Handelsbanken Fonder AB Reduces Stock Position in Weyerhaeuser (NYSE:WY)

Handelsbanken Fonder AB cut its holdings in Weyerhaeuser (NYSE:WY - Free Report) by 6.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 314,945 shares of the real estate investment trust's stock after selling 20,823 shares during the period. Handelsbanken Fonder AB's holdings in Weyerhaeuser were worth $9,222,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WY. SG Americas Securities LLC lifted its stake in Weyerhaeuser by 89.6% during the first quarter. SG Americas Securities LLC now owns 41,257 shares of the real estate investment trust's stock worth $1,208,000 after purchasing an additional 19,501 shares in the last quarter. GAMMA Investing LLC lifted its stake in Weyerhaeuser by 23.3% during the first quarter. GAMMA Investing LLC now owns 15,682 shares of the real estate investment trust's stock worth $459,000 after purchasing an additional 2,967 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in Weyerhaeuser during the first quarter worth $283,000. Farther Finance Advisors LLC lifted its stake in Weyerhaeuser by 232.0% during the first quarter. Farther Finance Advisors LLC now owns 9,476 shares of the real estate investment trust's stock worth $276,000 after purchasing an additional 6,622 shares in the last quarter. Finally, Capital Investment Advisors LLC acquired a new position in Weyerhaeuser during the first quarter worth $236,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WY shares. The Goldman Sachs Group cut Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. CIBC decreased their price target on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a research note on Tuesday, April 22nd. Citigroup cut their price objective on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, June 3rd. JPMorgan Chase & Co. started coverage on Weyerhaeuser in a research report on Tuesday, April 8th. They set an "overweight" rating and a $31.00 price objective on the stock. Finally, Truist Financial cut their price objective on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Weyerhaeuser currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.25.

Weyerhaeuser Stock Down 1.8%

Shares of Weyerhaeuser stock traded down $0.49 during trading hours on Friday, reaching $26.81. 2,808,114 shares of the company were exchanged, compared to its average volume of 3,799,688. The firm has a market cap of $19.44 billion, a PE ratio of 48.74, a PEG ratio of 4.74 and a beta of 1.16. The stock's fifty day moving average is $26.00 and its 200 day moving average is $28.32. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.79. Weyerhaeuser has a 1 year low of $24.10 and a 1 year high of $34.03.

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, meeting the consensus estimate of $0.11. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. Weyerhaeuser's revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. As a group, equities research analysts forecast that Weyerhaeuser will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Friday, May 30th. Weyerhaeuser's dividend payout ratio (DPR) is presently 168.00%.

Weyerhaeuser declared that its board has approved a stock repurchase plan on Thursday, May 8th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is 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.