Weyerhaeuser Company $WY Shares Purchased by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has increased its stake in Weyerhaeuser Company by 25.8%, owning approximately 2.7 million shares valued at $79.45 million after purchasing an additional 557,881 shares.
• Weyerhaeuser's Board of Directors has authorized a $1 billion stock buyback program, indicating confidence that the company's shares are currently undervalued.
• The company recently reported a quarterly $0.12 earnings per share (EPS), surpassing analysts' expectations but showed a year-over-year revenue decline of 2.8%.

Hsbc Holdings PLC raised its position in Weyerhaeuser Company (NYSE:WY - Free Report) by 25.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,722,403 shares of the real estate investment trust's stock after purchasing an additional 557,881 shares during the period. Hsbc Holdings PLC owned about 0.38% of Weyerhaeuser worth $79,453,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WY. NewEdge Advisors LLC lifted its stake in shares of Weyerhaeuser by 4.4% during the fourth quarter. NewEdge Advisors LLC now owns 17,377 shares of the real estate investment trust's stock valued at $489,000 after buying an additional 726 shares during the period. MetLife Investment Management LLC raised its holdings in Weyerhaeuser by 1.7% in the 4th quarter. MetLife Investment Management LLC now owns 192,348 shares of the real estate investment trust's stock valued at $5,415,000 after acquiring an additional 3,202 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Weyerhaeuser by 10.0% during the 4th quarter. MML Investors Services LLC now owns 84,590 shares of the real estate investment trust's stock worth $2,381,000 after purchasing an additional 7,693 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in shares of Weyerhaeuser by 136.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 807 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Weyerhaeuser by 12.0% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 13,880 shares of the real estate investment trust's stock worth $391,000 after purchasing an additional 1,490 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 stock was purchased at an average cost of $25.29 per share, with a total value of $101,160.00. Following the transaction, the director owned 21,478 shares in the company, valued at approximately $543,178.62. This trade represents a 22.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company's stock.

Weyerhaeuser Stock Performance

Weyerhaeuser stock opened at $25.9950 on Thursday. 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 Company has a 12 month low of $24.10 and a 12 month high of $34.03. The company has a market cap of $18.76 billion, a price-to-earnings ratio of 68.41, a price-to-earnings-growth ratio of 80.63 and a beta of 1.08. The stock's 50-day moving average is $25.97 and its 200-day moving average is $27.12.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share (EPS) 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 the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The company's revenue was down 2.8% on a year-over-year basis. Equities analysts anticipate that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser announced that its Board of Directors has authorized a stock buyback program on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in 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 programs are usually a sign that the company's board of directors believes its shares are undervalued.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 29th. Weyerhaeuser's dividend payout ratio (DPR) is currently 221.05%.

Wall Street Analyst Weigh In

Several research firms recently commented on WY. Truist Financial dropped their target price on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating for the company in a research note on Monday, July 28th. DA Davidson dropped their price objective on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Wall Street Zen lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Citigroup lowered their target price 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. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Weyerhaeuser has an average rating of "Moderate Buy" and an average price target of $32.88.

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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