Bank of New York Mellon Corp Purchases 2,833,288 Shares of Weyerhaeuser Company (NYSE:WY)

Bank of New York Mellon Corp lifted its position in Weyerhaeuser Company (NYSE:WY - Free Report) by 63.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,265,484 shares of the real estate investment trust's stock after acquiring an additional 2,833,288 shares during the quarter. Bank of New York Mellon Corp owned 1.00% of Weyerhaeuser worth $212,733,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WY. South Plains Financial Inc. purchased a new position in Weyerhaeuser in the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new position in Weyerhaeuser in the 4th quarter worth about $27,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Weyerhaeuser in the 1st quarter worth about $31,000. Assetmark Inc. increased its position in Weyerhaeuser by 290.9% during the 4th quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock valued at $35,000 after purchasing an additional 922 shares during the period. Finally, TD Waterhouse Canada Inc. increased its position in Weyerhaeuser by 136.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 807 shares during the period. Institutional investors own 82.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on WY. Truist Financial cut their target price on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group downgraded shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. CIBC cut their target price on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their target price on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. Finally, Citigroup cut their target price on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $33.13.

Weyerhaeuser Stock Down 3.0%

Shares of Weyerhaeuser stock opened at $25.63 on Tuesday. The firm's 50 day moving average price is $26.20 and its 200-day moving average price is $27.83. The company has a quick ratio of 1.26, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. Weyerhaeuser Company has a 52-week low of $24.10 and a 52-week high of $34.03. The company has a market cap of $18.59 billion, a P/E ratio of 51.26, a PEG ratio of 39.23 and a beta of 1.14.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 net margin of 5.15% and a return on equity of 3.59%. The company's quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. On average, sell-side analysts predict that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Friday, May 30th. Weyerhaeuser's dividend payout ratio (DPR) is presently 168.00%.

Weyerhaeuser announced that its board has approved a share repurchase program on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Weyerhaeuser Company Profile

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.

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