Assenagon Asset Management S.A. Sells 71,164 Shares of Weyerhaeuser Company (NYSE:WY)

Assenagon Asset Management S.A. lessened its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 71.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,974 shares of the real estate investment trust's stock after selling 71,164 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Weyerhaeuser were worth $848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Cohen & Steers Inc. lifted its position in Weyerhaeuser by 57.5% in the 4th quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust's stock valued at $1,095,726,000 after acquiring an additional 14,213,243 shares in the last quarter. Norges Bank purchased a new position in shares of Weyerhaeuser in the fourth quarter worth $638,470,000. Geode Capital Management LLC lifted its holdings in shares of Weyerhaeuser by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 20,171,701 shares of the real estate investment trust's stock valued at $566,527,000 after purchasing an additional 637,643 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of Weyerhaeuser by 1.1% during the fourth quarter. First Eagle Investment Management LLC now owns 14,362,306 shares of the real estate investment trust's stock valued at $404,299,000 after buying an additional 158,800 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Weyerhaeuser by 3.5% during the fourth quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust's stock valued at $268,498,000 after buying an additional 322,313 shares during the last quarter. Institutional investors own 82.99% of the company's stock.

Analyst Upgrades and Downgrades

WY has been the topic of several research analyst reports. The Goldman Sachs Group cut shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. CIBC lowered their price objective on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock 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 on the stock in a report on Tuesday, June 3rd. JPMorgan Chase & Co. started coverage on shares of Weyerhaeuser in a research note on Tuesday, April 8th. They set an "overweight" rating and a $31.00 target price for the company. Finally, Truist Financial lowered their price target on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $33.25.

Weyerhaeuser Stock Performance

Shares of WY stock traded up $0.22 during trading hours on Friday, reaching $26.19. 6,493,299 shares of the company traded hands, compared to its average volume of 3,789,694. The firm has a 50-day moving average price of $26.03 and a 200 day moving average price of $28.12. The company has a market cap of $18.99 billion, a P/E ratio of 52.37, a P/E/G ratio of 33.96 and a beta of 1.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 1.26. 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 issued its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The company's revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. As a group, sell-side analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser announced that its board has approved 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 purchase 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.

Weyerhaeuser Announces Dividend

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

Weyerhaeuser 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.