Mystic Asset Management Inc. Acquires 740 Shares of Weyerhaeuser Company (NYSE:WY)

Mystic Asset Management Inc. increased its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 6.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,071 shares of the real estate investment trust’s stock after acquiring an additional 740 shares during the period. Mystic Asset Management Inc.’s holdings in Weyerhaeuser were worth $353,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cohen & Steers Inc. lifted its stake in shares of Weyerhaeuser by 57.5% in the fourth quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust’s stock worth $1,095,726,000 after buying an additional 14,213,243 shares in the last quarter. Norges Bank bought a new position in shares of Weyerhaeuser in the fourth quarter worth approximately $638,470,000. Geode Capital Management LLC lifted its stake in shares of Weyerhaeuser by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 20,171,701 shares of the real estate investment trust’s stock worth $566,527,000 after buying an additional 637,643 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Weyerhaeuser by 3.5% in the fourth quarter. Northern Trust Corp now owns 9,538,125 shares of the real estate investment trust’s stock worth $268,498,000 after buying an additional 322,313 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Weyerhaeuser by 2.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,065,565 shares of the real estate investment trust’s stock worth $264,171,000 after buying an additional 213,062 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 1.5%

Shares of WY stock opened at $25.30 on Friday. Weyerhaeuser Company has a 12 month low of $24.10 and a 12 month high of $34.03. The stock has a market cap of $18.35 billion, a P/E ratio of 50.60, a P/E/G ratio of 43.15 and a beta of 1.14. 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 50 day simple moving average of $26.19 and a two-hundred day simple moving average of $27.70.

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

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 3.32%. Weyerhaeuser’s dividend payout ratio is currently 168.00%.

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

Analysts Set New Price Targets

WY has been the topic of a number of research analyst reports. Citigroup lowered their price objective on shares of Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Tuesday, June 3rd. CIBC lowered their price objective on shares of Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating on the stock in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Friday. Truist Financial lowered their price objective on shares of Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group downgraded shares of Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, May 23rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.13.

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.