The Manufacturers Life Insurance Company Sells 211,547 Shares of Weyerhaeuser Company $WY

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Weyerhaeuser Company by 18.2%, selling 211,547 shares and holding 953,538 shares valued at approximately $27.92 million.
• Weyerhaeuser's board approved a $1.00 billion stock buyback program, indicating confidence from management that its stock may be undervalued.
• Weyerhaeuser recently announced a quarterly dividend of $0.21 per share, reflecting an annualized dividend yield of 3.2%.

The Manufacturers Life Insurance Company cut its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 18.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 953,538 shares of the real estate investment trust's stock after selling 211,547 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.13% of Weyerhaeuser worth $27,920,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Nuveen LLC bought a new stake in shares of Weyerhaeuser in the first quarter worth $107,330,000. Bank of New York Mellon Corp lifted its position in shares of Weyerhaeuser by 63.9% during the first quarter. Bank of New York Mellon Corp now owns 7,265,484 shares of the real estate investment trust's stock worth $212,733,000 after purchasing an additional 2,833,288 shares during the last quarter. Clean Energy Transition LLP bought a new stake in Weyerhaeuser in the first quarter valued at about $55,429,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Weyerhaeuser by 23,525.2% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,428,378 shares of the real estate investment trust's stock valued at $41,823,000 after buying an additional 1,422,332 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in Weyerhaeuser by 43.6% during the 4th quarter. Deutsche Bank AG now owns 4,196,790 shares of the real estate investment trust's stock worth $118,140,000 after buying an additional 1,273,217 shares during the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WY has been the subject of several recent research reports. Wall Street Zen lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Sunday, August 3rd. Citigroup reduced their price objective 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. Truist Financial lowered their price target on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a research report on Monday, July 28th. JPMorgan Chase & Co. reduced their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Finally, The Goldman Sachs Group downgraded Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $32.88.

Weyerhaeuser Stock Up 2.9%

Shares of WY traded up $0.73 during mid-day trading on Thursday, hitting $25.55. 3,865,356 shares of the company's stock were exchanged, compared to its average volume of 3,643,303. The stock has a market cap of $18.43 billion, a price-to-earnings ratio of 67.23, a P/E/G ratio of 76.01 and a beta of 1.07. The firm has a fifty day moving average of $25.86 and a two-hundred day moving average of $26.83. 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 twelve month low of $24.10 and a twelve month high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.94 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The business's revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.21 earnings per share. On average, sell-side analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

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 given a $0.21 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. Weyerhaeuser's dividend payout ratio (DPR) is currently 221.05%.

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

Insider Buying and Selling at Weyerhaeuser

In other news, Director Sara Grootwassink Lewis acquired 4,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average cost of $25.29 per share, with a total value of $101,160.00. Following the acquisition, the director owned 21,478 shares in the company, valued at approximately $543,178.62. This represents a 22.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company's stock.

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.