Korea Investment CORP Sells 132,800 Shares of Weyerhaeuser Company $WY

Key Points

• Korea Investment CORP has reduced its holdings in Weyerhaeuser Company by 25.8%, owning approximately $11.21 million worth of shares after selling 132,800 shares.
• The company recently announced a $1 billion share buyback plan, indicating management's belief that the stock may be undervalued.
• Weyerhaeuser reported quarterly earnings, with an EPS of $0.12, surpassing analysts' expectations, but revenue declined 2.8% year-over-year to $1.88 billion.

Korea Investment CORP lessened its position in Weyerhaeuser Company (NYSE:WY - Free Report) by 25.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 382,741 shares of the real estate investment trust's stock after selling 132,800 shares during the period. Korea Investment CORP owned about 0.05% of Weyerhaeuser worth $11,207,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. DAVENPORT & Co LLC grew its position in shares of Weyerhaeuser by 8.0% in the 1st quarter. DAVENPORT & Co LLC now owns 19,932 shares of the real estate investment trust's stock valued at $584,000 after acquiring an additional 1,480 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Weyerhaeuser by 2.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 74,154 shares of the real estate investment trust's stock worth $2,171,000 after buying an additional 1,524 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Weyerhaeuser by 232.0% during the 1st quarter. Farther Finance Advisors LLC now owns 9,476 shares of the real estate investment trust's stock worth $276,000 after buying an additional 6,622 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in shares of Weyerhaeuser by 85.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 37,129 shares of the real estate investment trust's stock worth $1,087,000 after buying an additional 17,132 shares during the period. Finally, CX Institutional bought a new stake in shares of Weyerhaeuser during the 1st quarter worth about $119,000. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

NYSE WY traded down $0.02 during trading on Wednesday, reaching $26.15. The company's stock had a trading volume of 2,985,982 shares, compared to its average volume of 4,081,294. 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 firm has a market capitalization of $18.87 billion, a price-to-earnings ratio of 68.81, a price-to-earnings-growth ratio of 80.15 and a beta of 1.08. Weyerhaeuser Company has a 12 month low of $24.10 and a 12 month high of $34.03. The firm has a 50 day moving average price of $25.94 and a 200 day moving average price of $26.98.

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

Weyerhaeuser Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.2%. Weyerhaeuser's payout ratio is currently 221.05%.

Weyerhaeuser announced that its board has initiated a share buyback plan on Thursday, May 8th that allows the company to repurchase $1.00 billion in 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 generally a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages recently commented on WY. DA Davidson reduced their target price on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. The Goldman Sachs Group downgraded shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. Wall Street Zen downgraded shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Truist Financial reduced their target price on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a report on Monday, July 28th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Weyerhaeuser presently has a consensus rating of "Moderate Buy" and an average price target of $32.88.

Insider Transactions at Weyerhaeuser

In other Weyerhaeuser news, Director Sara Grootwassink Lewis acquired 4,000 shares of the business's stock in a transaction on Monday, August 11th. The stock was purchased at an average price of $25.29 per share, with a total value of $101,160.00. Following the acquisition, the director directly owned 21,478 shares of the company's stock, valued at approximately $543,178.62. This trade represents a 22.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is owned by corporate insiders.

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.