Korea Investment CORP Has $11.21 Million Holdings in 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 reduced its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 25.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 382,741 shares of the real estate investment trust's stock after selling 132,800 shares during the quarter. Korea Investment CORP owned approximately 0.05% of Weyerhaeuser worth $11,207,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. DAVENPORT & Co LLC boosted its holdings 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 worth $584,000 after acquiring an additional 1,480 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Weyerhaeuser by 2.1% in 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 acquiring an additional 1,524 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Weyerhaeuser by 232.0% in the 1st quarter. Farther Finance Advisors LLC now owns 9,476 shares of the real estate investment trust's stock worth $276,000 after acquiring an additional 6,622 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Weyerhaeuser by 85.7% in 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 acquiring an additional 17,132 shares in the last quarter. Finally, CX Institutional bought a new position in Weyerhaeuser in the 1st quarter worth approximately $119,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Stock Performance

Shares of Weyerhaeuser stock opened at $25.7550 on Friday. The firm has a fifty day moving average of $25.94 and a two-hundred day moving average of $27.09. The stock has a market capitalization of $18.58 billion, a price-to-earnings ratio of 67.78, a PEG ratio of 79.69 and a beta of 1.08. Weyerhaeuser Company has a 52 week low of $24.10 and a 52 week high of $34.03. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04.

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

Weyerhaeuser announced that its board has approved a share buyback plan on Thursday, May 8th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the real estate investment trust to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a $0.21 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. Weyerhaeuser's dividend payout ratio is currently 221.05%.

Insider Activity at Weyerhaeuser

In other news, Director Sara Grootwassink Lewis acquired 4,000 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the transaction, the director directly owned 21,478 shares in the company, valued at approximately $543,178.62. This represents a 22.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WY has been the subject of several research analyst reports. Truist Financial dropped their price objective on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a research report on Monday, July 28th. JPMorgan Chase & Co. dropped their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Citigroup dropped their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. DA Davidson dropped their price objective on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. Finally, Wall Street Zen cut shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Weyerhaeuser currently has a consensus rating of "Moderate Buy" and a consensus price target of $32.88.

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.

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