Allspring Global Investments Holdings LLC Raises Position in Weyerhaeuser Company (NYSE:WY)

Allspring Global Investments Holdings LLC raised its stake in Weyerhaeuser Company (NYSE:WY - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,065,565 shares of the real estate investment trust's stock after acquiring an additional 213,062 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.25% of Weyerhaeuser worth $264,171,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. South Plains Financial Inc. acquired a new position in shares of Weyerhaeuser in the fourth quarter worth $25,000. Fourth Dimension Wealth LLC acquired a new position in shares of Weyerhaeuser in the fourth quarter worth $27,000. Assetmark Inc. raised its holdings in shares of Weyerhaeuser by 290.9% in the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 922 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Weyerhaeuser by 136.1% in the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 807 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Weyerhaeuser in the fourth quarter worth $44,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Trading Down 1.9%

WY stock traded down $0.49 during trading on Friday, reaching $25.83. 10,584,057 shares of the stock traded hands, compared to its average volume of 3,813,734. The business's 50 day moving average price is $26.08 and its 200-day moving average price is $27.95. Weyerhaeuser Company has a 52-week low of $24.10 and a 52-week high of $34.03. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.04 and a quick ratio of 1.26. The firm has a market capitalization of $18.74 billion, a PE ratio of 51.66, a P/E/G ratio of 33.53 and a beta of 1.16.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. Weyerhaeuser had a return on equity of 3.59% and a net margin of 5.15%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. The company's revenue was down 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser announced that its Board of Directors has authorized a stock buyback program on Thursday, May 8th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, May 30th. Weyerhaeuser's payout ratio is 168.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Truist Financial lowered their price objective on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group downgraded Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research report on Friday, May 23rd. Citigroup lowered their price objective on Weyerhaeuser from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Tuesday, June 3rd. CIBC lowered their price objective on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. assumed coverage on Weyerhaeuser in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $31.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.25.

Weyerhaeuser 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.