The Manufacturers Life Insurance Company Sells 211,547 Shares of Weyerhaeuser Company $WY

The Manufacturers Life Insurance Company decreased its stake in Weyerhaeuser Company (NYSE:WY) by 18.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 953,538 shares of the real estate investment trust’s stock after selling 211,547 shares during the period. The Manufacturers Life Insurance Company owned about 0.13% of Weyerhaeuser worth $27,920,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. AXA S.A. grew its holdings in shares of Weyerhaeuser by 123.0% during the 4th quarter. AXA S.A. now owns 18,197 shares of the real estate investment trust’s stock valued at $512,000 after purchasing an additional 10,036 shares during the last quarter. Aptus Capital Advisors LLC bought a new position in shares of Weyerhaeuser during the 4th quarter valued at $219,000. Ameriprise Financial Inc. grew its holdings in shares of Weyerhaeuser by 9.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,398,286 shares of the real estate investment trust’s stock valued at $39,362,000 after purchasing an additional 118,938 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Weyerhaeuser by 5.2% during the 4th quarter. BNP Paribas Financial Markets now owns 1,543,638 shares of the real estate investment trust’s stock valued at $43,453,000 after purchasing an additional 75,724 shares during the last quarter. Finally, Banque Transatlantique SA bought a new position in shares of Weyerhaeuser during the 4th quarter valued at $152,000. Institutional investors own 82.99% of the company’s stock.

Insider Activity at Weyerhaeuser

In related news, Director Sara Grootwassink Lewis bought 4,000 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $25.29 per share, with a total value of $101,160.00. Following the transaction, the director owned 21,478 shares in the company, valued at approximately $543,178.62. This trade represents a 22.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.

Weyerhaeuser Price Performance

Shares of Weyerhaeuser stock opened at $25.88 on Tuesday. The firm has a market cap of $18.67 billion, a PE ratio of 68.11, a price-to-earnings-growth ratio of 79.23 and a beta of 1.07. Weyerhaeuser Company has a 12-month low of $24.10 and a 12-month high of $34.03. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. The company’s fifty day simple moving average is $25.92 and its two-hundred day simple moving average is $26.86.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results 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 business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter last year, the firm earned $0.21 EPS. The company’s revenue was down 2.8% on a year-over-year basis. As a group, equities analysts expect that Weyerhaeuser Company will post 0.78 EPS for the current year.

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

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 29th. Weyerhaeuser’s dividend payout ratio (DPR) is currently 221.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen lowered shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Sunday, August 3rd. JPMorgan Chase & Co. reduced their target price on shares of Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday, July 1st. The Goldman Sachs Group lowered shares of Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a report on Friday, May 23rd. Truist Financial cut their price target on shares of Weyerhaeuser from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Monday, July 28th. Finally, Citigroup cut their price target on shares of Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Weyerhaeuser has a consensus rating of “Moderate Buy” and an average target price of $32.88.

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.