Zurcher Kantonalbank Zurich Cantonalbank Purchases 30,961 Shares of Weyerhaeuser Company (NYSE:WY)

Key Points

• Zurcher Kantonalbank increased its stake in Weyerhaeuser Company by 21.2% in the first quarter, acquiring an additional 30,961 shares, bringing its total holdings to 177,171 shares valued at $5,188,000.
• Weyerhaeuser reported earnings of $0.12 per share for the last quarter, surpassing analyst expectations of $0.10, despite a revenue decline of 2.8% compared to the previous year.
• The company also announced a stock buyback plan allowing for the repurchase of up to $1 billion in outstanding shares, signaling the leadership's belief that the stock is currently undervalued.

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 21.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,171 shares of the real estate investment trust's stock after purchasing an additional 30,961 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Weyerhaeuser were worth $5,188,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Cohen & Steers Inc. lifted its position in shares of Weyerhaeuser by 57.5% during the fourth quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust's stock worth $1,095,726,000 after purchasing an additional 14,213,243 shares in the last quarter. Geode Capital Management LLC raised its position in Weyerhaeuser by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 20,171,701 shares of the real estate investment trust's stock worth $566,527,000 after purchasing an additional 637,643 shares during the last quarter. Northern Trust Corp raised its position in Weyerhaeuser by 3.5% in the 4th quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust's stock worth $268,498,000 after purchasing an additional 322,313 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Weyerhaeuser by 2.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,065,565 shares of the real estate investment trust's stock valued at $264,171,000 after buying an additional 213,062 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Weyerhaeuser by 63.9% in the 1st quarter. Bank of New York Mellon Corp now owns 7,265,484 shares of the real estate investment trust's stock valued at $212,733,000 after buying an additional 2,833,288 shares during the period. 82.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WY shares. Truist Financial cut their price target on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a research note on Monday, July 28th. The Goldman Sachs Group downgraded shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. DA Davidson reduced their target price on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating on the stock in a research note on Tuesday, July 22nd. CIBC cut their price objective on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup reduced 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $32.88.

Weyerhaeuser Trading Up 0.1%

WY traded up $0.03 during mid-day trading on Friday, hitting $25.08. The stock had a trading volume of 4,684,519 shares, compared to its average volume of 4,999,649. The stock's fifty day simple moving average is $26.10 and its 200-day simple moving average is $27.53. The firm has a market capitalization of $18.10 billion, a price-to-earnings ratio of 66.00, a price-to-earnings-growth ratio of 65.60 and a beta of 1.08. Weyerhaeuser Company has a 1-year low of $24.10 and a 1-year high of $34.03. 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 (NYSE:WY - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.12 EPS for the quarter, topping 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 business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the business posted $0.21 EPS. The firm's revenue was down 2.8% compared to the same quarter last year. As a group, research analysts forecast that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Friday, May 30th. Weyerhaeuser's dividend payout ratio is presently 221.05%.

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

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.