Illinois Municipal Retirement Fund Buys 210,917 Shares of Weyerhaeuser Company (NYSE:WY)

Illinois Municipal Retirement Fund boosted its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 1,502.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 224,955 shares of the real estate investment trust's stock after acquiring an additional 210,917 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Weyerhaeuser were worth $6,587,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. South Plains Financial Inc. acquired a new stake in shares of Weyerhaeuser in the 4th quarter valued at $25,000. Fourth Dimension Wealth LLC bought a new position in Weyerhaeuser during the fourth quarter valued at about $27,000. Assetmark Inc. boosted its stake in shares of Weyerhaeuser by 290.9% during the 4th quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 922 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Weyerhaeuser by 136.1% during 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 acquiring an additional 807 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of Weyerhaeuser in the 4th quarter valued at approximately $44,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WY has been the subject of several research analyst reports. Citigroup cut their price objective on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. Truist Financial reduced their price objective on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. assumed coverage on shares of Weyerhaeuser in a research report on Tuesday, April 8th. They set an "overweight" rating and a $31.00 target price on the stock. CIBC cut their target price on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group lowered shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $33.25.

Weyerhaeuser Price Performance

NYSE:WY traded down $0.15 during mid-day trading on Monday, hitting $25.70. The company's stock had a trading volume of 628,749 shares, compared to its average volume of 3,802,295. The stock has a fifty day moving average of $26.08 and a 200-day moving average of $27.94. The company has a current ratio of 2.04, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $18.64 billion, a price-to-earnings ratio of 51.51, a P/E/G ratio of 33.53 and a beta of 1.16. Weyerhaeuser Company has a fifty-two week low of $24.10 and a fifty-two week high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last released 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 company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The business's revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.16 EPS. As a group, equities analysts forecast that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser declared that its Board of Directors has initiated a share 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 purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Friday, May 30th. Weyerhaeuser's dividend payout ratio (DPR) is presently 168.00%.

Weyerhaeuser Company 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.