Weyerhaeuser Company (NYSE:WY) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its position in shares of Weyerhaeuser Company (NYSE:WY) by 71.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,974 shares of the real estate investment trust’s stock after selling 71,164 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Weyerhaeuser were worth $848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Truist Financial Corp raised its stake in shares of 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 buying an additional 1,373 shares during the last quarter. Jones Financial Companies Lllp increased its position in Weyerhaeuser by 36.7% during the 4th 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 in the last quarter. Principal Securities Inc. increased its position in Weyerhaeuser by 12.2% during the 4th 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 in the last quarter. Cetera Investment Advisers increased its position in Weyerhaeuser by 12.5% during the 4th quarter. Cetera Investment Advisers now owns 70,319 shares of the real estate investment trust’s stock worth $1,979,000 after purchasing an additional 7,810 shares in the last quarter. Finally, Millennium Management LLC increased its position in Weyerhaeuser by 2.5% during the 4th quarter. Millennium Management LLC now owns 102,544 shares of the real estate investment trust’s stock worth $2,887,000 after purchasing an additional 2,532 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WY shares. Truist Financial dropped their price objective on Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating for the company in a research report on Tuesday, April 22nd. CIBC decreased their target price on Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. started coverage on Weyerhaeuser in a research report on Tuesday, April 8th. They set an “overweight” rating and a $31.00 price target on the stock. Citigroup reduced their price target 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, The Goldman Sachs Group lowered Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Weyerhaeuser presently has a consensus rating of “Moderate Buy” and an average target price of $33.25.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $25.96 on Thursday. Weyerhaeuser Company has a twelve month low of $24.10 and a twelve month high of $34.03. The company has a current ratio of 2.04, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $18.82 billion, a price-to-earnings ratio of 51.91, a price-to-earnings-growth ratio of 33.56 and a beta of 1.16. The business has a 50 day simple moving average of $26.02 and a 200-day simple moving average of $28.22.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.16 EPS. As a group, equities research analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser declared that its board has initiated a stock buyback program on Thursday, May 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the real estate investment trust to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.21 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.84 annualized dividend and a dividend yield of 3.24%. Weyerhaeuser’s payout ratio is 168.00%.

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.