Mizuho Securities USA LLC Lowers Stock Holdings in Weyerhaeuser Company (NYSE:WY)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Weyerhaeuser Company by 15.6% in the first quarter, selling 10,766 shares and now owning 58,097 shares valued at $1,701,000.
• Weyerhaeuser reported a 12 cents EPS for the last quarter, exceeding analyst estimates, but its revenue declined 2.8% year-over-year to $1.88 billion.
• The company announced a share buyback plan worth $1.00 billion, indicating that its leadership believes its shares are currently undervalued.

Mizuho Securities USA LLC reduced its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 15.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,097 shares of the real estate investment trust's stock after selling 10,766 shares during the quarter. Mizuho Securities USA LLC's holdings in Weyerhaeuser were worth $1,701,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Weyerhaeuser by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 113,775,816 shares of the real estate investment trust's stock valued at $3,331,356,000 after buying an additional 339,884 shares during the period. Cohen & Steers Inc. lifted its holdings in shares of Weyerhaeuser by 57.5% in the 4th quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust's stock valued at $1,095,726,000 after buying an additional 14,213,243 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Weyerhaeuser by 3.8% in the 1st quarter. JPMorgan Chase & Co. now owns 11,931,955 shares of the real estate investment trust's stock valued at $349,368,000 after buying an additional 440,163 shares during the period. Northern Trust Corp lifted its holdings in shares of Weyerhaeuser by 3.5% in the 4th quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust's stock valued at $268,498,000 after buying an additional 322,313 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Weyerhaeuser by 1.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,138,010 shares of the real estate investment trust's stock valued at $267,561,000 after buying an additional 151,929 shares during the period. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Stock Performance

Weyerhaeuser stock opened at $25.30 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04. The stock has a fifty day moving average of $26.08 and a two-hundred day moving average of $27.31. The company has a market capitalization of $18.25 billion, a price-to-earnings ratio of 66.57, a PEG ratio of 66.64 and a beta of 1.08. 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 announced 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. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.94 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%. The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, analysts anticipate that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser announced that its Board of Directors has approved 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 usually an indication that the company's leadership believes its shares are undervalued.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given 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 dividend yield of 3.3%. Weyerhaeuser's payout ratio is currently 221.05%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WY shares. DA Davidson reduced their price target on Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a report on Tuesday, July 22nd. CIBC reduced their price objective on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a report on Tuesday, April 22nd. Truist Financial reduced their price objective on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a report on Monday, July 28th. JPMorgan Chase & Co. reduced their price objective on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. Finally, The Goldman Sachs Group cut Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.88.

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.

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