Weyerhaeuser (NYSE:WY) Position Cut by Bank of America Corp DE

Bank of America Corp DE trimmed its holdings in shares of Weyerhaeuser (NYSE:WY) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,910,261 shares of the real estate investment trust’s stock after selling 673,965 shares during the period. Bank of America Corp DE owned approximately 0.81% of Weyerhaeuser worth $166,374,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WY. Truist Financial Corp raised its holdings in shares of Weyerhaeuser by 2.8% during the fourth quarter. Truist Financial Corp now owns 50,889 shares of the real estate investment trust’s stock worth $1,433,000 after acquiring an additional 1,373 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Weyerhaeuser during the 4th quarter worth about $1,214,000. Sonora Investment Management Group LLC raised its holdings in Weyerhaeuser by 56.5% in the 4th quarter. Sonora Investment Management Group LLC now owns 51,785 shares of the real estate investment trust’s stock valued at $1,458,000 after acquiring an additional 18,698 shares in the last quarter. Czech National Bank raised its stake in shares of Weyerhaeuser by 6.3% in the fourth quarter. Czech National Bank now owns 157,538 shares of the real estate investment trust’s stock valued at $4,435,000 after purchasing an additional 9,377 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Weyerhaeuser by 10.2% during the third quarter. Franklin Resources Inc. now owns 729,570 shares of the real estate investment trust’s stock worth $23,777,000 after purchasing an additional 67,314 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Up 1.0 %

Shares of WY stock opened at $26.20 on Friday. The company has a market capitalization of $19.00 billion, a price-to-earnings ratio of 47.64, a P/E/G ratio of 4.74 and a beta of 1.15. Weyerhaeuser has a 12-month low of $24.10 and a 12-month high of $34.03. The firm has a fifty day moving average of $27.40 and a 200-day moving average of $29.23. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. As a group, equities research analysts predict that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser declared that its Board of Directors has approved a stock buyback program on Thursday, May 8th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Weyerhaeuser Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.21%. Weyerhaeuser’s dividend payout ratio is currently 168.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. CIBC dropped their price target on Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. began coverage on Weyerhaeuser in a report on Tuesday, April 8th. They issued an “overweight” rating and a $31.00 price objective for the company. Cibc World Mkts upgraded Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Truist Financial lowered their price target on Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating for the company in a research note on Tuesday, April 22nd. Finally, StockNews.com raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Weyerhaeuser currently has an average rating of “Moderate Buy” and an average price target of $33.75.

About Weyerhaeuser

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.