DNB Asset Management AS boosted its stake in shares of WestRock (NYSE: WRK – Get Rating) by 29.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,247 shares of the basic materials company stock after acquiring an additional 21,384 shares during the quarter. DNB Asset Management AS’s holdings in WestRock were worth $ 4,479,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Mutual of America Capital Management LLC increased its stake in WestRock by 0.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 35,255 shares of the basic materials company stock worth $ 1,564,000 after acquiring an additional 229 shares during the last quarter. Cetera Investment Advisers increased its stake in WestRock by 1.5% during the fourth quarter. Cetera Investment Advisers now owns 16,781 shares of the basic materials company stock worth $ 744,000 after acquiring an additional 254 shares during the last quarter. Signaturefd LLC grew its stake in shares of WestRock by 34.0% during the fourth quarter. Signaturefd LLC now owns 1,084 shares of the basic materials company stock valued at $ 48,000 after buying an additional 275 shares during the last quarter. Advisor Partners LLC grew its stake in shares of WestRock by 3.0% during the fourth quarter. Advisor Partners LLC now owns 10,700 shares of the basic materials company stock valued at $ 475,000 after buying an additional 307 shares during the last quarter. Finally, Benson Investment Management Company Inc. grew its stake in shares of WestRock by 0.4% during the fourth quarter. Benson Investment Management Company Inc. now owns 88,742 shares of the basic materials company stock valued at $ 3,937,000 after buying an additional 325 shares during the last quarter. 84.42% of the stock is currently owned by institutional investors.
In other WestRock news, insider Thomas Stigers sold 15,000 shares of the company stock in a transaction on Monday, April 18th. The stock was sold at an average price of $ 50.10, for a total transaction of $ 751,500.00. Following the completion of the sale, the insider now owns 88,034 shares in the company, valued at $ 4,410,503.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.
Shares of NYSE: WRK opened at $ 39.29 on Thursday. The business’s 50 day moving average is $ 47.78 and its 200 day moving average is $ 46.29. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.69. The stock has a market cap of $ 10.01 billion, a P / E ratio of 13.27, a price-to-earnings-growth ratio of 0.37 and a beta of 0.99. WestRock has a 52-week low of $ 38.78 and a 52-week high of $ 54.78.
WestRock (NYSE: WRK – Get Rating) last posted its earnings results on Thursday, May 5th. The basic materials company reported $ 1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $ 1.01 by $ 0.16. The company had revenue of $ 5.38 billion during the quarter, compared to analyst estimates of $ 5.08 billion. WestRock had a return on equity of 9.32% and a net margin of 3.93%. WestRock’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $ 0.54 earnings per share. On average, sell-side analysts anticipate that WestRock will post 5.11 EPS for the current fiscal year.
WestRock announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 5th that allows the company to buyback 25,000,000 shares. This buyback authorization allows the basic materials company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, May 24th. Shareholders of record on Thursday, May 12th were issued a dividend of $ 0.25 per share. The ex-dividend date was Wednesday, May 11th. This represents a $ 1.00 dividend on an annualized basis and a yield of 2.55%. WestRock’s dividend payout ratio is currently 33.78%.
A number of research analysts have recently commented on WRK shares. StockNews.com cut WestRock from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 18th. Citigroup cut WestRock from a “buy” rating to a “neutral” rating and cut their target price for the company from $ 53.00 to $ 45.00 in a research note on Tuesday. TheStreet cut WestRock from a “b” rating to a “c +” rating in a research note on Thursday, June 16th. Deutsche Bank Aktiengesellschaft upped their target price on WestRock from $ 52.00 to $ 59.00 and gave the company a “hold” rating in a research note on Monday, April 18th. Finally, Wells Fargo & Company dropped their target price on WestRock from $ 66.00 to $ 59.00 and set an “overweight” rating on the stock in a research note on Thursday, May 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, WestRock presently has a consensus rating of “Hold” and a consensus target price of $ 51.86.
WestRock Profile: (Get Rating)
WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through two segments, Corrugated Packaging and Consumer Packaging. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.
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