Weyerhaeuser Company $WY Stock Holdings Boosted by M&G PLC

Key Points

• M&G PLC increased its Weyerhaeuser stake by 18.1%, adding 490,832 shares to hold about 3.20 million shares valued at $60.8 million. Institutional investors and hedge funds collectively owned 82.99% of the stock.
• Weyerhaeuser reported quarterly EPS of $0.08, beating the $0.04 consensus estimate, while revenue of $1.86 billion missed expectations of $1.92 billion; revenue rose 8.4% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $26.10. The company’s annualized dividend was $0.84 per share, representing a 4.0% yield.

M&G PLC boosted its stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 18.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,202,041 shares of the real estate investment trust's stock after buying an additional 490,832 shares during the period. M&G PLC owned about 0.44% of Weyerhaeuser worth $60,839,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WY. First Eagle Investment Management LLC boosted its stake 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 buying an additional 4,885,818 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Weyerhaeuser by 14.3% during the 2nd quarter. Wellington Management Group LLP now owns 43,574,118 shares of the real estate investment trust's stock worth $1,043,164,000 after buying an additional 5,437,685 shares during the period. State Street Corp grew its position in shares of Weyerhaeuser by 3.3% in the second quarter. State Street Corp now owns 34,298,957 shares of the real estate investment trust's stock valued at $821,117,000 after purchasing an additional 1,106,553 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Weyerhaeuser in the 2nd quarter valued at approximately $468,969,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Weyerhaeuser by 6.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 11,760,600 shares of the real estate investment trust's stock worth $218,630,000 after acquiring an additional 684,888 shares during the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Stock Up 0.7%

Shares of WY stock opened at $21.12 on Tuesday. Weyerhaeuser Company has a 1 year low of $18.25 and a 1 year high of $27.75. The firm has a market capitalization of $15.21 billion, a P/E ratio of 34.06, a PEG ratio of 4.45 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. The firm's fifty day moving average price is $20.52 and its two-hundred day moving average price is $23.53.

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, beating the consensus estimate of $0.04 by $0.04. The business had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.92 billion. Weyerhaeuser had a net margin of 6.47% and a return on equity of 1.72%. The firm's revenue was up 8.4% on a year-over-year basis. During the same period last year, the business earned $0.12 earnings per share. On average, equities analysts predict that Weyerhaeuser Company will post 0.27 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts recently issued reports on WY shares. DA Davidson lowered their price target on Weyerhaeuser from $31.00 to $27.00 and set a "buy" rating on the stock in a research note on Tuesday, October 27th. Citigroup boosted their price target on shares of Weyerhaeuser from $21.00 to $23.00 and gave the company a "buy" rating in a research report on Monday, November 2nd. Royal Bank Of Canada lowered their target price on Weyerhaeuser from $30.00 to $25.00 and set an "outperform" rating for the company in a research note on Friday, October 16th. JPMorgan Chase & Co. dropped their price objective on shares of Weyerhaeuser from $31.00 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, September 3rd. Finally, Truist Financial reduced their target price on shares of Weyerhaeuser from $28.00 to $24.00 and set a "hold" rating on the stock in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Weyerhaeuser has a consensus rating of "Moderate Buy" and an average target price of $26.10.

Weyerhaeuser Company Profile

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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