Legal & General Group Plc raised its holdings in shares of Weyerhaeuser Company (NYSE:WY – Free Report) by 11.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,687,836 shares of the real estate investment trust’s stock after acquiring an additional 1,305,177 shares during the quarter. Legal & General Group Plc’s holdings in Weyerhaeuser were worth $300,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP raised its holdings in Weyerhaeuser by 6.3% during the 3rd quarter. Wellington Management Group LLP now owns 39,646,897 shares of the real estate investment trust’s stock valued at $982,847,000 after acquiring an additional 2,343,724 shares during the period. First Eagle Investment Management LLC raised its holdings in Weyerhaeuser by 166.1% during the 4th quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock valued at $891,242,000 after acquiring an additional 23,485,504 shares during the period. State Street Corp grew its position in shares of Weyerhaeuser by 1.9% during the 3rd quarter. State Street Corp now owns 32,468,597 shares of the real estate investment trust’s stock valued at $804,897,000 after purchasing an additional 602,901 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Weyerhaeuser by 10.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 14,950,516 shares of the real estate investment trust’s stock valued at $370,623,000 after purchasing an additional 1,400,050 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Weyerhaeuser by 12.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,717,085 shares of the real estate investment trust’s stock valued at $278,867,000 after purchasing an additional 1,254,057 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on WY shares. DA Davidson restated a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a research report on Monday, May 4th. JPMorgan Chase & Co. reduced 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 Thursday, May 14th. Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a research report on Thursday, April 23rd. Truist Financial reduced their price target on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, April 15th. Finally, Weiss Ratings upgraded shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.88.
Weyerhaeuser Stock Up 0.8%
Shares of NYSE:WY opened at $23.84 on Wednesday. Weyerhaeuser Company has a 52-week low of $21.16 and a 52-week high of $27.86. The firm has a fifty day moving average of $24.02 and a 200 day moving average of $24.20. The firm has a market capitalization of $17.19 billion, a PE ratio of 44.15, a price-to-earnings-growth ratio of 1.34 and a beta of 0.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42.
Weyerhaeuser (NYSE:WY – Get Free Report) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business earned $0.11 earnings per share. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. As a group, research analysts anticipate that Weyerhaeuser Company will post 0.32 EPS for the current fiscal year.
Weyerhaeuser Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a $0.21 dividend. The ex-dividend date is Friday, June 5th. This represents a $0.84 annualized dividend and a yield of 3.5%. Weyerhaeuser’s payout ratio is 155.56%.
About Weyerhaeuser
Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.
Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.
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