Tredje AP fonden lessened its stake in WestRock (NYSE:WRK) by 16.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,430 shares of the basic materials company’s stock after selling 6,490 shares during the period. Tredje AP fonden’s holdings in WestRock were worth $2,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its stake in shares of WestRock by 32.6% during the fourth quarter. American Century Companies Inc. now owns 4,631,286 shares of the basic materials company’s stock worth $292,744,000 after buying an additional 1,138,884 shares during the period. Alps Advisors Inc. acquired a new stake in WestRock in the fourth quarter valued at about $47,018,000. Two Sigma Investments LP lifted its position in WestRock by 280.4% in the fourth quarter. Two Sigma Investments LP now owns 806,081 shares of the basic materials company’s stock valued at $50,952,000 after purchasing an additional 594,196 shares during the period. Conning Inc. lifted its position in WestRock by 9,098.7% in the fourth quarter. Conning Inc. now owns 445,954 shares of the basic materials company’s stock valued at $28,189,000 after purchasing an additional 441,106 shares during the period. Finally, W. E. Donoghue & Co. LLC acquired a new stake in WestRock in the fourth quarter valued at about $17,229,000. Institutional investors own 86.21% of the company’s stock.
A number of brokerages recently commented on WRK. Zacks Investment Research downgraded shares of WestRock from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 5th. KeyCorp restated a “hold” rating on shares of WestRock in a research report on Friday, April 27th. ValuEngine downgraded shares of WestRock from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Citigroup reduced their price objective on shares of WestRock from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 5th. Finally, Barclays raised their price objective on shares of WestRock from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $75.90.
Shares of WestRock stock opened at $62.09 on Monday. WestRock has a 12-month low of $51.61 and a 12-month high of $71.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 0.80. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 1.13 and a beta of 1.40.
WestRock (NYSE:WRK) last issued its quarterly earnings data on Friday, April 27th. The basic materials company reported $0.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.83. WestRock had a net margin of 12.01% and a return on equity of 7.84%. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the company posted $0.54 EPS. The company’s revenue was up 9.9% on a year-over-year basis. sell-side analysts predict that WestRock will post 4.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 14th. Stockholders of record on Friday, May 4th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, May 3rd. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.77%. WestRock’s dividend payout ratio (DPR) is 65.65%.
In other news, Director John A. Luke, Jr. sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $66.95, for a total transaction of $5,021,250.00. Following the completion of the transaction, the director now directly owns 534,159 shares of the company’s stock, valued at approximately $35,761,945.05. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John A. Luke, Jr. sold 50,000 shares of WestRock stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $65.56, for a total transaction of $3,278,000.00. Following the completion of the sale, the director now directly owns 545,435 shares of the company’s stock, valued at $35,758,718.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 190,831 shares of company stock valued at $12,656,836. Corporate insiders own 2.20% of the company’s stock.
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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