Massachusetts Financial Services Co. MA boosted its stake in shares of Weyerhaeuser (NYSE:WY - Free Report) by 23.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,919,349 shares of the real estate investment trust's stock after buying an additional 740,508 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.54% of Weyerhaeuser worth $132,709,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Legal & General Group Plc raised its holdings in shares of Weyerhaeuser by 4.6% in the 2nd quarter. Legal & General Group Plc now owns 11,428,336 shares of the real estate investment trust's stock valued at $324,450,000 after buying an additional 503,059 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Weyerhaeuser by 30.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust's stock worth $291,306,000 after purchasing an additional 2,004,073 shares during the period. Principal Financial Group Inc. lifted its position in shares of Weyerhaeuser by 32.3% during the second quarter. Principal Financial Group Inc. now owns 3,296,393 shares of the real estate investment trust's stock worth $93,584,000 after purchasing an additional 804,650 shares in the last quarter. abrdn plc boosted its stake in shares of Weyerhaeuser by 4.1% in the third quarter. abrdn plc now owns 3,256,780 shares of the real estate investment trust's stock valued at $110,161,000 after purchasing an additional 128,055 shares during the period. Finally, Swedbank AB acquired a new position in shares of Weyerhaeuser in the first quarter valued at approximately $106,141,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director James Calvin O'rourke acquired 7,800 shares of Weyerhaeuser stock in a transaction on Friday, September 13th. The stock was bought at an average price of $32.01 per share, for a total transaction of $249,678.00. Following the completion of the purchase, the director now owns 17,672 shares in the company, valued at $565,680.72. This represents a 79.01 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Albert Monaco bought 31,500 shares of the stock in a transaction dated Monday, August 26th. The shares were acquired at an average price of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the transaction, the director now owns 70,726 shares of the company's stock, valued at approximately $2,219,381.88. The trade was a 80.30 % increase in their position. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by insiders.
Several equities analysts have commented on the stock. Citigroup decreased their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a "buy" rating for the company in a research report on Tuesday, July 30th. Truist Financial boosted their target price on Weyerhaeuser from $31.00 to $34.00 and gave the stock a "hold" rating in a research note on Tuesday, October 15th. StockNews.com lowered Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. DA Davidson decreased their price objective on Weyerhaeuser from $37.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, July 29th. Finally, Royal Bank of Canada upped their target price on shares of Weyerhaeuser from $34.00 to $37.00 and gave the stock an "outperform" rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $36.33.
View Our Latest Research Report on WY
Shares of NYSE WY opened at $31.24 on Friday. The stock's 50-day simple moving average is $32.28 and its 200-day simple moving average is $30.78. The firm has a market capitalization of $22.70 billion, a PE ratio of 42.22 and a beta of 1.40. Weyerhaeuser has a fifty-two week low of $26.73 and a fifty-two week high of $36.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.41 and a current ratio of 2.01.
Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The firm's revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. As a group, equities research analysts forecast that Weyerhaeuser will post 0.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.56%. Weyerhaeuser's dividend payout ratio (DPR) is presently 108.11%.
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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