Canada Pension Plan Investment Board Has $24.24 Million Stake in Weyerhaeuser Company $WY

Key Points

• Canada Pension Plan Investment Board reduced its stake in Weyerhaeuser by 66.7%, owning 827,886 shares valued at approximately $24.24 million after selling over 1.6 million shares in the first quarter.
• Weyerhaeuser's recent quarterly earnings report revealed an EPS of $0.12, beating estimates, although its revenue was 2.8% lower year-over-year at $1.88 billion.
• The company declared a quarterly dividend of $0.21, representing an annualized yield of 3.2%, alongside a $1 billion stock buyback plan indicating confidence in the stock's valuation.

Canada Pension Plan Investment Board decreased its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 66.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 827,886 shares of the real estate investment trust's stock after selling 1,657,579 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.11% of Weyerhaeuser worth $24,241,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new position in Weyerhaeuser during the fourth quarter worth $27,000. GKV Capital Management Co. Inc. acquired a new position in Weyerhaeuser during the first quarter worth $29,000. Barnes Dennig Private Wealth Management LLC acquired a new position in Weyerhaeuser during the first quarter worth $31,000. Costello Asset Management INC acquired a new position in Weyerhaeuser during the first quarter worth $32,000. Finally, Marshall Investment Management LLC acquired a new position in Weyerhaeuser during the first quarter worth $36,000. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

WY stock traded up $0.73 during trading hours on Thursday, reaching $25.55. The stock had a trading volume of 3,865,356 shares, compared to its average volume of 4,073,778. The stock has a market capitalization of $18.43 billion, a PE ratio of 67.23, a price-to-earnings-growth ratio of 79.23 and a beta of 1.07. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.68. The stock has a 50-day simple moving average of $25.86 and a 200 day simple moving average of $26.83. Weyerhaeuser Company has a fifty-two week low of $24.10 and a fifty-two week high of $34.03.

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

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, August 29th. Weyerhaeuser's dividend payout ratio (DPR) is currently 221.05%.

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wall Street Zen cut shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. The Goldman Sachs Group cut shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. Citigroup cut their price target on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. DA Davidson cut their price target on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Finally, Truist Financial cut their price target on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a research note on Monday, July 28th. 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 given a Sell rating to the company's stock. According to data from MarketBeat, Weyerhaeuser presently has an average rating of "Moderate Buy" and a consensus target price of $32.88.

Insider Activity

In related news, Director Sara Grootwassink Lewis bought 4,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was bought at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the purchase, the director owned 21,478 shares in the company, valued at $543,178.62. This represents a 22.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.27% of the company's stock.

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.