Weyerhaeuser Company (NYSE:WY) Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Weyerhaeuser Company by 28.9%, holding $281.46 million worth of shares after selling nearly 3.9 million shares in the first quarter.
• The company reported a quarterly earnings per share (EPS) of $0.12, exceeding estimates, but experienced a 2.8% decline in revenue year-over-year.
• Weyerhaeuser has authorized a $1 billion stock repurchase plan, signaling confidence that its shares may be undervalued, alongside announcing a quarterly dividend of $0.21.

Invesco Ltd. reduced its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 28.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,612,844 shares of the real estate investment trust's stock after selling 3,901,947 shares during the period. Invesco Ltd. owned 1.33% of Weyerhaeuser worth $281,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. South Plains Financial Inc. acquired a new stake in shares of Weyerhaeuser during the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC bought a new position in shares of Weyerhaeuser in the fourth quarter valued at approximately $27,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Weyerhaeuser in the first quarter valued at approximately $31,000. Costello Asset Management INC acquired a new position in shares of Weyerhaeuser during the 1st quarter worth about $32,000. Finally, Marshall Investment Management LLC bought a new stake in Weyerhaeuser in the 1st quarter valued at $36,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WY shares. CIBC reduced 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. DA Davidson lowered their price objective on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. Citigroup reduced their target price on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. The Goldman Sachs Group downgraded Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen downgraded Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.88.

Weyerhaeuser Stock Down 0.4%

WY traded down $0.10 during trading on Thursday, reaching $26.31. The stock had a trading volume of 3,300,921 shares, compared to its average volume of 4,671,673. The stock's 50 day moving average is $26.07 and its two-hundred day moving average is $27.26. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $18.99 billion, a price-to-earnings ratio of 69.25, a P/E/G ratio of 76.52 and a beta of 1.08. Weyerhaeuser Company has a one year low of $24.10 and a one year high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the company earned $0.21 earnings per share. The company's revenue was down 2.8% on a year-over-year basis. As a group, analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, August 29th. Weyerhaeuser's dividend payout ratio is currently 221.05%.

Weyerhaeuser declared that its board has authorized a share buyback program on Thursday, May 8th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Weyerhaeuser

In other news, Director Sara Grootwassink Lewis acquired 4,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the acquisition, the director directly owned 21,478 shares of the company's stock, valued at $543,178.62. The trade was a 22.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company's stock.

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.