Weyerhaeuser Company $WY Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its holdings in Weyerhaeuser Company by 35.6%, now owning 25,609 shares valued at $746,000 after selling 14,159 shares in the first quarter.
• Weyerhaeuser reported a quarterly EPS of $0.12, beating estimates, despite a 2.8% decline in revenue year-over-year, totaling $1.88 billion for the quarter.
• The company announced a stock repurchase program of up to $1 billion, indicating management's belief that its stock may be undervalued.

Ethic Inc. trimmed its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 35.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,609 shares of the real estate investment trust's stock after selling 14,159 shares during the period. Ethic Inc.'s holdings in Weyerhaeuser were worth $746,000 at the end of the most recent reporting period.

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

Weyerhaeuser Stock Performance

Shares of NYSE:WY opened at $25.9950 on Thursday. The company has a market cap of $18.76 billion, a P/E ratio of 68.41, a PEG ratio of 80.63 and a beta of 1.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04. Weyerhaeuser Company has a one year low of $24.10 and a one year high of $34.03. The business's 50-day simple moving average is $25.97 and its 200 day simple moving average is $27.12.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.94 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The company's revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $0.21 EPS. On average, sell-side analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser announced that its board has initiated a stock repurchase program 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 repurchase up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Weyerhaeuser Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 3.2%. Weyerhaeuser's payout ratio is currently 221.05%.

Insider Transactions at Weyerhaeuser

In other Weyerhaeuser news, Director Sara Grootwassink Lewis acquired 4,000 shares of the company's stock in a transaction on Monday, August 11th. The shares were bought at an average cost of $25.29 per share, for a total transaction of $101,160.00. Following the acquisition, the director directly owned 21,478 shares of the company's stock, valued at $543,178.62. This trade represents a 22.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on WY. Citigroup cut their price objective on 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. cut their price objective on Weyerhaeuser from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. Wall Street Zen downgraded Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. The Goldman Sachs Group downgraded Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. Finally, Truist Financial cut their price objective on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Weyerhaeuser has a consensus rating of "Moderate Buy" and a consensus target price 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.

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