MetLife Investment Management LLC Has $6.40 Million Stock Position in Weyerhaeuser (NYSE:WY)

MetLife Investment Management LLC lessened its stake in Weyerhaeuser (NYSE:WY) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 189,146 shares of the real estate investment trust’s stock after selling 5,299 shares during the quarter. MetLife Investment Management LLC’s holdings in Weyerhaeuser were worth $6,404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WY. Legal & General Group Plc lifted its stake in Weyerhaeuser by 4.6% in the second quarter. Legal & General Group Plc now owns 11,428,336 shares of the real estate investment trust’s stock valued at $324,450,000 after acquiring an additional 503,059 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Weyerhaeuser by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,740,119 shares of the real estate investment trust’s stock valued at $295,940,000 after purchasing an additional 454,095 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Weyerhaeuser by 30.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock valued at $291,306,000 after purchasing an additional 2,004,073 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Weyerhaeuser by 23.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,919,349 shares of the real estate investment trust’s stock worth $132,709,000 after buying an additional 740,508 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Weyerhaeuser by 32.3% in the second quarter. Principal Financial Group Inc. now owns 3,296,393 shares of the real estate investment trust’s stock valued at $93,584,000 after buying an additional 804,650 shares during the period. 82.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WY. Argus upgraded Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. Truist Financial upped their price objective on shares of Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Finally, StockNews.com lowered shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $36.33.

Insider Activity at Weyerhaeuser

In other news, Director James Calvin O’rourke purchased 7,800 shares of Weyerhaeuser stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of $32.01 per share, for a total transaction of $249,678.00. Following the transaction, the director now owns 17,672 shares of the company’s stock, valued at approximately $565,680.72. The trade was a 79.01 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.27% of the stock is owned by insiders.

Weyerhaeuser Price Performance

NYSE:WY opened at $32.26 on Friday. Weyerhaeuser has a 52 week low of $26.73 and a 52 week high of $36.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.41 and a current ratio of 2.01. The firm’s 50-day simple moving average is $32.18 and its 200 day simple moving average is $30.83. The firm has a market cap of $23.44 billion, a price-to-earnings ratio of 43.59 and a beta of 1.40.

Weyerhaeuser (NYSE:WY) last announced its 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. The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The business’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. As a group, sell-side analysts predict that Weyerhaeuser will post 0.46 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, November 29th. Weyerhaeuser’s payout ratio is currently 108.11%.

About Weyerhaeuser

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.