Weyerhaeuser Company (NYSE:WY) Stake Lifted by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 21.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 87,107 shares of the real estate investment trust's stock after buying an additional 15,174 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Weyerhaeuser were worth $2,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WY. Cohen & Steers Inc. increased its position in shares of Weyerhaeuser by 57.5% during 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 purchasing an additional 14,213,243 shares during the period. Norges Bank acquired a new position in Weyerhaeuser during the fourth quarter worth about $638,470,000. Geode Capital Management LLC raised its position in Weyerhaeuser by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 20,171,701 shares of the real estate investment trust's stock worth $566,527,000 after acquiring an additional 637,643 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in Weyerhaeuser by 1.1% in the 4th 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 acquiring 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 4th quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust's stock valued at $268,498,000 after purchasing an additional 322,313 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Stock Up 1.8%

WY stock opened at $26.70 on Thursday. The firm has a market cap of $19.36 billion, a PE ratio of 53.40, a PEG ratio of 34.04 and a beta of 1.14. Weyerhaeuser Company has a 1 year low of $24.10 and a 1 year high of $34.03. The company has a fifty day simple moving average of $26.14 and a 200 day simple moving average of $27.89. 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 (NYSE:WY - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The business's quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Sell-side analysts anticipate that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.21 per share. The ex-dividend date was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.15%. Weyerhaeuser's payout ratio is currently 168.00%.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WY shares. The Goldman Sachs Group lowered Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. dropped their price target on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday. CIBC decreased their target price on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a report on Tuesday, April 22nd. Truist Financial cut their price target on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup decreased their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Weyerhaeuser currently has an average 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.

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