Bessemer Group Inc. Sells 33,870 Shares of Weyerhaeuser Company (NYSE:WY)

Bessemer Group Inc. lowered its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 80.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,281 shares of the real estate investment trust's stock after selling 33,870 shares during the period. Bessemer Group Inc.'s holdings in Weyerhaeuser were worth $243,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its position in Weyerhaeuser by 36.7% in the fourth quarter. Jones Financial Companies Lllp now owns 11,482 shares of the real estate investment trust's stock valued at $323,000 after buying an additional 3,084 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Weyerhaeuser by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,154 shares of the real estate investment trust's stock valued at $2,171,000 after buying an additional 1,524 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Weyerhaeuser by 232.0% in the first quarter. Farther Finance Advisors LLC now owns 9,476 shares of the real estate investment trust's stock valued at $276,000 after buying an additional 6,622 shares in the last quarter. Cetera Investment Advisers boosted its position in Weyerhaeuser by 12.5% in the fourth quarter. Cetera Investment Advisers now owns 70,319 shares of the real estate investment trust's stock valued at $1,979,000 after buying an additional 7,810 shares in the last quarter. Finally, Millennium Management LLC boosted its position in Weyerhaeuser by 2.5% in the fourth quarter. Millennium Management LLC now owns 102,544 shares of the real estate investment trust's stock valued at $2,887,000 after buying an additional 2,532 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. 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. The Goldman Sachs Group lowered shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. Truist Financial cut their price target on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Citigroup cut their price target on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a report on Tuesday, June 3rd. Finally, CIBC cut their price target on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have given 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 a consensus target price of $33.13.

Weyerhaeuser Price Performance

WY stock opened at $26.70 on Thursday. The firm has a market cap of $19.36 billion, a price-to-earnings ratio of 53.40, a PEG ratio of 34.04 and a beta of 1.14. 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 12-month low of $24.10 and a 12-month high of $34.03. The company's fifty day simple moving average is $26.14 and its 200 day simple moving average is $27.89.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its 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 business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. Weyerhaeuser's revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.16 earnings per share. On average, analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.15%. Weyerhaeuser's payout ratio is 168.00%.

Weyerhaeuser declared that its board has initiated a stock repurchase plan on Thursday, May 8th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

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.

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