Price T Rowe Associates Inc. MD Has $1.15 Billion Stake 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 trimmed its position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 4.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,377,637 shares of the real estate investment trust's stock after selling 2,003,641 shares during the quarter. Price T Rowe Associates Inc. MD owned 5.43% of Weyerhaeuser worth $1,152,978,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WY. Vanguard Group Inc. raised its position in Weyerhaeuser by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 113,775,816 shares of the real estate investment trust's stock valued at $3,331,356,000 after buying an additional 339,884 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Weyerhaeuser by 0.5% during the 1st quarter. Wellington Management Group LLP now owns 35,766,174 shares of the real estate investment trust's stock worth $1,047,234,000 after acquiring an additional 193,854 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Weyerhaeuser by 3.8% during the 1st quarter. JPMorgan Chase & Co. now owns 11,931,955 shares of the real estate investment trust's stock worth $349,368,000 after acquiring an additional 440,163 shares during the last quarter. Northern Trust Corp boosted its holdings in Weyerhaeuser by 3.5% during the 4th quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust's stock worth $268,498,000 after acquiring an additional 322,313 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Weyerhaeuser by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,138,010 shares of the real estate investment trust's stock worth $267,561,000 after acquiring an additional 151,929 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Stock Down 1.0%

Shares of NYSE:WY opened at $25.7550 on Friday. The company has a market capitalization of $18.58 billion, a PE ratio of 67.78, a price-to-earnings-growth ratio of 79.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.68. The business has a fifty day moving average price of $25.94 and a two-hundred day moving average price of $27.09. 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 data on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.94 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The business's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. Analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The company 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. The ex-dividend date is Friday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. Weyerhaeuser's dividend payout ratio is presently 221.05%.

Weyerhaeuser declared that its board has authorized a stock repurchase program on Thursday, May 8th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the real estate investment trust to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. DA Davidson cut their price objective on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating on the stock in a report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. The Goldman Sachs Group downgraded shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. Finally, Truist Financial reduced their price objective on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned 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 target price of $32.88.

Insider Buying and Selling at Weyerhaeuser

In other news, Director Sara Grootwassink Lewis purchased 4,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was bought at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the purchase, the director owned 21,478 shares of the company's stock, valued at $543,178.62. The trade was a 22.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company's stock.

Weyerhaeuser 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.

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