Advisor Group Inc. raised its position in shares of Westrock Co (NYSE:WRK) by 11.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,512 shares of the basic materials company’s stock after purchasing an additional 2,926 shares during the period. Advisor Group Inc.’s holdings in Westrock were worth $1,094,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Westrock during the first quarter worth $26,000. Parallel Advisors LLC increased its holdings in shares of Westrock by 64.5% during the fourth quarter. Parallel Advisors LLC now owns 719 shares of the basic materials company’s stock worth $27,000 after buying an additional 282 shares in the last quarter. Kings Point Capital Management acquired a new position in shares of Westrock during the fourth quarter worth $30,000. JOYN Advisors Inc. increased its holdings in shares of Westrock by 245.4% during the fourth quarter. JOYN Advisors Inc. now owns 867 shares of the basic materials company’s stock worth $33,000 after buying an additional 616 shares in the last quarter. Finally, Oakworth Capital Inc. increased its holdings in shares of Westrock by 87.9% during the fourth quarter. Oakworth Capital Inc. now owns 930 shares of the basic materials company’s stock worth $35,000 after buying an additional 435 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.
Shares of Westrock stock opened at $36.30 on Thursday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.80. Westrock Co has a twelve month low of $32.01 and a twelve month high of $61.65. The firm has a market capitalization of $9.32 billion, a P/E ratio of 8.88, a price-to-earnings-growth ratio of 2.00 and a beta of 1.61.
Westrock (NYSE:WRK) last issued its quarterly earnings data on Tuesday, April 30th. The basic materials company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.17. Westrock had a net margin of 4.89% and a return on equity of 9.03%. The company 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 posted $0.83 earnings per share. Westrock’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, sell-side analysts predict that Westrock Co will post 4.02 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 10th were paid a $0.455 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.82 annualized dividend and a dividend yield of 5.01%. Westrock’s dividend payout ratio is 44.50%.
Several brokerages have recently issued reports on WRK. Deutsche Bank downgraded shares of Westrock from a “buy” rating to a “hold” rating and lowered their price target for the stock from $51.00 to $42.00 in a report on Wednesday, April 17th. KeyCorp reiterated a “hold” rating on shares of Westrock in a report on Wednesday, May 1st. Finally, UBS Group began coverage on shares of Westrock in a report on Wednesday, May 15th. They set a “buy” rating and a $47.00 price target for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. Westrock presently has an average rating of “Hold” and an average price target of $49.56.
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Westrock Company Profile
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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