Vestcor Inc Raises Holdings in Weyerhaeuser Company (NYSE:WY)

Vestcor Inc grew its stake in shares of Weyerhaeuser Company (NYSE:WY) by 220.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 47,479 shares of the real estate investment trust’s stock after purchasing an additional 32,651 shares during the quarter. Vestcor Inc’s holdings in Weyerhaeuser were worth $1,390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of WY. Waverly Advisors LLC raised its holdings in shares of Weyerhaeuser by 3.3% during the fourth quarter. Waverly Advisors LLC now owns 10,830 shares of the real estate investment trust’s stock worth $305,000 after purchasing an additional 343 shares during the last quarter. Texas Yale Capital Corp. raised its stake in shares of Weyerhaeuser by 4.0% during the 4th quarter. Texas Yale Capital Corp. now owns 9,924 shares of the real estate investment trust’s stock valued at $279,000 after buying an additional 385 shares during the last quarter. S.A. Mason LLC lifted its holdings in shares of Weyerhaeuser by 5.6% in the 1st quarter. S.A. Mason LLC now owns 7,642 shares of the real estate investment trust’s stock valued at $224,000 after buying an additional 408 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Weyerhaeuser by 13.8% in the fourth quarter. Quadrant Capital Group LLC now owns 3,425 shares of the real estate investment trust’s stock worth $96,000 after buying an additional 416 shares during the last quarter. Finally, Unison Advisors LLC grew its holdings in Weyerhaeuser by 0.6% during the fourth quarter. Unison Advisors LLC now owns 68,854 shares of the real estate investment trust’s stock worth $1,938,000 after acquiring an additional 419 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Price Performance

Shares of WY opened at $25.08 on Friday. The company has a market cap of $18.10 billion, a P/E ratio of 66.00, a PEG ratio of 65.52 and a beta of 1.08. Weyerhaeuser Company has a fifty-two week low of $24.10 and a fifty-two week 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 firm’s 50 day moving average price is $26.10 and its 200 day moving average price is $27.53.

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

Weyerhaeuser declared that its board has authorized a stock buyback program on Thursday, May 8th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the real estate investment trust to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Weyerhaeuser Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.21 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 221.05%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WY. Truist Financial decreased their target price on shares of Weyerhaeuser from $30.00 to $29.00 and set a “hold” rating for the company in a research note on Monday, July 28th. DA Davidson decreased their price objective on shares of Weyerhaeuser from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 22nd. Citigroup lowered their target price 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. JPMorgan Chase & Co. cut their price target on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Tuesday, July 1st. Finally, Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. One equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.