Boston Common Asset Management LLC reduced its holdings in Weyerhaeuser (NYSE:WY - Free Report) by 26.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,519 shares of the real estate investment trust's stock after selling 81,387 shares during the quarter. Boston Common Asset Management LLC's holdings in Weyerhaeuser were worth $6,632,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. South Plains Financial Inc. acquired a new position in Weyerhaeuser during the fourth quarter worth $25,000. Fourth Dimension Wealth LLC acquired a new position in Weyerhaeuser during the fourth quarter worth $27,000. Assetmark Inc. raised its holdings in Weyerhaeuser by 290.9% during the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 922 shares during the last quarter. Asset Planning Inc acquired a new position in Weyerhaeuser during the fourth quarter worth $36,000. Finally, TD Waterhouse Canada Inc. raised its holdings in Weyerhaeuser by 136.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 807 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on WY. Truist Financial reduced their price objective on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. CIBC reduced their price objective 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. assumed coverage on Weyerhaeuser in a report on Tuesday, April 8th. They set an "overweight" rating and a $31.00 price objective for the company. The Goldman Sachs Group cut Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. Finally, Wall Street Zen raised Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.75.
Check Out Our Latest Stock Report on WY
Weyerhaeuser Price Performance
Shares of NYSE WY traded down $0.13 during trading on Friday, reaching $25.91. The company had a trading volume of 11,663,758 shares, compared to its average volume of 3,791,705. Weyerhaeuser has a twelve month low of $24.10 and a twelve month high of $34.03. The stock has a market capitalization of $18.79 billion, a PE ratio of 47.11, a price-to-earnings-growth ratio of 4.74 and a beta of 1.15. The stock has a 50-day moving average price of $26.26 and a two-hundred day moving average price of $28.64. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.
Weyerhaeuser (NYSE:WY - Get Free Report) last released its earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. The business's quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.16 earnings per share. As a group, sell-side analysts predict that Weyerhaeuser will post 0.78 earnings per share for the current year.
Weyerhaeuser Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.21 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.24%. Weyerhaeuser's payout ratio is currently 168.00%.
Weyerhaeuser declared that its board has approved a stock buyback plan on Thursday, May 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the real estate investment trust to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.
Weyerhaeuser Profile
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Free Report)
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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