Credit Agricole S A Sells 86,734 Shares of Weyerhaeuser Company $WY

Key Points

• Credit Agricole S A has reduced its stake in Weyerhaeuser Company by 21.5%, now holding 317,430 shares valued at approximately $9.29 million.
• Analyst ratings for Weyerhaeuser are mixed, with one Strong Buy, six Buy, one Hold, and one Sell; the average target price is $32.88.
• The company announced a quarterly dividend of $0.21 per share, which results in a 3.3% yield, and initiated a stock repurchase plan worth $1 billion.

Credit Agricole S A lessened its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 21.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,430 shares of the real estate investment trust's stock after selling 86,734 shares during the quarter. Credit Agricole S A's holdings in Weyerhaeuser were worth $9,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of WY. South Plains Financial Inc. bought a new position in Weyerhaeuser in the 4th quarter valued at $25,000. Fourth Dimension Wealth LLC bought a new position in shares of Weyerhaeuser during the 4th quarter worth $27,000. GKV Capital Management Co. Inc. bought a new position in shares of Weyerhaeuser during the 1st quarter worth $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Weyerhaeuser during the 1st quarter worth $31,000. Finally, Costello Asset Management INC bought a new position in shares of Weyerhaeuser during the 1st quarter worth $32,000. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Price Performance

Shares of NYSE WY traded down $0.06 during trading hours on Wednesday, reaching $26.12. 602,196 shares of the stock traded hands, compared to its average volume of 4,068,066. The company has a market capitalization of $18.84 billion, a P/E ratio of 68.83, a price-to-earnings-growth ratio of 81.16 and a beta of 1.08. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. Weyerhaeuser Company has a 52-week low of $24.10 and a 52-week high of $34.03. The company's 50-day simple moving average is $25.94 and its two-hundred day simple moving average is $26.99.

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 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 analyst estimates of $1.94 billion. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. Weyerhaeuser's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. Equities research analysts forecast that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser announced that its board has authorized a stock buyback plan on Thursday, May 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Weyerhaeuser Dividend Announcement

The company 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 dividend of $0.21 per share. The ex-dividend date is Friday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.2%. Weyerhaeuser's payout ratio is currently 221.05%.

Insider Buying and Selling at Weyerhaeuser

In other 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 bought at an average cost of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the transaction, the director directly owned 21,478 shares of the company's stock, valued at $543,178.62. This trade represents a 22.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Weyerhaeuser 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.