Weyerhaeuser Co (WY) reported a disappointing 88% profit drop for the third-quarter 2024. However, despite the profit drop, the company still managed to beat earnings and estimates. Their Q3 net profit was reported at $0.04 EPS, meeting Wall Street's expectations. Several notable asset management companies, including IFM Investors Pty Ltd and Raymond James & Associates, have significant holdings in the company, indicating confidence in its future performance. The company's director, Albert Monaco, also displayed confidence by purchasing 31,500 shares of the company's stock. Despite the challenges stemming from a weaker housing market, many analysts predict a long-term growth commitment. Interestingly, Duff & Phelps Investment Management Co., chose to sell a large portion of their shares. However, Weyerhaeuser remains a key player in the timber industry, with shares frequently outperforming the market. The company has also recently partnered with The Nature Conservancy to focus on utilizing forests to combat climate change. Lastly, Weyerhaeuser announced the completion of its initial carbon credit offering, marking a significant step in its environmental initiatives.
Weyerhaeuser Company WY News Analytics from Fri, 30 Apr 2021 07:00:00 GMT to Sat, 26 Oct 2024 12:09:04 GMT -
Rating -4
- Innovation 1
- Information 5
- Rumor -4
