Allspring Global Investments Holdings LLC Lowers Holdings in Weyerhaeuser Company $WY

Allspring Global Investments Holdings LLC decreased its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 7.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 10,852,795 shares of the real estate investment trust’s stock after selling 864,290 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Weyerhaeuser were worth $262,638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in shares of Weyerhaeuser during the 4th quarter worth $39,000. Addison Advisors LLC increased its position in shares of Weyerhaeuser by 83.4% during the 4th quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 757 shares during the last quarter. Bayban purchased a new stake in Weyerhaeuser in the 4th quarter valued at about $41,000. Costello Asset Management INC raised its holdings in Weyerhaeuser by 118.9% in the 4th quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 976 shares during the period. Finally, Lloyd Advisory Services LLC. acquired a new position in Weyerhaeuser in the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on WY shares. Canadian Imperial Bank of Commerce set a $28.00 target price on shares of Weyerhaeuser in a research note on Thursday, April 23rd. JPMorgan Chase & Co. boosted their price target on shares of Weyerhaeuser from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Citigroup decreased their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Raymond James Financial raised shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.00.

Weyerhaeuser Trading Up 2.2%

Shares of NYSE:WY opened at $24.44 on Friday. The company has a market cap of $17.62 billion, a PE ratio of 45.26, a P/E/G ratio of 1.28 and a beta of 0.89. The company’s 50 day moving average is $23.98 and its two-hundred day moving average is $24.62. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $27.75. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.Weyerhaeuser’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 earnings per share. Equities analysts predict that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were issued a $0.21 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. Weyerhaeuser’s dividend payout ratio is presently 155.56%.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.