Amalgamated Bank Acquires 2,059 Shares of Weyerhaeuser Company (NYSE:WY)

Amalgamated Bank boosted its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 1.5% in the first quarter, HoldingsChannel reports. The firm owned 142,122 shares of the real estate investment trust’s stock after acquiring an additional 2,059 shares during the period. Amalgamated Bank’s holdings in Weyerhaeuser were worth $4,161,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Cohen & Steers Inc. grew its stake in shares of Weyerhaeuser by 57.5% during the fourth quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust’s stock valued at $1,095,726,000 after purchasing an additional 14,213,243 shares during the last quarter. Norges Bank bought a new position in Weyerhaeuser in the 4th quarter valued at $638,470,000. Geode Capital Management LLC increased its stake in shares of Weyerhaeuser by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 20,171,701 shares of the real estate investment trust’s stock valued at $566,527,000 after buying an additional 637,643 shares during the period. First Eagle Investment Management LLC raised its position in shares of Weyerhaeuser by 1.1% during the fourth quarter. First Eagle Investment Management LLC now owns 14,362,306 shares of the real estate investment trust’s stock worth $404,299,000 after acquiring an additional 158,800 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Weyerhaeuser by 3.5% during 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 acquiring an additional 322,313 shares during the last quarter. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Trading Down 1.1%

WY opened at $26.41 on Friday. The stock has a market capitalization of $19.15 billion, a P/E ratio of 52.81, a P/E/G ratio of 36.60 and a beta of 1.14. Weyerhaeuser Company has a 12 month low of $24.10 and a 12 month high of $34.03. The firm’s fifty day simple moving average is $26.16 and its 200 day simple moving average is $27.86. The company has a current ratio of 2.04, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Thursday, April 24th. The real estate investment trust reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Weyerhaeuser had a net margin of 5.15% and a return on equity of 3.59%. The firm’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.16 EPS. As a group, research analysts anticipate that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 8th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.21 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.84 annualized dividend and a yield of 3.18%. Weyerhaeuser’s payout ratio is currently 168.00%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. CIBC decreased their price target on Weyerhaeuser from $35.00 to $32.00 and set an “outperformer” rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered shares of Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. lowered their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup cut their price objective 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. Finally, Truist Financial reduced their price objective on shares of Weyerhaeuser from $33.00 to $30.00 and set a “hold” rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.13.

About Weyerhaeuser

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.