Allspring Global Investments Holdings LLC Acquires 684,888 Shares of Weyerhaeuser Company $WY

Key Points

• Allspring Global Investments increased its Weyerhaeuser stake by 6.2%, adding 684,888 shares in the third quarter to hold 11.76 million shares, worth about $218.6 million.
• Weyerhaeuser reported quarterly EPS of $0.08, beating the $0.04 consensus, while revenue of $1.86 billion fell short of estimates; revenue was up 8.4% year over year.
• Analysts’ overall rating is Moderate Buy, with a consensus price target of $26.10. The company’s quarterly dividend of $0.21 equates to an annualized yield of about 4.0%.

Allspring Global Investments Holdings LLC raised its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 6.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,760,600 shares of the real estate investment trust's stock after acquiring an additional 684,888 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.63% of Weyerhaeuser worth $218,630,000 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 WY. Assenagon Asset Management S.A. lifted its stake in Weyerhaeuser by 524.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 176,165 shares of the real estate investment trust's stock worth $4,217,000 after purchasing an additional 147,971 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Weyerhaeuser by 23.0% during the 2nd quarter. Hsbc Holdings PLC now owns 1,636,104 shares of the real estate investment trust's stock valued at $39,100,000 after purchasing an additional 305,983 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of Weyerhaeuser by 10.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 51,179,282 shares of the real estate investment trust's stock valued at $1,225,232,000 after purchasing an additional 4,885,818 shares in the last quarter. Markel Group Inc. grew its position in shares of Weyerhaeuser by 585.7% during the 2nd quarter. Markel Group Inc. now owns 120,000 shares of the real estate investment trust's stock valued at $2,873,000 after purchasing an additional 102,500 shares in the last quarter. Finally, SFE Investment Counsel increased its holdings in shares of Weyerhaeuser by 32.2% in the first quarter. SFE Investment Counsel now owns 209,041 shares of the real estate investment trust's stock worth $5,107,000 after purchasing an additional 50,880 shares during the period. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Price Performance

Shares of Weyerhaeuser stock opened at $20.96 on Monday. The firm has a market capitalization of $15.10 billion, a PE ratio of 33.81, a price-to-earnings-growth ratio of 4.29 and a beta of 0.92. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57. Weyerhaeuser Company has a 12 month low of $18.25 and a 12 month high of $27.75. The business's 50-day moving average price is $20.57 and its 200-day moving average price is $23.56.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its earnings results on Thursday, October 29th. The real estate investment trust reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.04. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.92 billion. Weyerhaeuser had a return on equity of 1.72% and a net margin of 6.47%. Weyerhaeuser's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. Sell-side analysts forecast that Weyerhaeuser Company will post 0.27 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.0%. Weyerhaeuser's dividend payout ratio is 135.48%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Truist Financial lowered their price objective on Weyerhaeuser from $28.00 to $24.00 and set a "hold" rating on the stock in a research report on Monday, October 12th. Royal Bank Of Canada reduced their target price on Weyerhaeuser from $30.00 to $25.00 and set an "outperform" rating for the company in a research report on Friday, October 16th. Weiss Ratings lowered Weyerhaeuser from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, November 2nd. Citigroup raised their price target on Weyerhaeuser from $21.00 to $23.00 and gave the company a "buy" rating in a report on Monday, November 2nd. Finally, JPMorgan Chase & Co. lowered their price target on Weyerhaeuser from $31.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.10.

About Weyerhaeuser

Weyerhaeuser is a timber, land and wood-products company founded in 1900 and headquartered in Seattle. It owns and manages timberlands in the United States and holds long-term forest-management licenses in Canada.

The company grows and harvests timber and manufactures wood products, including lumber, engineered wood products, oriented strand board and plywood. These materials are used in residential construction, remodeling and other building applications.

Weyerhaeuser also manages its timberlands for real estate, energy and other natural-resource opportunities.

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