Weyerhaeuser Company $WY Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings reduced its Weyerhaeuser stake by 7.4% in the first quarter, selling 864,290 shares and ending with 10.85 million shares worth about $262.6 million.
• Weyerhaeuser beat first-quarter earnings expectations, reporting EPS of $0.11 versus the $0.04 consensus estimate, while revenue of $1.73 billion also slightly topped forecasts.
• The company recently paid a quarterly dividend of $0.21 per share, equal to an annualized yield of 3.4%, and analysts currently rate the stock a Moderate Buy with an average target price of $29.00.

Allspring Global Investments Holdings LLC decreased its position in Weyerhaeuser Company (NYSE:WY - Free Report) by 7.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,852,795 shares of the real estate investment trust's stock after selling 864,290 shares during the period. Allspring Global Investments Holdings LLC owned about 1.51% of Weyerhaeuser worth $262,638,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in shares of Weyerhaeuser in the 4th quarter valued at about $39,000. Addison Advisors LLC grew its holdings in Weyerhaeuser by 83.4% in the fourth quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 757 shares during the period. Bayban acquired a new position in shares of Weyerhaeuser during the 4th quarter worth approximately $41,000. Costello Asset Management INC raised its stake in shares of Weyerhaeuser by 118.9% during the 4th quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust's stock worth $43,000 after buying an additional 976 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of Weyerhaeuser during the 4th quarter worth approximately $43,000. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

Shares of Weyerhaeuser stock opened at $24.44 on Friday. Weyerhaeuser Company has a one year low of $21.16 and a one year high of $27.75. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 1.28 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42. The business's 50 day moving average price is $23.98 and its 200 day moving average price is $24.62.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The firm's quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. On average, research analysts predict that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.4%. Weyerhaeuser's payout ratio is 155.56%.

Analysts Set New Price Targets

WY has been the topic of a number of research analyst reports. Weiss Ratings cut shares of Weyerhaeuser from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday, June 25th. JPMorgan Chase & Co. upped their price objective on shares of Weyerhaeuser from $30.00 to $31.00 and gave the stock an "overweight" rating in a research report on Monday, June 29th. Citigroup decreased their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, May 5th. DA Davidson reiterated a "buy" rating and issued a $31.00 target price on shares of Weyerhaeuser in a research report on Tuesday, June 30th. Finally, Truist Financial dropped their target price on shares of Weyerhaeuser from $28.00 to $27.00 and set a "hold" rating on the stock in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Weyerhaeuser presently has an average rating of "Moderate Buy" and an average target price of $29.00.

Weyerhaeuser Company Profile

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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