Bowen Hanes & Co. Inc. Increases Holdings in Weyerhaeuser Company $WY

Key Points

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Bowen Hanes & Co. Inc. grew its position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,035,758 shares of the real estate investment trust's stock after purchasing an additional 60,000 shares during the period. Bowen Hanes & Co. Inc. owned approximately 0.14% of Weyerhaeuser worth $30,327,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WY. South Plains Financial Inc. acquired a new stake in shares of Weyerhaeuser in the fourth quarter valued at $25,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Weyerhaeuser in the fourth quarter valued at $27,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Weyerhaeuser in the first quarter valued at $29,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Weyerhaeuser in the first quarter valued at $31,000. Finally, Costello Asset Management INC purchased a new position in Weyerhaeuser in the first quarter valued at $32,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wall Street Zen lowered Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. DA Davidson dropped their target price on Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Truist Financial dropped their target price on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a report on Monday, July 28th. The Goldman Sachs Group lowered Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.88.

Insider Transactions at Weyerhaeuser

In related news, Director Sara Grootwassink Lewis purchased 4,000 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the transaction, the director directly owned 21,478 shares of the company's stock, valued at approximately $543,178.62. The trade was a 22.89% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.27% of the stock is owned by company insiders.

Weyerhaeuser Stock Performance

Shares of WY traded up $1.01 during midday trading on Friday, reaching $26.78. 6,048,230 shares of the stock were exchanged, compared to its average volume of 4,076,314. The business's 50-day moving average price is $25.94 and its 200 day moving average price is $27.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.68. Weyerhaeuser Company has a twelve month low of $24.10 and a twelve month high of $34.03. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 70.48, a PEG ratio of 79.69 and a beta of 1.08.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.94 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. On average, sell-side analysts expect that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, August 29th. Weyerhaeuser's payout ratio is 221.05%.

Weyerhaeuser declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is 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.