490,832 Weyerhaeuser Company $WY Shares Acquired by M&G PLC

M&G PLC grew its position in Weyerhaeuser Company (NYSE:WY) by 18.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,202,041 shares of the real estate investment trust’s stock after purchasing an additional 490,832 shares during the quarter. M&G PLC’s holdings in Weyerhaeuser were worth $60,839,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. First Eagle Investment Management LLC boosted its stake in shares of Weyerhaeuser by 10.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 51,179,282 shares of the real estate investment trust’s stock valued at $1,225,232,000 after purchasing an additional 4,885,818 shares in the last quarter. Wellington Management Group LLP increased its holdings in Weyerhaeuser by 14.3% in the second quarter. Wellington Management Group LLP now owns 43,574,118 shares of the real estate investment trust’s stock valued at $1,043,164,000 after purchasing an additional 5,437,685 shares during the period. State Street Corp increased its stake in shares of Weyerhaeuser by 3.3% in the second quarter. State Street Corp now owns 34,298,957 shares of the real estate investment trust’s stock valued at $821,117,000 after buying an additional 1,106,553 shares during the period. Bank of New York Mellon Corp bought a new position in Weyerhaeuser during the 2nd quarter worth approximately $468,969,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Weyerhaeuser by 6.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 11,760,600 shares of the real estate investment trust’s stock worth $218,630,000 after buying an additional 684,888 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Stock Performance

Weyerhaeuser stock opened at $21.12 on Tuesday. The firm has a market capitalization of $15.21 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 4.45 and a beta of 0.92. Weyerhaeuser Company has a 1-year low of $18.25 and a 1-year high of $27.75. The firm’s 50 day simple moving average is $20.52 and its 200 day simple moving average is $23.53. The company has a current ratio of 1.82, a quick ratio of 1.08 and a debt-to-equity ratio of 0.57.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Thursday, October 29th. The real estate investment trust reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. Weyerhaeuser had a net margin of 6.47% and a return on equity of 1.72%. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the firm posted $0.12 earnings per share. Weyerhaeuser’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, analysts expect that Weyerhaeuser Company will post 0.27 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a $0.21 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.84 dividend on an annualized basis and a yield of 4.0%. Weyerhaeuser’s payout ratio is presently 135.48%.

Analyst Ratings Changes

Several brokerages have issued reports on WY. DA Davidson dropped their price target on Weyerhaeuser from $31.00 to $27.00 and set a “buy” rating on the stock in a research note on Tuesday, October 27th. Royal Bank Of Canada lowered their price objective on Weyerhaeuser from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. Citigroup raised their price target on shares of Weyerhaeuser from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. JPMorgan Chase & Co. cut their price objective on Weyerhaeuser from $31.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, September 3rd. Finally, Weiss Ratings lowered shares of Weyerhaeuser from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $26.10.

About Weyerhaeuser

Weyerhaeuser is a timber, land and wood-products company founded in 1900 and headquartered in Seattle. It owns and manages timberlands in the United States and holds long-term forest-management licenses in Canada.

The company grows and harvests timber and manufactures wood products, including lumber, engineered wood products, oriented strand board and plywood. These materials are used in residential construction, remodeling and other building applications.

Weyerhaeuser also manages its timberlands for real estate, energy and other natural-resource opportunities.