DekaBank Deutsche Girozentrale trimmed its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 497,254 shares of the real estate investment trust's stock after selling 23,054 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.07% of Weyerhaeuser worth $14,396,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of WY. South Plains Financial Inc. bought a new position in Weyerhaeuser in the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC bought a new position in Weyerhaeuser in the 4th quarter valued at about $27,000. Barnes Dennig Private Wealth Management LLC bought a new position in Weyerhaeuser in the 1st quarter valued at about $31,000. Assetmark Inc. increased its holdings in Weyerhaeuser by 290.9% in the 4th quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 922 shares during the period. Finally, TD Waterhouse Canada Inc. increased its holdings in Weyerhaeuser by 136.1% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 807 shares during the period. 82.99% of the stock is owned by institutional investors.
Weyerhaeuser Price Performance
Shares of WY traded up $0.11 during mid-day trading on Friday, reaching $26.29. The company had a trading volume of 3,614,121 shares, compared to its average volume of 3,851,101. The company's 50 day simple moving average is $26.21 and its 200 day simple moving average is $27.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 2.04. Weyerhaeuser Company has a 1-year low of $24.10 and a 1-year high of $34.03. The company has a market capitalization of $19.07 billion, a price-to-earnings ratio of 52.58, a P/E/G ratio of 41.13 and a beta of 1.14.
Weyerhaeuser (NYSE:WY - Get Free Report) last posted its earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same period last year, the company earned $0.16 EPS. The firm's revenue was down 4.9% compared to the same quarter last year. Analysts expect that Weyerhaeuser Company will post 0.78 EPS for the current year.
Weyerhaeuser announced that its board has approved a stock repurchase program on Thursday, May 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.
Weyerhaeuser Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.21 per share. The ex-dividend date was Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.20%. Weyerhaeuser's dividend payout ratio is presently 168.00%.
Wall Street Analysts Forecast Growth
Several research firms have commented on WY. Citigroup decreased their target price on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a report on Tuesday, June 3rd. Truist Financial decreased their target price on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their target price on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. CIBC decreased their target price on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group downgraded shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.13.
View Our Latest Stock Analysis on WY
About Weyerhaeuser
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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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