Victory Capital Management Inc. Boosts Holdings in Weyerhaeuser (NYSE:WY)

Victory Capital Management Inc. raised its stake in Weyerhaeuser (NYSE:WY - Free Report) by 11.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 457,002 shares of the real estate investment trust's stock after purchasing an additional 48,137 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Weyerhaeuser worth $15,474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WY. Price T Rowe Associates Inc. MD raised its holdings in Weyerhaeuser by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,261,654 shares of the real estate investment trust's stock valued at $1,840,807,000 after acquiring an additional 2,874,101 shares in the last quarter. Legal & General Group Plc grew its position in Weyerhaeuser by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 11,428,336 shares of the real estate investment trust's stock worth $324,450,000 after acquiring an additional 503,059 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Weyerhaeuser by 30.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust's stock valued at $291,306,000 after buying an additional 2,004,073 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of 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 valued at $93,584,000 after buying an additional 804,650 shares during the last quarter. Finally, abrdn plc grew its position in shares of Weyerhaeuser by 4.1% in the 3rd quarter. abrdn plc now owns 3,256,780 shares of the real estate investment trust's stock valued at $110,161,000 after buying an additional 128,055 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on WY. Truist Financial upped 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. DA Davidson lowered 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. Argus raised Weyerhaeuser to a "hold" rating in a research report on Friday, August 9th. Royal Bank of Canada increased their price target on Weyerhaeuser from $34.00 to $37.00 and gave the company an "outperform" rating in a research report on Monday, July 29th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $38.00 price objective on shares of Weyerhaeuser in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $36.33.

Weyerhaeuser Stock Performance

Shares of NYSE WY remained flat at $30.69 during midday trading on Wednesday. The stock had a trading volume of 3,593,385 shares, compared to its average volume of 3,607,867. The stock has a 50 day moving average price of $32.32 and a 200-day moving average price of $30.79. The stock has a market capitalization of $22.30 billion, a price-to-earnings ratio of 41.45 and a beta of 1.40. 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 has a 12-month low of $26.73 and a 12-month high of $36.27.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its 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 return on equity of 4.21% and a net margin of 7.43%. The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.70 billion. During the same period last year, the firm earned $0.33 EPS. Weyerhaeuser's revenue for the quarter was down 13.3% compared to the same quarter last year. Equities analysts forecast that Weyerhaeuser will post 0.46 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.61%. Weyerhaeuser's payout ratio is 108.11%.

Insider Activity at Weyerhaeuser

In related news, Director James Calvin O'rourke acquired 7,800 shares of the company's stock in a transaction dated 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 completion of the acquisition, the director now directly owns 17,672 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Albert Monaco bought 31,500 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $31.38 per share, with a total value of $988,470.00. Following the completion of the transaction, the director now directly owns 70,726 shares of the company's stock, valued at $2,219,381.88. This trade represents a 80.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.30% of the stock is owned by insiders.

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.