Van Cleef Asset Management Inc Lowers Position in Weyerhaeuser Company (NYSE:WY)

Van Cleef Asset Management Inc trimmed its position in Weyerhaeuser Company (NYSE:WY - Free Report) by 79.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 35,349 shares of the real estate investment trust's stock after selling 133,725 shares during the period. Van Cleef Asset Management Inc's holdings in Weyerhaeuser were worth $1,035,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WY. Jones Financial Companies Lllp increased its holdings in shares of Weyerhaeuser by 36.7% in the 4th quarter. Jones Financial Companies Lllp now owns 11,482 shares of the real estate investment trust's stock worth $323,000 after buying an additional 3,084 shares during the last quarter. Assetmark Inc. grew its holdings in Weyerhaeuser by 290.9% in the 4th quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 922 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Weyerhaeuser in the 4th quarter worth $1,693,000. Raymond James Financial Inc. bought a new stake in Weyerhaeuser in the 4th quarter worth $26,206,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Weyerhaeuser by 6.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 146,210 shares of the real estate investment trust's stock worth $4,116,000 after acquiring an additional 8,675 shares during the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Weyerhaeuser Stock Down 0.1%

NYSE:WY traded down $0.02 on Wednesday, reaching $26.15. 5,317,955 shares of the stock traded hands, compared to its average volume of 3,860,582. The company has a market capitalization of $18.97 billion, a price-to-earnings ratio of 52.30, a PEG ratio of 38.06 and a beta of 1.14. The company has a current ratio of 2.04, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. Weyerhaeuser Company has a 12 month low of $24.10 and a 12 month high of $34.03. The company's fifty day simple moving average is $26.20 and its 200 day simple moving average is $27.82.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, hitting analysts' consensus estimates of $0.11. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.80 billion. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The business's revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 earnings per share. Equities analysts predict that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

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

Weyerhaeuser Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.21%. The ex-dividend date was Friday, May 30th. Weyerhaeuser's dividend payout ratio is currently 168.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WY shares. Truist Financial dropped their target price on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Citigroup dropped their target price on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. CIBC lowered their price target on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target 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 cut shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.13.

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.