Corient IA LLC Takes $293,000 Position in Weyerhaeuser Company $WY

Key Points

• Corient IA LLC purchased 10,000 shares of Weyerhaeuser Company (NYSE: WY), valued at approximately $293,000, during the first quarter as disclosed in their SEC filing.
• Weyerhaeuser has announced a quarterly dividend of $0.21, with a payout date of September 12th, resulting in an annualized dividend yield of 3.3%.
• Weyerhaeuser's recent earnings report showed a net margin of 3.97% with a revenue of $1.88 billion, which was below analysts' expectations of $1.94 billion.

Corient IA LLC acquired a new stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,000 shares of the real estate investment trust's stock, valued at approximately $293,000.

Several other institutional investors have also bought and sold shares of the business. Tocqueville Asset Management L.P. lifted its holdings in shares of Weyerhaeuser by 5.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 1,514,267 shares of the real estate investment trust's stock worth $44,338,000 after acquiring an additional 83,678 shares during the last quarter. Nations Financial Group Inc. IA ADV bought a new stake in shares of Weyerhaeuser in the 1st quarter worth about $221,000. American Century Companies Inc. lifted its holdings in shares of Weyerhaeuser by 64.1% in the 1st quarter. American Century Companies Inc. now owns 562,358 shares of the real estate investment trust's stock worth $16,466,000 after acquiring an additional 219,618 shares during the last quarter. Horizon Investments LLC lifted its holdings in shares of Weyerhaeuser by 5.2% in the 1st quarter. Horizon Investments LLC now owns 10,468 shares of the real estate investment trust's stock worth $307,000 after acquiring an additional 516 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Weyerhaeuser in the 1st quarter worth about $1,293,000. Institutional investors own 82.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. 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 lowered their target price on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a report on Monday, July 28th. Wall Street Zen lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Weyerhaeuser currently has a consensus rating of "Moderate Buy" and an average price target of $32.88.

Insiders Place Their Bets

In related news, Director Sara Grootwassink Lewis bought 4,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were bought at an average price of $25.29 per share, with a total value of $101,160.00. Following the transaction, the director owned 21,478 shares in the company, valued at approximately $543,178.62. This trade represents a 22.89% increase in their ownership of the stock. The acquisition 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 Stock Performance

WY stock traded up $1.01 during trading on Friday, reaching $26.78. The company had a trading volume of 6,033,040 shares, compared to its average volume of 4,055,885. The company has a market cap of $19.32 billion, a price-to-earnings ratio of 70.48, a price-to-earnings-growth ratio of 79.69 and a beta of 1.08. Weyerhaeuser Company has a twelve month low of $24.10 and a twelve month high of $34.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04. The firm has a 50-day simple moving average of $25.94 and a 200-day simple moving average of $27.09.

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

Weyerhaeuser Announces Dividend

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

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