Impax Asset Management Group plc Decreases Stock Holdings in Weyerhaeuser Company (NYSE:WY)

Impax Asset Management Group plc decreased its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 96.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,358 shares of the real estate investment trust's stock after selling 861,398 shares during the quarter. Impax Asset Management Group plc's holdings in Weyerhaeuser were worth $860,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in Weyerhaeuser by 36.7% in the fourth quarter. Jones Financial Companies Lllp now owns 11,482 shares of the real estate investment trust's stock worth $323,000 after purchasing an additional 3,084 shares in the last quarter. Assetmark Inc. raised its holdings in Weyerhaeuser by 290.9% in the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after purchasing an additional 922 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Weyerhaeuser in the fourth quarter worth $1,693,000. Aigen Investment Management LP bought a new position in Weyerhaeuser in the fourth quarter worth $314,000. Finally, Raymond James Financial Inc. bought a new position in Weyerhaeuser in the fourth quarter worth $26,206,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

Shares of Weyerhaeuser stock traded down $0.80 during trading on Monday, hitting $25.63. 4,820,267 shares of the company's stock traded hands, compared to its average volume of 3,833,278. Weyerhaeuser Company has a 1 year low of $24.10 and a 1 year high of $34.03. The stock has a market capitalization of $18.59 billion, a P/E ratio of 51.26, a PEG ratio of 39.23 and a beta of 1.14. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 1.26. The business has a 50-day simple moving average of $26.19 and a 200-day simple moving average of $27.85.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.11. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The firm's revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. As a group, analysts forecast that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser declared that its board has approved a share buyback program 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 repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.21 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.28%. Weyerhaeuser's dividend payout ratio is presently 168.00%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Citigroup decreased their price objective on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. The Goldman Sachs Group downgraded Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. Truist Financial reduced their price target on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price target on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. Finally, CIBC reduced their price target on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Weyerhaeuser currently has an average rating of "Moderate Buy" and an average price target of $33.13.

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.