Azimuth Capital Investment Management LLC Reduces Holdings in Weyerhaeuser (NYSE:WY)

Azimuth Capital Investment Management LLC has made a significant move by cutting its holdings in Weyerhaeuser (NYSE:WY) by 23.4% during the fourth quarter. The fund sold 59,492 shares, bringing its total holdings to 194,661 shares worth $6,768,000. This decision comes amidst a flurry of activity from other large investors, with Norges Bank purchasing a new stake in Weyerhaeuser valued at approximately $753,497,000.

Analysts have been closely monitoring WY, with Truist Financial reaffirming a “hold” rating and setting a price target of $36.00. Royal Bank of Canada, BMO Capital Markets, and CIBC have also weighed in on the stock, providing a mix of ratings and price targets. Overall, five research analysts have rated the stock as a hold, while two have assigned a buy rating.

Despite the recent activity, Weyerhaeuser’s stock has seen a slight decline of 1.4%, trading at $29.36 on Friday. The company recently reported its quarterly earnings, beating analysts’ estimates with an earnings per share of $0.16. Weyerhaeuser also announced a quarterly dividend of $0.20 per share, with a dividend yield of 2.73%.

In insider activity, SVP Keith O’rear sold 8,349 shares of Weyerhaeuser stock, further adding to the dynamic nature of the company’s recent developments. With a market capitalization of $21.40 billion and a range of institutional investors and hedge funds involved, Weyerhaeuser continues to be a key player in the real estate investment trust sector.

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