M&G Plc Purchases 273,291 Shares of Weyerhaeuser (NYSE:WY)

M&G Plc grew its position in shares of Weyerhaeuser (NYSE:WY) by 16.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,961,969 shares of the real estate investment trust’s stock after acquiring an additional 273,291 shares during the quarter. M&G Plc owned about 0.27% of Weyerhaeuser worth $54,935,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WY. Turtle Creek Wealth Advisors LLC purchased a new stake in Weyerhaeuser during the 4th quarter valued at $26,000. American National Bank boosted its position in Weyerhaeuser by 171.5% during the first quarter. American National Bank now owns 763 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 482 shares in the last quarter. Lindbrook Capital LLC boosted its position in Weyerhaeuser by 92.6% during the fourth quarter. Lindbrook Capital LLC now owns 888 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 427 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in Weyerhaeuser during the first quarter valued at about $33,000. Finally, Register Financial Advisors LLC bought a new stake in Weyerhaeuser during the first quarter valued at about $36,000. 82.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WY has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed a “market perform” rating and set a $38.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, July 30th. Truist Financial dropped their price objective on Weyerhaeuser from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Citigroup lowered their price target on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. DA Davidson lowered their price target on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Monday, July 29th. Finally, Royal Bank of Canada raised their price target on Weyerhaeuser from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Weyerhaeuser presently has a consensus rating of “Hold” and a consensus price target of $35.83.

Insider Activity at Weyerhaeuser

In related news, Director Nicole Weyerhaeuser Piasecki sold 5,776 shares of Weyerhaeuser stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $29.40, for a total transaction of $169,814.40. Following the completion of the transaction, the director now directly owns 5,790 shares in the company, valued at $170,226. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

Weyerhaeuser Stock Performance

Shares of NYSE:WY traded up $0.19 during trading on Tuesday, hitting $30.33. The stock had a trading volume of 3,539,508 shares, compared to its average volume of 3,563,008. Weyerhaeuser has a 12-month low of $26.73 and a 12-month high of $36.27. The stock has a market capitalization of $22.11 billion, a price-to-earnings ratio of 27.40 and a beta of 1.39. The company has a quick ratio of 1.58, a current ratio of 2.19 and a debt-to-equity ratio of 0.48. The stock has a 50-day simple moving average of $29.49 and a two-hundred day simple moving average of $31.66.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.98 billion. Weyerhaeuser had a return on equity of 6.19% and a net margin of 9.89%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 earnings per share. On average, equities research analysts expect that Weyerhaeuser will post 0.66 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, August 30th. Weyerhaeuser’s dividend payout ratio is currently 72.73%.

Weyerhaeuser 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.