Grandview Asset Management LLC bought a new position in Westrock Co (NYSE:WRK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,542 shares of the basic materials company’s stock, valued at approximately $323,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Union Bankshares Corp increased its stake in shares of Westrock by 0.7% in the fourth quarter. Union Bankshares Corp now owns 69,076 shares of the basic materials company’s stock valued at $2,608,000 after buying an additional 450 shares during the period. HBK Sorce Advisory LLC acquired a new position in shares of Westrock in the third quarter valued at approximately $201,000. Telemus Capital LLC increased its stake in shares of Westrock by 8.9% in the third quarter. Telemus Capital LLC now owns 93,210 shares of the basic materials company’s stock valued at $4,981,000 after buying an additional 7,640 shares during the period. DNB Asset Management AS increased its stake in shares of Westrock by 11.4% in the third quarter. DNB Asset Management AS now owns 34,294 shares of the basic materials company’s stock valued at $1,833,000 after buying an additional 3,500 shares during the period. Finally, Alps Advisors Inc. increased its stake in shares of Westrock by 14.9% in the third quarter. Alps Advisors Inc. now owns 885,658 shares of the basic materials company’s stock valued at $47,330,000 after buying an additional 114,702 shares during the period. 86.86% of the stock is owned by institutional investors.
Several research firms have recently issued reports on WRK. Wells Fargo & Co lowered their price objective on Westrock from $53.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday, November 6th. Zacks Investment Research reissued a “hold” rating on shares of Westrock in a research report on Saturday, November 17th. Deutsche Bank set a $58.00 target price on shares of Westrock and gave the company a “buy” rating in a research report on Tuesday, November 6th. Goldman Sachs Group downgraded shares of Westrock from a “buy” rating to a “neutral” rating and decreased their target price for the company from $57.00 to $54.00 in a research report on Monday, December 10th. Finally, TheStreet downgraded shares of Westrock from a “b-” rating to a “c” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $54.33.
In other Westrock news, CFO Ward H. Dickson purchased 2,645 shares of the business’s stock in a transaction on Monday, February 4th. The shares were purchased at an average cost of $37.94 per share, for a total transaction of $100,351.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert A. Feeser sold 67,755 shares of the stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $46.91, for a total value of $3,178,387.05. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
NYSE:WRK opened at $37.83 on Monday. The company has a market cap of $9.65 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 1.58 and a beta of 1.66. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.40 and a quick ratio of 0.84. Westrock Co has a fifty-two week low of $35.20 and a fifty-two week high of $67.96.
Westrock (NYSE:WRK) last released its earnings results on Thursday, January 31st. The basic materials company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.58 billion. Westrock had a net margin of 5.44% and a return on equity of 9.12%. On average, sell-side analysts expect that Westrock Co will post 4.22 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 25th. Shareholders of record on Friday, February 15th will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Thursday, February 14th. Westrock’s payout ratio is 44.50%.
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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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