Wheaton Precious Metals Corp. $WPM Shares Sold by Dudley & Shanley Inc.

Key Points

• Dudley & Shanley Inc. reduced its ownership in Wheaton Precious Metals Corp. by 24.5% during the second quarter, now holding approximately 763,475 shares worth $68.56 million.
• Wheaton Precious Metals reported a record earnings per share of $0.63, exceeding estimates, with a revenue of $503.22 million, marking a significant 68.2% increase from the previous year.
• The company recently declared a quarterly dividend of $0.165 per share with a current annual yield of 0.6% and a payout ratio of 38.15%.

Dudley & Shanley Inc. cut its position in shares of Wheaton Precious Metals Corp. (NYSE:WPM - Free Report) by 24.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 763,475 shares of the company's stock after selling 247,535 shares during the quarter. Wheaton Precious Metals accounts for 10.8% of Dudley & Shanley Inc.'s investment portfolio, making the stock its biggest holding. Dudley & Shanley Inc. owned approximately 0.17% of Wheaton Precious Metals worth $68,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bulwark Capital Corp acquired a new position in Wheaton Precious Metals during the second quarter worth $27,000. NBT Bank N A NY lifted its position in shares of Wheaton Precious Metals by 129.3% in the first quarter. NBT Bank N A NY now owns 415 shares of the company's stock valued at $32,000 after acquiring an additional 234 shares in the last quarter. Wealth Preservation Advisors LLC purchased a new stake in shares of Wheaton Precious Metals in the first quarter valued at $38,000. Banque Cantonale Vaudoise purchased a new stake in shares of Wheaton Precious Metals in the first quarter valued at $49,000. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Wheaton Precious Metals in the first quarter valued at $52,000. 70.34% of the stock is owned by institutional investors and hedge funds.

Wheaton Precious Metals Price Performance

Shares of NYSE WPM opened at $107.76 on Tuesday. Wheaton Precious Metals Corp. has a 1-year low of $55.47 and a 1-year high of $108.67. The business has a 50-day moving average of $96.20 and a 200-day moving average of $86.95. The company has a market capitalization of $48.92 billion, a price-to-earnings ratio of 62.29, a PEG ratio of 2.93 and a beta of 0.42.

Wheaton Precious Metals (NYSE:WPM - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $503.22 million during the quarter, compared to the consensus estimate of $424.23 million. Wheaton Precious Metals had a return on equity of 11.96% and a net margin of 47.46%.The company's revenue was up 68.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.33 earnings per share. Research analysts expect that Wheaton Precious Metals Corp. will post 1.46 EPS for the current fiscal year.

Wheaton Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.165 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Wheaton Precious Metals's dividend payout ratio is currently 38.15%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WPM. Berenberg Bank upped their price objective on Wheaton Precious Metals from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday. Raymond James Financial upped their price objective on Wheaton Precious Metals from $112.00 to $114.00 and gave the company an "outperform" rating in a research report on Friday. Scotiabank upped their price objective on Wheaton Precious Metals from $108.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded Wheaton Precious Metals from a "hold" rating to a "buy" rating in a research report on Monday, September 8th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Wheaton Precious Metals in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.44.

Wheaton Precious Metals Profile

Wheaton Precious Metals Corp. primarily sells precious metals in North America, Europe, and South America. It produces and sells gold, silver, palladium, and cobalt deposits. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in May 2017. Wheaton Precious Metals Corp.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.