Public Sector Pension Investment Board Increases Stake in Weyerhaeuser (NYSE:WY)

Public Sector Pension Investment Board raised its stake in Weyerhaeuser (NYSE:WY - Free Report) by 25.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 126,566 shares of the real estate investment trust's stock after buying an additional 25,308 shares during the quarter. Public Sector Pension Investment Board's holdings in Weyerhaeuser were worth $4,286,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in WY. Legal & General Group Plc raised its stake in shares of 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 purchasing an additional 503,059 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Weyerhaeuser by 5.5% in 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 purchasing an additional 454,095 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Weyerhaeuser by 23.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,919,349 shares of the real estate investment trust's stock valued at $132,709,000 after purchasing an additional 740,508 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Weyerhaeuser by 32.3% in the 2nd 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 during the last quarter. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

Shares of WY stock traded down $0.25 during midday trading on Tuesday, hitting $31.72. 2,492,795 shares of the company were exchanged, compared to its average volume of 3,595,259. Weyerhaeuser has a 52 week low of $26.73 and a 52 week high of $36.27. The firm has a market capitalization of $23.05 billion, a P/E ratio of 42.93 and a beta of 1.40. The firm's 50 day moving average price is $32.15 and its two-hundred day moving average price is $30.83. 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 released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm earned $0.33 earnings per share. Weyerhaeuser's revenue for the quarter was down 13.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Weyerhaeuser will post 0.46 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Friday, November 29th. Weyerhaeuser's dividend payout ratio (DPR) is currently 108.11%.

Insider Buying and Selling

In other Weyerhaeuser news, Director James Calvin O'rourke bought 7,800 shares of Weyerhaeuser stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $32.01 per share, with a total value of $249,678.00. Following the acquisition, the director now directly owns 17,672 shares of the company's stock, valued at $565,680.72. The trade was a 79.01 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Truist Financial upped their target price on shares of Weyerhaeuser from $31.00 to $34.00 and gave the company a "hold" rating in a research note on Tuesday, October 15th. Argus upgraded Weyerhaeuser to a "hold" rating in a research note on Friday, August 9th. Finally, StockNews.com downgraded Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Weyerhaeuser presently has an average rating of "Hold" and a consensus price target of $36.33.

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.