Summit Financial LLC Increases Stake in Weyerhaeuser Company $WY

Summit Financial LLC increased its position in Weyerhaeuser Company (NYSE:WY) by 11.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 29,523 shares of the real estate investment trust’s stock after acquiring an additional 3,115 shares during the quarter. Summit Financial LLC’s holdings in Weyerhaeuser were worth $864,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. South Plains Financial Inc. purchased a new stake in Weyerhaeuser in the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC purchased a new stake in Weyerhaeuser in the 4th quarter worth about $27,000. GKV Capital Management Co. Inc. purchased a new stake in Weyerhaeuser in the 1st quarter worth about $29,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Weyerhaeuser in the 1st quarter worth about $31,000. Finally, Costello Asset Management INC purchased a new stake in Weyerhaeuser in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Analysts Set New Price Targets

WY has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, July 1st. DA Davidson reduced their target price on Weyerhaeuser from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 22nd. Citigroup reduced their target price on Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating for the company in a report on Tuesday, June 3rd. Wall Street Zen lowered Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Sunday, August 3rd. Finally, Truist Financial reduced their target price on Weyerhaeuser from $30.00 to $29.00 and set a “hold” rating for the company in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $32.88.

Insider Activity

In other Weyerhaeuser news, Director Sara Grootwassink Lewis bought 4,000 shares of Weyerhaeuser stock in a transaction dated Monday, August 11th. The shares were purchased at an average cost of $25.29 per share, with a total value of $101,160.00. Following the completion of the purchase, the director owned 21,478 shares of the company’s stock, valued at approximately $543,178.62. This represents a 22.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

Weyerhaeuser Stock Performance

Shares of WY opened at $26.78 on Friday. The company has a market cap of $19.32 billion, a PE ratio of 70.48, a price-to-earnings-growth ratio of 82.17 and a beta of 1.08. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $25.94 and a 200-day moving average price of $27.04. Weyerhaeuser Company has a 12-month low of $24.10 and a 12-month high of $34.03.

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

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.1%. Weyerhaeuser’s payout ratio is 221.05%.

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

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.