Public Sector Pension Investment Board Has $8.78 Million Position in Weyerhaeuser Company (NYSE:WY)

Key Points

• Public Sector Pension Investment Board increased its stake in Weyerhaeuser Company by 59.1%, owning 300,000 shares valued at approximately $8.78 million.
• Weyerhaeuser recently announced a quarterly dividend of $0.21 per share, which translates to a 3.3% dividend yield.
• Analyst ratings for Weyerhaeuser have been mixed, with a downgrade from some firms, while the consensus rating remains a "Moderate Buy" with a target price of $32.88.

Public Sector Pension Investment Board boosted its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 59.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,000 shares of the real estate investment trust's stock after acquiring an additional 111,454 shares during the period. Public Sector Pension Investment Board's holdings in Weyerhaeuser were worth $8,784,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. South Plains Financial Inc. acquired a new position in shares of Weyerhaeuser in the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC purchased a new stake in Weyerhaeuser during the fourth quarter worth approximately $27,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Weyerhaeuser during the first quarter worth approximately $31,000. Costello Asset Management INC purchased a new stake in Weyerhaeuser during the first quarter worth approximately $32,000. Finally, Marshall Investment Management LLC purchased a new stake in Weyerhaeuser during the first quarter worth approximately $36,000. Institutional investors and hedge funds own 82.99% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on WY. Wall Street Zen downgraded shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Citigroup decreased their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a research note on Tuesday, July 1st. The Goldman Sachs Group downgraded shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. Finally, Truist Financial decreased their target price on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a research note on Monday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Weyerhaeuser presently has an average rating of "Moderate Buy" and a consensus target price of $32.88.

Weyerhaeuser Stock Down 1.7%

WY traded down $0.46 during trading on Friday, hitting $25.84. The company had a trading volume of 4,414,162 shares, compared to its average volume of 4,602,981. The company has a market cap of $18.64 billion, a PE ratio of 68.00, a P/E/G ratio of 74.87 and a beta of 1.08. The business has a 50-day moving average of $26.05 and a 200-day moving average of $27.20. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.68. 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 posted its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.94 billion. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The firm's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. As a group, analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, August 29th. Weyerhaeuser's dividend payout ratio is 221.05%.

Weyerhaeuser declared that its Board of Directors has initiated a share buyback 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 reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Weyerhaeuser

In other Weyerhaeuser news, Director Sara Grootwassink Lewis bought 4,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were bought at an average cost of $25.29 per share, with a total value of $101,160.00. Following the completion of the acquisition, the director owned 21,478 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.