Oppenheimer & Co. Inc. Boosts Stock Position in Weyerhaeuser Company (NYSE:WY)

Oppenheimer & Co. Inc. grew its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 254,723 shares of the real estate investment trust's stock after purchasing an additional 12,307 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Weyerhaeuser were worth $7,458,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in WY. Norges Bank acquired a new stake in shares of Weyerhaeuser during the 4th quarter worth approximately $638,470,000. Cohen & Steers Inc. raised its position in shares of Weyerhaeuser by 57.5% during 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 acquiring an additional 14,213,243 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Weyerhaeuser by 122.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,881,592 shares of the real estate investment trust's stock valued at $137,417,000 after purchasing an additional 2,685,634 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of Weyerhaeuser by 23,525.2% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,428,378 shares of the real estate investment trust's stock worth $41,823,000 after purchasing an additional 1,422,332 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Weyerhaeuser by 43.6% during the fourth quarter. Deutsche Bank AG now owns 4,196,790 shares of the real estate investment trust's stock worth $118,140,000 after purchasing an additional 1,273,217 shares during the period. Institutional investors own 82.99% of the company's stock.

Wall Street Analyst Weigh In

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

Weyerhaeuser Price Performance

Shares of NYSE:WY traded up $0.10 during trading on Tuesday, reaching $26.68. 2,929,284 shares of the company traded hands, compared to its average volume of 3,836,941. The firm has a market capitalization of $19.35 billion, a PE ratio of 53.36, a PEG ratio of 33.96 and a beta of 1.16. Weyerhaeuser Company has a 52 week low of $24.10 and a 52 week high of $34.03. The company has a quick ratio of 1.26, a current ratio of 2.04 and a debt-to-equity ratio of 0.52. The company's 50 day moving average is $26.04 and its two-hundred day moving average is $28.07.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The company had revenue of $1.76 billion for 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 firm's quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.16 EPS. As a group, sell-side analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser announced that its Board of Directors has initiated a stock buyback program on Thursday, May 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued 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 dividend yield of 3.15%. Weyerhaeuser's dividend payout ratio is 168.00%.

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.