Envestnet Asset Management Inc. Raises Stake in Weyerhaeuser Company (NYSE:WY)

Envestnet Asset Management Inc. grew its stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 3.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 520,443 shares of the real estate investment trust's stock after purchasing an additional 17,748 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Weyerhaeuser worth $15,239,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in WY. South Plains Financial Inc. purchased a new position in Weyerhaeuser in the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC purchased a new position in Weyerhaeuser in the 4th quarter valued at about $27,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Weyerhaeuser in the 1st quarter valued at about $31,000. TD Waterhouse Canada Inc. lifted 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 purchasing an additional 807 shares in the last quarter. Finally, Graney & King LLC purchased a new position in Weyerhaeuser in the 4th quarter valued at about $44,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Friday. The Goldman Sachs Group downgraded shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. CIBC reduced their target price on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 22nd. Truist Financial reduced their price objective on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.13.

Weyerhaeuser Trading Down 1.5%

NYSE:WY opened at $25.30 on Friday. The stock's 50 day moving average price is $26.19 and its 200 day moving average price is $27.70. Weyerhaeuser Company has a 52 week low of $24.10 and a 52 week high of $34.03. The company has a market capitalization of $18.35 billion, a P/E ratio of 50.60, a P/E/G ratio of 43.15 and a beta of 1.14. 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 (NYSE:WY - Get Free Report) last announced its earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.11. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The firm had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. The company's revenue was down 4.9% on a year-over-year basis. On average, research analysts forecast that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The company 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. This represents a $0.84 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Friday, May 30th. Weyerhaeuser's dividend payout ratio (DPR) is presently 168.00%.

Weyerhaeuser declared that its Board of Directors has approved a stock repurchase program on Thursday, May 8th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the real estate investment trust to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its shares are undervalued.

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.

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