State Treasurer State of Michigan trimmed its position in WestRock Co (NYSE:WRK) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 74,602 shares of the basic materials company’s stock after selling 2,500 shares during the period. State Treasurer State of Michigan’s holdings in WestRock were worth $4,716,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Renaissance Technologies LLC purchased a new stake in WestRock in the 2nd quarter worth approximately $19,438,000. Macquarie Group Ltd. increased its holdings in shares of WestRock by 21.0% in the 2nd quarter. Macquarie Group Ltd. now owns 294,230 shares of the basic materials company’s stock worth $16,671,000 after buying an additional 51,091 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of WestRock by 2,916.4% in the 2nd quarter. Janus Henderson Group PLC now owns 1,024,046 shares of the basic materials company’s stock worth $58,023,000 after buying an additional 990,097 shares during the last quarter. BlueCrest Capital Management Ltd bought a new position in shares of WestRock in the 2nd quarter worth $378,000. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of WestRock by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 327,649 shares of the basic materials company’s stock worth $18,565,000 after buying an additional 29,625 shares during the last quarter. 87.74% of the stock is owned by institutional investors and hedge funds.
WestRock Co (WRK) traded up $0.36 during trading hours on Wednesday, hitting $63.79. 834,079 shares of the stock traded hands, compared to its average volume of 2,147,374. WestRock Co has a 12-month low of $49.23 and a 12-month high of $71.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.74 and a current ratio of 1.28. The stock has a market cap of $16,141.90, a PE ratio of 9.30, a price-to-earnings-growth ratio of 1.25 and a beta of 1.42.
WestRock (NYSE:WRK) last issued its quarterly earnings results on Monday, January 29th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.12. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.95 billion. WestRock had a net margin of 11.51% and a return on equity of 7.45%. WestRock’s revenue was up 13.0% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. equities research analysts expect that WestRock Co will post 3.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Shareholders of record on Friday, February 16th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.72 annualized dividend and a yield of 2.70%. WestRock’s dividend payout ratio (DPR) is presently 25.18%.
In related news, EVP Jennifer Graham-Johnson sold 7,700 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $59.23, for a total transaction of $456,071.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $58.58, for a total transaction of $605,892.94. Following the sale, the director now directly owns 497,557 shares in the company, valued at approximately $29,146,889.06. The disclosure for this sale can be found here. Insiders sold 239,281 shares of company stock valued at $15,292,305 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.
WRK has been the topic of several recent research reports. DA Davidson reaffirmed a “buy” rating and set a $82.00 target price on shares of WestRock in a report on Tuesday, January 30th. Deutsche Bank set a $78.00 target price on shares of WestRock and gave the company a “buy” rating in a report on Tuesday, January 30th. ValuEngine raised shares of WestRock from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Barclays increased their target price on shares of WestRock from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Zacks Investment Research raised shares of WestRock from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Saturday, February 3rd. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $74.25.
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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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