Weyerhaeuser (NYSE:WY) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lessened its stake in shares of Weyerhaeuser (NYSE:WY - Free Report) by 10.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,910,261 shares of the real estate investment trust's stock after selling 673,965 shares during the period. Bank of America Corp DE owned about 0.81% of Weyerhaeuser worth $166,374,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. South Plains Financial Inc. purchased a new position in Weyerhaeuser during the fourth quarter valued at approximately $25,000. Assetmark Inc. increased its holdings in Weyerhaeuser by 290.9% during the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 922 shares during the period. Asset Planning Inc purchased a new position in Weyerhaeuser during the fourth quarter valued at approximately $36,000. TD Waterhouse Canada Inc. increased its holdings in 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 valued at $39,000 after buying an additional 807 shares during the period. Finally, Lee Danner & Bass Inc. purchased a new position in Weyerhaeuser during the fourth quarter valued at approximately $44,000. Institutional investors own 82.99% of the company's stock.

Analyst Upgrades and Downgrades

WY has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Weyerhaeuser in a report on Tuesday, April 8th. They issued an "overweight" rating and a $31.00 price target on the stock. CIBC cut their price target on shares of Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating on the stock in a report on Tuesday, April 22nd. Cibc World Mkts raised shares of Weyerhaeuser from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. StockNews.com raised shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $36.00 price target on shares of Weyerhaeuser in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.75.

Weyerhaeuser Stock Performance

Shares of WY traded up $0.75 during trading hours on Monday, reaching $26.96. 3,661,238 shares of the company traded hands, compared to its average volume of 3,755,778. The stock has a market capitalization of $19.55 billion, a P/E ratio of 49.02, a P/E/G ratio of 4.74 and a beta of 1.15. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50. Weyerhaeuser has a 12-month low of $24.10 and a 12-month high of $34.03. The business has a fifty day moving average price of $27.32 and a 200-day moving average price of $29.15.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.80 billion. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. The business's quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.16 earnings per share. Equities analysts anticipate that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Friday, May 30th. Weyerhaeuser's dividend payout ratio (DPR) is presently 168.00%.

Weyerhaeuser declared that its board has initiated a share repurchase 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 typically a sign that the company's board of directors believes its stock is undervalued.

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.