Allspring Global Investments Holdings LLC Buys 2,004,073 Shares of Weyerhaeuser (NYSE:WY)

Allspring Global Investments Holdings LLC lifted its position in shares of Weyerhaeuser (NYSE:WY - Free Report) by 30.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,603,246 shares of the real estate investment trust's stock after purchasing an additional 2,004,073 shares during the period. Allspring Global Investments Holdings LLC owned about 1.18% of Weyerhaeuser worth $291,306,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WY. American National Bank raised its position in shares of Weyerhaeuser by 171.5% in the 1st quarter. American National Bank now owns 763 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 482 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Weyerhaeuser during the 1st quarter worth $33,000. Ridgewood Investments LLC bought a new stake in shares of Weyerhaeuser in the 2nd quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Weyerhaeuser by 4,884.2% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 928 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Weyerhaeuser during the second quarter worth about $27,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WY has been the topic of several research reports. DA Davidson cut their price objective on Weyerhaeuser from $37.00 to $36.00 and set a "buy" rating on the stock in a research note on Monday, July 29th. BMO Capital Markets restated a "market perform" rating and set a $38.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their target price on shares of Weyerhaeuser from $34.00 to $37.00 and gave the company an "outperform" rating in a research note on Monday, July 29th. Truist Financial raised their price target on shares of Weyerhaeuser from $31.00 to $34.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th. Finally, Citigroup decreased their target price on Weyerhaeuser from $37.00 to $36.00 and set a "buy" rating for the company in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $36.33.

Weyerhaeuser Stock Performance

Shares of NYSE WY traded up $0.26 during midday trading on Friday, hitting $33.06. 2,538,624 shares of the company's stock were exchanged, compared to its average volume of 3,886,498. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $36.27. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.19 and a quick ratio of 1.58. The firm has a market cap of $24.05 billion, a P/E ratio of 32.10 and a beta of 1.40. The stock's 50 day moving average price is $31.86 and its 200-day moving average price is $30.94.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). Weyerhaeuser had a return on equity of 6.19% and a net margin of 9.89%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the company posted $0.32 EPS. The company's revenue for the quarter was up 3.1% compared to the same quarter last year. Equities research analysts anticipate that Weyerhaeuser will post 0.48 EPS for the current year.

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date was Friday, August 30th. Weyerhaeuser's dividend payout ratio is currently 77.67%.

Insider Activity

In other news, Director James Calvin O'rourke bought 7,800 shares of the business's stock in a transaction on Friday, September 13th. The stock was purchased at an average cost of $32.01 per share, for a total transaction of $249,678.00. Following the completion of the transaction, the director now directly owns 17,672 shares of the company's stock, valued at approximately $565,680.72. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Weyerhaeuser news, Director James Calvin O'rourke acquired 7,800 shares of the stock in a transaction dated Friday, September 13th. The shares were bought at an average price of $32.01 per share, with a total value of $249,678.00. Following the purchase, the director now directly owns 17,672 shares of the company's stock, valued at approximately $565,680.72. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Albert Monaco bought 31,500 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the acquisition, the director now directly owns 70,726 shares in the company, valued at approximately $2,219,381.88. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.