Weyerhaeuser Company $WY Stake Raised by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Weyerhaeuser Company by 12.3%, owning over 10 million shares valued at approximately $267 million by the end of the last quarter.
• Weyerhaeuser reported an EPS of $0.12 for the last quarter, surpassing estimates, though its revenue of $1.88 billion fell short of analyst expectations of $1.94 billion.
• The company declared a quarterly dividend of $0.21, translating to an annual yield of 3.5%, despite a high payout ratio of 221.05%.

Allspring Global Investments Holdings LLC boosted its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 12.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,177,653 shares of the real estate investment trust's stock after acquiring an additional 1,112,088 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.40% of Weyerhaeuser worth $267,062,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in WY. S.A. Mason LLC increased its position in Weyerhaeuser by 5.6% in the 1st quarter. S.A. Mason LLC now owns 7,642 shares of the real estate investment trust's stock worth $224,000 after buying an additional 408 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Weyerhaeuser by 1.5% during the second quarter. Assenagon Asset Management S.A. now owns 29,419 shares of the real estate investment trust's stock valued at $756,000 after purchasing an additional 445 shares during the period. Unison Advisors LLC increased its position in shares of Weyerhaeuser by 0.7% during the first quarter. Unison Advisors LLC now owns 69,309 shares of the real estate investment trust's stock valued at $2,029,000 after purchasing an additional 455 shares during the period. SPC Financial Inc. increased its position in shares of Weyerhaeuser by 3.5% during the first quarter. SPC Financial Inc. now owns 14,595 shares of the real estate investment trust's stock valued at $427,000 after purchasing an additional 500 shares during the period. Finally, Horizon Investments LLC increased its position in shares of Weyerhaeuser by 5.2% during the first quarter. Horizon Investments LLC now owns 10,468 shares of the real estate investment trust's stock valued at $307,000 after purchasing an additional 516 shares during the period. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Price Performance

Shares of WY stock opened at $23.95 on Monday. The stock's fifty day simple moving average is $25.30 and its 200 day simple moving average is $25.84. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.04 and a quick ratio of 0.68. The firm has a market cap of $17.28 billion, a price-to-earnings ratio of 63.03, a P/E/G ratio of 210.53 and a beta of 1.05. Weyerhaeuser Company has a one year low of $23.92 and a one year high of $33.56.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.94 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.Weyerhaeuser's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. Weyerhaeuser's payout ratio is currently 221.05%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Weyerhaeuser from $32.00 to $31.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 17th. Truist Financial lowered their price objective on Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a research report on Monday, July 28th. Wall Street Zen cut Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Sunday, August 3rd. Weiss Ratings restated a "hold (c-)" rating on shares of Weyerhaeuser in a research report on Wednesday, October 8th. Finally, DA Davidson restated a "buy" rating and set a $35.00 price objective on shares of Weyerhaeuser in a research report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.88.

Insider Buying and Selling

In other Weyerhaeuser news, Director Sara Grootwassink Lewis acquired 4,000 shares of Weyerhaeuser stock in a transaction on Monday, August 11th. The shares were bought at an average price of $25.29 per share, with a total value of $101,160.00. Following the completion of the purchase, the director owned 21,478 shares in the company, valued at $543,178.62. This trade represents a 22.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company's stock.

About Weyerhaeuser

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.

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