecast that Weyerhaeuser will post 0.49 EPS for the current year.

Weyerhaeuser Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Friday, November 29th. Weyerhaeuser’s dividend payout ratio (DPR) is currently 108.11%.

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.