Advisory Services Network LLC reduced its holdings in shares of Westrock Co (NYSE:WRK) by 68.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,037 shares of the basic materials company’s stock after selling 15,108 shares during the period. Advisory Services Network LLC’s holdings in Westrock were worth $302,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Virtu Financial LLC purchased a new stake in shares of Westrock in the 3rd quarter worth $402,000. Public Employees Retirement System of Ohio increased its position in Westrock by 1.7% in the third quarter. Public Employees Retirement System of Ohio now owns 87,514 shares of the basic materials company’s stock worth $3,190,000 after buying an additional 1,485 shares in the last quarter. National Pension Service increased its position in Westrock by 5.3% in the third quarter. National Pension Service now owns 374,408 shares of the basic materials company’s stock worth $13,647,000 after buying an additional 18,926 shares in the last quarter. State Street Corp raised its stake in shares of Westrock by 0.8% in the third quarter. State Street Corp now owns 12,128,835 shares of the basic materials company’s stock worth $442,096,000 after buying an additional 98,965 shares during the period. Finally, Strs Ohio raised its stake in shares of Westrock by 4.3% in the fourth quarter. Strs Ohio now owns 525,058 shares of the basic materials company’s stock worth $22,530,000 after buying an additional 21,420 shares during the period. 81.47% of the stock is owned by institutional investors and hedge funds.
NYSE WRK opened at $40.53 on Friday. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 2.94 and a beta of 1.77. The company has a quick ratio of 0.80, a current ratio of 1.44 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average price of $41.78 and a 200-day moving average price of $38.46. Westrock Co has a twelve month low of $31.94 and a twelve month high of $44.39.
Westrock (NYSE:WRK) last issued its earnings results on Thursday, January 30th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). Westrock had a net margin of 4.69% and a return on equity of 8.23%. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.38 billion. During the same period last year, the business posted $0.83 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts expect that Westrock Co will post 3.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Friday, February 14th will be given a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Thursday, February 13th. Westrock’s payout ratio is currently 46.73%.
A number of research analysts recently issued reports on WRK shares. KeyCorp reiterated a “sell” rating and set a $34.00 price objective on shares of Westrock in a research note on Thursday, November 7th. Wells Fargo & Co upgraded shares of Westrock from an “equal weight” rating to an “overweight” rating and set a $52.00 target price on the stock in a research note on Thursday, January 2nd. Exane BNP Paribas initiated coverage on shares of Westrock in a report on Monday, December 2nd. They set an “outperform” rating and a $48.00 price target on the stock. Bank of America upgraded shares of Westrock from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Monday, November 18th. Finally, ValuEngine cut shares of Westrock from a “hold” rating to a “sell” rating in a research note on Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $44.78.
In other Westrock news, Director John A. Luke, Jr. sold 188,659 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $40.67, for a total transaction of $7,672,761.53. Following the completion of the transaction, the director now owns 689,418 shares of the company’s stock, valued at approximately $28,038,630.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James B. Porter sold 25,753 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $40.04, for a total transaction of $1,031,150.12. Following the transaction, the insider now directly owns 47,119 shares of the company’s stock, valued at approximately $1,886,644.76. The disclosure for this sale can be found here. Company insiders own 1.92% 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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