Weyerhaeuser Company $WY Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its holdings in Weyerhaeuser Company by 64.1%, now owning 562,358 shares worth approximately $16.47 million.
• Weyerhaeuser announced a quarterly dividend of $0.21 per share, which will be paid on September 12th, representing an annualized yield of 3.1%.
• Weyerhaeuser's Board of Directors approved a stock buyback plan allowing the company to repurchase up to $1.00 billion, indicating that they believe the stock is undervalued.

American Century Companies Inc. grew its position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 64.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 562,358 shares of the real estate investment trust's stock after purchasing an additional 219,618 shares during the quarter. American Century Companies Inc. owned approximately 0.08% of Weyerhaeuser worth $16,466,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. South Plains Financial Inc. purchased a new position in shares of Weyerhaeuser during the 4th quarter valued at approximately $25,000. Fourth Dimension Wealth LLC purchased a new stake in Weyerhaeuser in the 4th quarter worth $27,000. GKV Capital Management Co. Inc. purchased a new stake in Weyerhaeuser in the 1st quarter worth $29,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Weyerhaeuser in the 1st quarter worth $31,000. Finally, Costello Asset Management INC purchased a new stake in Weyerhaeuser in the 1st quarter worth $32,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Sara Grootwassink Lewis bought 4,000 shares of the firm's stock in a transaction 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 transaction, the director directly owned 21,478 shares of the company's stock, valued at $543,178.62. This represents a 22.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by insiders.

Weyerhaeuser Trading Down 0.1%

Shares of WY stock traded down $0.02 on Wednesday, hitting $26.15. 2,985,982 shares of the stock traded hands, compared to its average volume of 4,081,294. The firm's 50-day moving average price is $25.94 and its two-hundred day moving average price is $26.98. 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 stock has a market capitalization of $18.87 billion, a PE ratio of 68.81, a PEG ratio of 80.15 and a beta of 1.08. Weyerhaeuser Company has a twelve month low of $24.10 and a twelve month high of $34.03.

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

Weyerhaeuser declared that its board has approved 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 reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a $0.21 dividend. 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 3.2%. Weyerhaeuser's dividend payout ratio is presently 221.05%.

Analyst Ratings Changes

Several brokerages recently commented on WY. Wall Street Zen lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Citigroup cut their price target on shares of Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a report on Tuesday, June 3rd. Truist Financial cut their price target on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a report on Monday, July 28th. JPMorgan Chase & Co. cut their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. Finally, DA Davidson lowered 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. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.