Associated Banc Corp Has $2.52 Million Stock Holdings in Weyerhaeuser (NYSE:WY)

26 Nov 2024, 14:32 by Mitch Edgeman · The Markets Daily

Associated Banc Corp lessened its holdings in shares of Weyerhaeuser (NYSE:WY – Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,449 shares of the real estate investment trust’s stock after selling 1,535 shares during the quarter. Associated Banc Corp’s holdings in Weyerhaeuser were worth $2,521,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Oakworth Capital Inc. bought a new stake in shares of Weyerhaeuser in the 3rd quarter worth approximately $25,000. Ridgewood Investments LLC bought a new stake in Weyerhaeuser in the second quarter valued at about $26,000. Itau Unibanco Holding S.A. bought a new stake in shares of Weyerhaeuser in the 2nd quarter worth about $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Weyerhaeuser by 4,884.2% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 928 shares during the last quarter. Finally, Park Place Capital Corp raised its stake in shares of 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. 82.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. DA Davidson cut their target price on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $38.00 target price on shares of Weyerhaeuser in a report on Tuesday, July 30th. Royal Bank of Canada upped 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. Citigroup decreased their price objective on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, StockNews.com downgraded shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.33.

Read Our Latest Report on WY

Weyerhaeuser Stock Performance

Shares of WY stock opened at $32.23 on Tuesday. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.01 and a quick ratio of 1.41. The firm has a 50-day moving average of $32.27 and a 200-day moving average of $30.79. The company has a market cap of $23.42 billion, a P/E ratio of 43.55 and a beta of 1.40.

Weyerhaeuser (NYSE:WY – Get Free Report) 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. Equities research analysts forecast that Weyerhaeuser will post 0.46 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 29th. Weyerhaeuser’s payout ratio is presently 108.11%.

Insider Activity at Weyerhaeuser

In other news, Director James Calvin O’rourke purchased 7,800 shares of Weyerhaeuser stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 17,672 shares of the company’s stock, valued at approximately $565,680.72. The trade was a 79.01 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by company insiders.

Weyerhaeuser Profile

(Free Report)

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.