Walleye Capital LLC Decreases Stock Holdings in Weyerhaeuser Company $WY

Key Points

• Walleye Capital LLC significantly reduced its holdings in Weyerhaeuser Company by 82.6% during the first quarter, dropping from 58,468 shares to just 10,196 shares.
• Weyerhaeuser announced a quarterly dividend of $0.21 per share, representing an annual yield of 3.4%, while its dividend payout ratio stands at 221.05%.
• Recent analyst ratings for Weyerhaeuser show a shift, with DA Davidson lowering its price target while several firms have changed their ratings, leaving the stock with an average rating of "Moderate Buy."

Walleye Capital LLC trimmed its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 82.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,196 shares of the real estate investment trust's stock after selling 48,272 shares during the quarter. Walleye Capital LLC's holdings in Weyerhaeuser were worth $299,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC bought a new stake in Weyerhaeuser during the fourth quarter valued at approximately $27,000. GKV Capital Management Co. Inc. bought a new stake in Weyerhaeuser during the first quarter valued at approximately $29,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Weyerhaeuser during the first quarter valued at approximately $31,000. Costello Asset Management INC bought a new stake in Weyerhaeuser during the first quarter valued at approximately $32,000. Finally, Marshall Investment Management LLC bought a new stake in Weyerhaeuser during the first quarter valued at approximately $36,000. 82.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WY has been the subject of several recent research reports. DA Davidson cut their target price on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 22nd. Wall Street Zen lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. The Goldman Sachs Group lowered shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. Truist Financial dropped their price target on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. dropped 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.88.

Weyerhaeuser Price Performance

Shares of NYSE:WY opened at $24.81 on Thursday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04. The firm has a fifty day moving average price of $25.86 and a 200 day moving average price of $26.83. Weyerhaeuser Company has a fifty-two week low of $24.10 and a fifty-two week high of $34.03. The firm has a market cap of $17.90 billion, a price-to-earnings ratio of 65.28, a P/E/G ratio of 79.23 and a beta of 1.07.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business earned $0.21 earnings per share. Weyerhaeuser's revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.4%. Weyerhaeuser's dividend payout ratio is presently 221.05%.

Weyerhaeuser announced that its board has initiated a share buyback plan 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 reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Weyerhaeuser

In other Weyerhaeuser news, Director Sara Grootwassink Lewis purchased 4,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were bought at an average price of $25.29 per share, with a total value of $101,160.00. Following the completion of the purchase, the director directly owned 21,478 shares in the company, valued at $543,178.62. This trade represents a 22.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.27% of the stock is currently owned by insiders.

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.

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