Franklin Resources Inc. Boosts Holdings in Weyerhaeuser (NYSE:WY)

Franklin Resources Inc. lifted its position in Weyerhaeuser (NYSE:WY - Free Report) by 10.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 729,570 shares of the real estate investment trust's stock after acquiring an additional 67,314 shares during the period. Franklin Resources Inc. owned 0.10% of Weyerhaeuser worth $23,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in Weyerhaeuser by 12.7% in the third quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust's stock valued at $1,210,694,000 after acquiring an additional 4,035,048 shares during the period. State Street Corp boosted its holdings in Weyerhaeuser by 2.5% during the third quarter. State Street Corp now owns 31,407,646 shares of the real estate investment trust's stock worth $1,063,463,000 after buying an additional 761,757 shares in the last quarter. Geode Capital Management LLC grew its position in Weyerhaeuser by 1.1% during the third quarter. Geode Capital Management LLC now owns 19,534,058 shares of the real estate investment trust's stock valued at $659,422,000 after buying an additional 217,510 shares during the period. Legal & General Group Plc increased its holdings in Weyerhaeuser by 4.6% in the second 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Weyerhaeuser by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,740,119 shares of the real estate investment trust's stock valued at $295,940,000 after acquiring an additional 454,095 shares during the period. Hedge funds and other institutional investors own 82.99% of the company's stock.

Weyerhaeuser Price Performance

WY traded up $0.29 during trading on Friday, reaching $27.50. The company's stock had a trading volume of 11,435,486 shares, compared to its average volume of 3,626,005. The company has a market cap of $19.98 billion, a price-to-earnings ratio of 37.16 and a beta of 1.40. The firm has a fifty day simple moving average of $31.37 and a two-hundred day simple moving average of $30.82. Weyerhaeuser has a 1 year low of $26.73 and a 1 year high of $36.27. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. Weyerhaeuser's revenue was down 13.3% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share. As a group, analysts anticipate that Weyerhaeuser will post 0.46 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Friday, November 29th. Weyerhaeuser's payout ratio is 108.11%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WY. BMO Capital Markets upgraded Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $38.00 price target on the stock in a research report on Friday, December 6th. Truist Financial increased their target price on Weyerhaeuser from $31.00 to $34.00 and gave the company a "hold" rating in a research report on Tuesday, October 15th. Finally, StockNews.com raised shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a research note on Monday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Weyerhaeuser presently has a consensus rating of "Moderate Buy" and an average target price of $36.33.

Weyerhaeuser Company 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.