Franklin Resources Inc. Buys 67,314 Shares of Weyerhaeuser (NYSE:WY)

Franklin Resources Inc. raised its stake in shares of Weyerhaeuser (NYSE:WY) by 10.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 729,570 shares of the real estate investment trust’s stock after acquiring an additional 67,314 shares during the quarter. Franklin Resources Inc. owned approximately 0.10% of Weyerhaeuser worth $23,777,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WY. Wellington Management Group LLP boosted its holdings in shares of Weyerhaeuser by 12.7% in the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock worth $1,210,694,000 after acquiring an additional 4,035,048 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Weyerhaeuser by 257.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust’s stock valued at $151,437,000 after purchasing an additional 3,220,235 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Weyerhaeuser by 2,664.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust’s stock worth $74,355,000 after purchasing an additional 2,116,520 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Weyerhaeuser by 30.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock worth $291,306,000 after purchasing an additional 2,004,073 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Weyerhaeuser by 512.3% during the second quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust’s stock worth $44,386,000 after purchasing an additional 1,308,125 shares during the last quarter. 82.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

WY has been the subject of a number of research analyst reports. BMO Capital Markets raised Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Friday, December 6th. Truist Financial boosted their target price on shares of Weyerhaeuser from $31.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, StockNews.com upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.33.

Weyerhaeuser Stock Performance

Shares of NYSE:WY opened at $27.21 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27. The stock has a market capitalization of $19.77 billion, a P/E ratio of 36.77 and a beta of 1.40. The business has a 50-day moving average price of $31.37 and a two-hundred day moving average price of $30.82.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter in the previous year, the company earned $0.33 EPS. Weyerhaeuser’s revenue was down 13.3% on a year-over-year basis. Equities analysts predict that Weyerhaeuser will post 0.46 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Friday, November 29th. Weyerhaeuser’s payout ratio is 108.11%.

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.