Syntax Research Inc. Sells 53,996 Shares of Weyerhaeuser Company $WY

Syntax Research Inc. cut its position in Weyerhaeuser Company (NYSE:WY) by 71.5% in the first quarter, HoldingsChannel.com reports. The firm owned 21,536 shares of the real estate investment trust’s stock after selling 53,996 shares during the quarter. Syntax Research Inc.’s holdings in Weyerhaeuser were worth $526,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in shares of Weyerhaeuser by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 41,378,212 shares of the real estate investment trust’s stock valued at $980,250,000 after buying an additional 1,731,315 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Weyerhaeuser by 166.1% in the 4th quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock worth $891,242,000 after buying an additional 23,485,504 shares during the period. State Street Corp increased its stake in Weyerhaeuser by 1.7% in the 4th quarter. State Street Corp now owns 33,031,378 shares of the real estate investment trust’s stock worth $782,513,000 after buying an additional 562,781 shares in the last quarter. Norges Bank purchased a new stake in Weyerhaeuser in the 4th quarter worth $549,531,000. Finally, Geode Capital Management LLC raised its holdings in Weyerhaeuser by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 20,299,110 shares of the real estate investment trust’s stock valued at $479,155,000 after acquiring an additional 225,227 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WY. Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. increased their target price on Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup decreased their target price on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Truist Financial lowered their price target on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, April 15th. Finally, Canadian Imperial Bank of Commerce set a $28.00 price target on Weyerhaeuser in a research note on Thursday, April 23rd. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Weyerhaeuser presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Weyerhaeuser Stock Down 1.7%

Shares of WY stock opened at $23.54 on Thursday. The stock has a market cap of $16.98 billion, a P/E ratio of 43.60, a PEG ratio of 1.38 and a beta of 0.89. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $27.75. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The company’s fifty day simple moving average is $24.21 and its two-hundred day simple moving average is $24.63.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The business’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.11 EPS. Analysts predict that Weyerhaeuser Company will post 0.31 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Friday, June 5th. Weyerhaeuser’s payout ratio is currently 155.56%.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.