Always pay close attention to insider buying.
If an insider is putting their money where their mouth is, put it on radar.
Look at Weyerhaeuser (SYM:WY), for example.
Currently trading at $30.38, Director Al Monaco just bought 31,500 shares for just over $998,400 on August 26 at an average price of $31.38.
Even better, according to BMO Capital Markets, “the company’s balance sheet is strong, and that the risk/reward ratio is ‘getting more attractive,” as quoted by Barron’s. The firm also has a market perform rating on the WY stock with a target of $38.
The company also declared a 20-cent dividend, which is payable on September 13 to shareholders of record as of August 30.
If you missed the cutoff, more dividends are on the way.
As noted by WY, “Under Weyerhaeuser’s cash return framework, the company expects to supplement its quarterly base cash dividend, as appropriate, with an additional return of variable cash to achieve a targeted total return to shareholders of 75% to 80% of annual Adjusted Funds Available for Distribution (Adjusted FAD),” the company said.
Last trading at $30.38, we’d like to see the WY stock retest $34.50 near term.
