Northwest & Ethical Investments L.P. Sells 24,200 Shares of Weyerhaeuser Company $WY

Key Points

• Northwest & Ethical Investments L.P. reduced its holdings in Weyerhaeuser Company by 22.3%, selling 24,200 shares during the first quarter and retaining 84,255 shares valued at approximately $2.47 million.
• Weyerhaeuser's Board of Directors has authorized a $1.00 billion stock buyback program, indicating management's belief that the stock is undervalued.
• Shares of Weyerhaeuser are currently trading at around $25.70, with the company recently reporting a quarterly EPS of $0.12, which exceeded analyst expectations.

Northwest & Ethical Investments L.P. lowered its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 22.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,255 shares of the real estate investment trust's stock after selling 24,200 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Weyerhaeuser were worth $2,467,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Waverly Advisors LLC lifted its stake in shares of Weyerhaeuser by 3.3% in the fourth quarter. Waverly Advisors LLC now owns 10,830 shares of the real estate investment trust's stock worth $305,000 after acquiring an additional 343 shares during the period. S.A. Mason LLC lifted its stake in Weyerhaeuser by 5.6% in the first quarter. S.A. Mason LLC now owns 7,642 shares of the real estate investment trust's stock valued at $224,000 after buying an additional 408 shares during the period. Wahed Invest LLC lifted its stake in Weyerhaeuser by 2.4% in the fourth quarter. Wahed Invest LLC now owns 18,118 shares of the real estate investment trust's stock valued at $510,000 after buying an additional 420 shares during the period. Unison Advisors LLC lifted its stake in Weyerhaeuser by 0.7% in the first quarter. Unison Advisors LLC now owns 69,309 shares of the real estate investment trust's stock valued at $2,029,000 after buying an additional 455 shares during the period. Finally, Colonial Trust Co SC lifted its stake in Weyerhaeuser by 16.0% in the fourth quarter. Colonial Trust Co SC now owns 3,495 shares of the real estate investment trust's stock valued at $98,000 after buying an additional 483 shares during the period. Institutional investors own 82.99% of the company's stock.

Wall Street Analysts Forecast Growth

WY has been the topic of several recent analyst reports. Wall Street Zen lowered Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. The Goldman Sachs Group lowered Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. dropped their price target on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. Truist Financial dropped their price target on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a research note on Monday, July 28th. Finally, Citigroup decreased their price objective on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Weyerhaeuser has an average rating of "Moderate Buy" and a consensus price target of $32.88.

Weyerhaeuser Stock Up 3.9%

Shares of NYSE WY traded up $1.01 during midday trading on Friday, hitting $26.78. 6,048,230 shares of the stock traded hands, compared to its average volume of 4,076,314. The company has a market cap of $19.32 billion, a PE ratio of 70.48, a P/E/G ratio of 79.69 and a beta of 1.08. Weyerhaeuser Company has a one year low of $24.10 and a one year high of $34.03. The business has a 50 day moving average price of $25.94 and a two-hundred day moving average price of $27.09. 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 announced its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. Weyerhaeuser's revenue was down 2.8% compared to the same quarter last year. On average, equities analysts predict that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser Announces Dividend

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 given a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 3.1%. Weyerhaeuser's payout ratio is currently 221.05%.

Weyerhaeuser declared that its Board of Directors has approved a share repurchase plan on Thursday, May 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

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 shares were acquired at an average price of $25.29 per share, with a total value of $101,160.00. Following the completion of the transaction, the director owned 21,478 shares in the company, valued at approximately $543,178.62. This trade represents a 22.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company's stock.

About Weyerhaeuser

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.