LSV Asset Management boosted its holdings in shares of WestRock Co (NYSE:WRK) by 6.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 880,553 shares of the basic materials company’s stock after purchasing an additional 55,397 shares during the quarter. LSV Asset Management owned approximately 0.35% of WestRock worth $55,659,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of WRK. Invictus RG purchased a new position in shares of WestRock in the third quarter valued at approximately $108,000. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of WestRock in the third quarter valued at approximately $130,000. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of WestRock in the third quarter valued at approximately $147,000. Steward Partners Investment Advisory LLC increased its holdings in shares of WestRock by 3,666.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,013 shares of the basic materials company’s stock valued at $190,000 after purchasing an additional 2,933 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of WestRock in the fourth quarter valued at approximately $239,000. Institutional investors own 87.74% of the company’s stock.
Several research firms recently commented on WRK. Stephens set a $74.00 price target on WestRock and gave the company a “hold” rating in a report on Monday, January 29th. Barclays raised their target price on WestRock from $60.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Monday. BMO Capital Markets lifted their price objective on WestRock to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised WestRock from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Saturday, February 3rd. Finally, DA Davidson reiterated a “buy” rating and issued a $82.00 target price on shares of WestRock in a report on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $74.25.
WestRock Co (WRK) traded up $0.15 during midday trading on Tuesday, reaching $63.42. The company’s stock had a trading volume of 192,929 shares, compared to its average volume of 2,156,212. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.74. WestRock Co has a 52 week low of $49.23 and a 52 week high of $71.55. The firm has a market cap of $15,902.08, a PE ratio of 9.69, a price-to-earnings-growth ratio of 1.23 and a beta of 1.42.
WestRock (NYSE:WRK) last released its earnings results on Monday, January 29th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.12. The company had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.95 billion. WestRock had a return on equity of 7.45% and a net margin of 11.51%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. research analysts predict that WestRock Co will post 3.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Friday, February 16th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, February 15th. WestRock’s dividend payout ratio (DPR) is 25.18%.
In other WestRock news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $58.81, for a total transaction of $608,271.83. Following the transaction, the director now owns 497,557 shares of the company’s stock, valued at approximately $29,261,327.17. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider James B. Porter sold 14,930 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $70.00, for a total value of $1,045,100.00. Following the transaction, the insider now directly owns 50,093 shares in the company, valued at approximately $3,506,510. The disclosure for this sale can be found here. Insiders have sold a total of 239,281 shares of company stock worth $15,292,305 in the last three months. Corporate insiders own 2.20% of the company’s stock.
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WestRock Company Profile
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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