Munich Reinsurance Co Stock Corp in Munich Sells 503,641 Shares of Weyerhaeuser Company $WY

Key Points

• Munich Reinsurance Co reduced its Weyerhaeuser stake by 21.8% in the first quarter, selling 503,641 shares and leaving it with 1,809,185 shares valued at about $44.2 million.
• Weyerhaeuser’s stock was trading lower, opening at $22.50, near its 52-week low of $21.16 and below its 50-day and 200-day moving averages.
• The company beat quarterly earnings expectations, reporting $0.11 EPS versus $0.04 expected, while revenue came in at $1.73 billion; it also paid a quarterly dividend of $0.21, yielding 3.7% annualized.

Munich Reinsurance Co Stock Corp in Munich cut its position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 21.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,809,185 shares of the real estate investment trust's stock after selling 503,641 shares during the period. Munich Reinsurance Co Stock Corp in Munich owned about 0.25% of Weyerhaeuser worth $44,198,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. FNY Investment Advisers LLC purchased a new stake in Weyerhaeuser during the fourth quarter worth $39,000. Addison Advisors LLC increased its holdings in shares of Weyerhaeuser by 83.4% in the 4th quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 757 shares during the period. Bayban bought a new position in shares of Weyerhaeuser in the 4th quarter worth $41,000. Costello Asset Management INC raised its position in shares of Weyerhaeuser by 118.9% in the 4th quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 976 shares in the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of Weyerhaeuser during the 4th quarter worth $43,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen upgraded Weyerhaeuser from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings cut shares of Weyerhaeuser from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 25th. Truist Financial cut their price objective on shares of Weyerhaeuser from $29.00 to $28.00 and set a "hold" rating on the stock in a research report on Wednesday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of Weyerhaeuser from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, June 29th. Finally, Citigroup decreased their target price on shares of Weyerhaeuser from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $29.00.

Weyerhaeuser Trading Down 3.4%

Shares of NYSE:WY opened at $22.50 on Thursday. The business's 50-day moving average is $24.04 and its 200 day moving average is $24.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.80. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.75. The firm has a market capitalization of $16.22 billion, a P/E ratio of 41.66, a P/E/G ratio of 1.34 and a beta of 0.89.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the company earned $0.11 earnings per share. The company's quarterly revenue was down 2.0% on a year-over-year basis. On average, research analysts predict that Weyerhaeuser Company will post 0.31 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were paid a $0.21 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.7%. Weyerhaeuser's dividend payout ratio (DPR) is 155.56%.

Weyerhaeuser Profile

Weyerhaeuser Company NYSE: WY is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.

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