Whalen Wealth Management Inc. Buys New Stake in Weyerhaeuser Company (NYSE:WY)

Whalen Wealth Management Inc. purchased a new position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,633 shares of the real estate investment trust's stock, valued at approximately $428,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Truist Financial Corp lifted its position in Weyerhaeuser by 2.8% during the 4th quarter. Truist Financial Corp now owns 50,889 shares of the real estate investment trust's stock worth $1,433,000 after acquiring an additional 1,373 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Weyerhaeuser by 36.7% during the fourth quarter. Jones Financial Companies Lllp now owns 11,482 shares of the real estate investment trust's stock worth $323,000 after purchasing an additional 3,084 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Weyerhaeuser by 232.0% during the first quarter. Farther Finance Advisors LLC now owns 9,476 shares of the real estate investment trust's stock worth $276,000 after purchasing an additional 6,622 shares during the period. Principal Securities Inc. lifted its holdings in shares of Weyerhaeuser by 12.2% during the fourth quarter. Principal Securities Inc. now owns 7,151 shares of the real estate investment trust's stock worth $201,000 after purchasing an additional 779 shares during the period. Finally, Cetera Investment Advisers grew its position in Weyerhaeuser by 12.5% in the 4th quarter. Cetera Investment Advisers now owns 70,319 shares of the real estate investment trust's stock valued at $1,979,000 after buying an additional 7,810 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

Weyerhaeuser Price Performance

Weyerhaeuser stock traded up $0.26 during mid-day trading on Thursday, reaching $26.33. The company had a trading volume of 3,339,107 shares, compared to its average volume of 3,793,389. The stock's 50-day simple moving average is $26.08 and its 200-day simple moving average is $28.01. Weyerhaeuser Company has a 1 year low of $24.10 and a 1 year high of $34.03. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 1.26. The company has a market capitalization of $19.09 billion, a P/E ratio of 52.65, a P/E/G ratio of 33.82 and a beta of 1.16.

Weyerhaeuser (NYSE:WY - Get Free Report) last released 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 business had revenue of $1.76 billion for 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 company's revenue was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 EPS. On average, equities analysts predict that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Friday, May 30th. Weyerhaeuser's dividend payout ratio is currently 168.00%.

Weyerhaeuser declared that its board has authorized a stock buyback plan on Thursday, May 8th that allows the company to buyback $1.00 billion in 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 plans are generally a sign that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WY. Truist Financial cut their price objective on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. CIBC cut their price target 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. The Goldman Sachs Group lowered Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a report on Friday, May 23rd. Citigroup dropped their target price on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. assumed coverage on Weyerhaeuser in a research note on Tuesday, April 8th. They set an "overweight" rating and a $31.00 target price for the company. 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 stock. According to MarketBeat.com, Weyerhaeuser presently has an average rating of "Moderate Buy" and an average price target of $33.25.

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.