Price T Rowe Associates Inc. MD Decreases Position in Weyerhaeuser Company $WY

Key Points

• Price T Rowe Associates Inc. has reduced its stake in Weyerhaeuser Company by 4.8%, holding approximately 39.38 million shares valued at $1.15 billion as of the end of the first quarter.
• Weyerhaeuser reported earnings per share of $0.12 for the last quarter, exceeding analyst expectations, while its revenue fell 2.8% year-over-year, amounting to $1.88 billion.
• The company has declared a quarterly dividend of $0.21 per share, representing a yield of 3.3%, with a payout ratio of 221.05%.

Price T Rowe Associates Inc. MD lessened its position in Weyerhaeuser Company (NYSE:WY - Free Report) by 4.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 39,377,637 shares of the real estate investment trust's stock after selling 2,003,641 shares during the period. Price T Rowe Associates Inc. MD owned approximately 5.43% of Weyerhaeuser worth $1,152,978,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. South Plains Financial Inc. bought a new position in shares of Weyerhaeuser in the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC bought a new stake in Weyerhaeuser during the fourth quarter worth $27,000. GKV Capital Management Co. Inc. bought a new stake in Weyerhaeuser during the first quarter worth $29,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Weyerhaeuser during the first quarter worth $31,000. Finally, Costello Asset Management INC bought a new stake in Weyerhaeuser during the first quarter worth $32,000. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Price Performance

WY stock traded up $0.08 during trading on Wednesday, reaching $26.25. The company's stock had a trading volume of 732,625 shares, compared to its average volume of 4,068,896. The company has a market capitalization of $18.94 billion, a P/E ratio of 69.12, a price-to-earnings-growth ratio of 81.16 and a beta of 1.08. The company's fifty day moving average is $25.94 and its 200-day moving average is $26.99. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. 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 issued its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the business posted $0.21 earnings per share. The business's quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 29th. Weyerhaeuser's payout ratio is currently 221.05%.

Weyerhaeuser announced that its board has initiated a share repurchase plan on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

WY has been the subject of a number of recent research reports. JPMorgan Chase & Co. decreased their target price on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Citigroup decreased their target price on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. The Goldman Sachs Group downgraded Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. Truist Financial reduced their price target on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a research report on Monday, July 28th. Finally, DA Davidson dropped their price target on Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Weyerhaeuser has a consensus rating of "Moderate Buy" and an average target price of $32.88.

Insider Buying and Selling

In other Weyerhaeuser news, Director Sara Grootwassink Lewis acquired 4,000 shares of Weyerhaeuser stock in a transaction that occurred on Monday, August 11th. The stock was bought at an average price of $25.29 per share, with a total value of $101,160.00. Following the completion of the purchase, the director directly owned 21,478 shares of the company's stock, valued at approximately $543,178.62. This represents a 22.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by company insiders.

Weyerhaeuser Company 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.