Premier Fund Managers Ltd Sells 100,007 Shares of Weyerhaeuser Company (NYSE:WY)

Premier Fund Managers Ltd cut its stake in Weyerhaeuser Company (NYSE:WY) by 50.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,442 shares of the real estate investment trust’s stock after selling 100,007 shares during the quarter. Premier Fund Managers Ltd’s holdings in Weyerhaeuser were worth $2,891,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Mackenzie Financial Corp raised its position in shares of Weyerhaeuser by 62.5% in the first quarter. Mackenzie Financial Corp now owns 135,875 shares of the real estate investment trust’s stock valued at $3,978,000 after purchasing an additional 52,245 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Weyerhaeuser by 21.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 177,171 shares of the real estate investment trust’s stock valued at $5,188,000 after purchasing an additional 30,961 shares during the period. HB Wealth Management LLC raised its position in shares of Weyerhaeuser by 35.0% in the first quarter. HB Wealth Management LLC now owns 20,307 shares of the real estate investment trust’s stock valued at $595,000 after purchasing an additional 5,266 shares during the period. Nikko Asset Management Americas Inc. raised its position in shares of Weyerhaeuser by 1.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 43,607 shares of the real estate investment trust’s stock valued at $1,277,000 after purchasing an additional 785 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Weyerhaeuser by 1.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 153,863 shares of the real estate investment trust’s stock valued at $4,505,000 after purchasing an additional 2,032 shares during the period. 82.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WY has been the topic of several research reports. The Goldman Sachs Group downgraded shares of Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, May 23rd. Truist Financial decreased their price target on shares of Weyerhaeuser from $30.00 to $29.00 and set a “hold” rating on the stock in a research note on Monday. CIBC decreased their price target on shares of Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 1st. Finally, Citigroup decreased their price target on shares of Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, June 3rd. One research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.88.

Weyerhaeuser Trading Down 2.3%

Shares of Weyerhaeuser stock opened at $25.87 on Tuesday. The company has a market capitalization of $18.76 billion, a price-to-earnings ratio of 68.08, a PEG ratio of 57.18 and a beta of 1.14. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. Weyerhaeuser Company has a 12-month low of $24.10 and a 12-month high of $34.03. The firm’s 50-day moving average price is $26.11 and its two-hundred day moving average price is $27.61.

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

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.21 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.25%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 221.05%.

Weyerhaeuser declared that its Board of Directors has initiated a share repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Weyerhaeuser 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.