Vestcor Inc Buys 32,651 Shares of Weyerhaeuser Company (NYSE:WY)

Key Points

• Vestcor Inc increased its holdings in Weyerhaeuser Company by 220.2%, acquiring an additional 32,651 shares, bringing its total to 47,479 shares valued at approximately $1.39 million.
• Weyerhaeuser announced a quarterly dividend of $0.21 per share, reflecting an annualized yield of 3.3% despite a high dividend payout ratio of 221.05%.
• Analysts have mixed outlooks for Weyerhaeuser, with a consensus rating of "Moderate Buy" and a price target of $32.88, following various adjustments from financial institutions.

Vestcor Inc raised its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 220.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,479 shares of the real estate investment trust's stock after buying an additional 32,651 shares during the quarter. Vestcor Inc's holdings in Weyerhaeuser were worth $1,390,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WY. South Plains Financial Inc. purchased a new position in Weyerhaeuser in the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC purchased a new position in Weyerhaeuser in the fourth quarter valued at approximately $27,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Weyerhaeuser in the first quarter valued at approximately $31,000. Marshall Investment Management LLC purchased a new position in Weyerhaeuser in the first quarter valued at approximately $36,000. Finally, TD Waterhouse Canada Inc. raised its holdings in Weyerhaeuser by 136.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 807 shares during the period. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

Weyerhaeuser stock traded up $0.19 during trading hours on Monday, reaching $25.27. 3,823,187 shares of the company were exchanged, compared to its average volume of 5,233,889. The firm has a market cap of $18.23 billion, a price-to-earnings ratio of 66.50, a PEG ratio of 65.60 and a beta of 1.08. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $26.10 and a 200 day moving average of $27.50. Weyerhaeuser Company has a 12 month low of $24.10 and a 12 month high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data 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. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%. The company had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the prior year, the business earned $0.21 earnings per share. Weyerhaeuser's revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, research analysts anticipate that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, May 30th. Weyerhaeuser's dividend payout ratio is currently 221.05%.

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

Analysts Set New Price Targets

Several research firms recently commented on WY. DA Davidson cut their price target 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. JPMorgan Chase & Co. dropped their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 1st. Wall Street Zen lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Sunday. Truist Financial dropped their price objective on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a research note on Monday, July 28th. Finally, Citigroup dropped their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Tuesday, June 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.88.

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.