Weyerhaeuser Company (NYSE:WY) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 36.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,840 shares of the real estate investment trust's stock after acquiring an additional 16,578 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Weyerhaeuser were worth $1,811,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. South Plains Financial Inc. acquired a new stake in shares of Weyerhaeuser in the fourth quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new stake in Weyerhaeuser in the 4th quarter worth about $27,000. Assetmark Inc. boosted its holdings in Weyerhaeuser by 290.9% in the 4th quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after buying an additional 922 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in Weyerhaeuser by 136.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock worth $39,000 after buying an additional 807 shares in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Weyerhaeuser during the fourth quarter valued at approximately $44,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WY shares. Truist Financial lowered their price target on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. CIBC lowered their target price on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a research note on Tuesday, April 22nd. Citigroup dropped their target price on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. JPMorgan Chase & Co. assumed coverage on shares of Weyerhaeuser in a research note on Tuesday, April 8th. They issued an "overweight" rating and a $31.00 price target on the stock. Finally, The Goldman Sachs Group lowered shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.25.

Weyerhaeuser Trading Down 1.9%

WY stock traded down $0.49 during trading on Friday, reaching $25.83. 10,584,057 shares of the stock were exchanged, compared to its average volume of 3,820,665. The company has a current ratio of 2.04, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $18.74 billion, a price-to-earnings ratio of 51.66, a P/E/G ratio of 33.82 and a beta of 1.16. The business has a 50 day moving average price of $26.08 and a 200-day moving average price of $28.01. Weyerhaeuser Company has a 1 year low of $24.10 and a 1 year high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.11. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The business's revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. On average, research analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.25%. Weyerhaeuser's dividend payout ratio (DPR) is 168.00%.

Weyerhaeuser declared that its Board of Directors has approved a stock buyback plan on Thursday, May 8th that allows the company to repurchase $1.00 billion in outstanding 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 an indication that the company's leadership believes its stock is undervalued.

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.