Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Westrock Co (NYSE:WRK) by 7.9% in the first quarter, HoldingsChannel.com reports. The firm owned 14,987 shares of the basic materials company’s stock after acquiring an additional 1,098 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Westrock were worth $575,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. LSV Asset Management raised its stake in Westrock by 333.2% in the fourth quarter. LSV Asset Management now owns 5,851,396 shares of the basic materials company’s stock valued at $220,948,000 after buying an additional 4,500,770 shares in the last quarter. Norges Bank acquired a new stake in Westrock in the fourth quarter valued at $141,233,000. Oregon Public Employees Retirement Fund raised its stake in Westrock by 4,262.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,767,164 shares of the basic materials company’s stock valued at $100,000 after buying an additional 3,680,813 shares in the last quarter. BlackRock Inc. raised its stake in Westrock by 12.3% in the fourth quarter. BlackRock Inc. now owns 22,410,471 shares of the basic materials company’s stock valued at $846,221,000 after buying an additional 2,445,795 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Westrock by 64.1% in the fourth quarter. Bank of New York Mellon Corp now owns 3,530,156 shares of the basic materials company’s stock valued at $133,298,000 after buying an additional 1,379,176 shares in the last quarter. Hedge funds and other institutional investors own 85.65% of the company’s stock.
WRK opened at $34.84 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.77 and a current ratio of 1.29. Westrock Co has a one year low of $34.49 and a one year high of $62.05. The stock has a market cap of $8.96 billion, a PE ratio of 8.52, a PEG ratio of 2.02 and a beta of 1.59.
Westrock (NYSE:WRK) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.17. Westrock had a return on equity of 9.03% and a net margin of 4.89%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Westrock Co will post 3.94 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 10th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 5.22%. The ex-dividend date of this dividend was Thursday, May 9th. Westrock’s dividend payout ratio (DPR) is currently 44.50%.
In other news, Director Currey M. Russell bought 5,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were acquired at an average price of $37.50 per share, for a total transaction of $187,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by insiders.
A number of analysts have weighed in on the company. Deutsche Bank cut Westrock from a “buy” rating to a “hold” rating and cut their price target for the company from $51.00 to $42.00 in a research note on Wednesday, April 17th. KeyCorp restated a “hold” rating on shares of Westrock in a research note on Wednesday, May 1st. Finally, UBS Group assumed coverage on Westrock in a research note on Wednesday, May 15th. They issued a “buy” rating and a $47.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $49.56.
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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