Legal & General Group Plc Acquires 503,059 Shares of Weyerhaeuser (NYSE:WY)

Legal & General Group Plc grew its stake in shares of Weyerhaeuser (NYSE:WY) by 4.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,428,336 shares of the real estate investment trust’s stock after purchasing an additional 503,059 shares during the period. Legal & General Group Plc owned about 1.57% of Weyerhaeuser worth $324,450,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WY. State Board of Administration of Florida Retirement System lifted its position in shares of Weyerhaeuser by 3.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 896,881 shares of the real estate investment trust’s stock valued at $32,207,000 after purchasing an additional 31,355 shares in the last quarter. Slagle Financial LLC boosted its stake in shares of Weyerhaeuser by 101.7% in the 4th quarter. Slagle Financial LLC now owns 114,270 shares of the real estate investment trust’s stock worth $3,973,000 after buying an additional 57,608 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of Weyerhaeuser by 1,548.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 79,850 shares of the real estate investment trust’s stock worth $2,776,000 after buying an additional 75,007 shares during the last quarter. M&G Plc grew its holdings in shares of Weyerhaeuser by 16.2% in the second quarter. M&G Plc now owns 1,961,969 shares of the real estate investment trust’s stock valued at $54,935,000 after acquiring an additional 273,291 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Weyerhaeuser by 243.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 342,530 shares of the real estate investment trust’s stock valued at $12,300,000 after acquiring an additional 242,744 shares during the last quarter. 82.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WY. BMO Capital Markets restated a “market perform” rating and issued a $38.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, July 30th. Argus upgraded shares of Weyerhaeuser to a “hold” rating in a report on Friday, August 9th. Truist Financial dropped their target price on shares of Weyerhaeuser from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. DA Davidson decreased their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Finally, Citigroup dropped their price objective on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.83.

Weyerhaeuser Stock Performance

Shares of WY stock opened at $33.75 on Friday. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. The stock has a market capitalization of $24.60 billion, a P/E ratio of 30.68 and a beta of 1.40. The company has a current ratio of 2.19, a quick ratio of 1.58 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $31.26 and its 200 day moving average is $31.16.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Weyerhaeuser had a return on equity of 6.19% and a net margin of 9.89%. The company 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 business earned $0.32 earnings per share. Weyerhaeuser’s revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts anticipate that Weyerhaeuser will post 0.52 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, August 30th. Weyerhaeuser’s payout ratio is presently 72.73%.

Insider Activity

In other news, Director Albert Monaco acquired 31,500 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was bought at an average cost of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the transaction, the director now owns 70,726 shares of the company’s stock, valued at $2,219,381.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Albert Monaco purchased 31,500 shares of the business’s stock in a transaction on Monday, August 26th. The stock was purchased at an average cost of $31.38 per share, with a total value of $988,470.00. Following the acquisition, the director now directly owns 70,726 shares in the company, valued at $2,219,381.88. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Calvin O’rourke purchased 7,800 shares of the firm’s stock in a transaction dated 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 acquisition, the director now owns 17,672 shares of the company’s stock, valued at approximately $565,680.72. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.

Weyerhaeuser Company Profile

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.