Olstein Capital Management L.P. cut its holdings in WestRock Co (NYSE:WRK) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 143,058 shares of the basic materials company’s stock after selling 25,000 shares during the period. WestRock accounts for about 1.2% of Olstein Capital Management L.P.’s portfolio, making the stock its 28th largest holding. Olstein Capital Management L.P. owned approximately 0.06% of WestRock worth $9,043,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in WestRock by 32.6% in the fourth quarter. American Century Companies Inc. now owns 4,631,286 shares of the basic materials company’s stock valued at $292,744,000 after acquiring an additional 1,138,884 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in WestRock by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,616,992 shares of the basic materials company’s stock worth $148,463,000 after purchasing an additional 33,316 shares in the last quarter. Investec Asset Management LTD lifted its stake in WestRock by 31.8% during the third quarter. Investec Asset Management LTD now owns 2,063,933 shares of the basic materials company’s stock worth $117,087,000 after purchasing an additional 497,746 shares in the last quarter. Legal & General Group Plc lifted its stake in WestRock by 3.7% during the third quarter. Legal & General Group Plc now owns 1,257,407 shares of the basic materials company’s stock worth $71,333,000 after purchasing an additional 45,331 shares in the last quarter. Finally, Impax Asset Management LTD lifted its stake in WestRock by 9.3% during the third quarter. Impax Asset Management LTD now owns 1,227,718 shares of the basic materials company’s stock worth $69,648,000 after purchasing an additional 104,862 shares in the last quarter. Hedge funds and other institutional investors own 87.74% of the company’s stock.
WRK has been the topic of a number of research reports. Deutsche Bank set a $78.00 price target on WestRock and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $85.00 price objective on shares of WestRock in a research report on Tuesday, January 30th. DA Davidson reaffirmed a “buy” rating and set a $74.00 price objective on shares of WestRock in a research report on Friday, November 3rd. Citigroup upped their price objective on WestRock from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Finally, Zacks Investment Research lowered WestRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. WestRock currently has an average rating of “Buy” and an average price target of $74.25.
Shares of WestRock Co (NYSE:WRK) opened at $63.43 on Wednesday. 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 firm has a market capitalization of $16,141.90, a price-to-earnings ratio of 20.95, a PEG ratio of 1.25 and a beta of 1.42.
WestRock (NYSE:WRK) last posted its earnings results on Monday, January 29th. The basic materials company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.75 by $0.12. The firm had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.95 billion. WestRock had a return on equity of 7.45% and a net margin of 11.51%. WestRock’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. research analysts forecast that WestRock Co will post 3.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Friday, February 16th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.71%. The ex-dividend date is Thursday, February 15th. WestRock’s dividend payout ratio (DPR) is presently 25.18%.
In related news, 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 owns 50,093 shares of the company’s stock, valued at $3,506,510. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $58.58, for a total value of $605,892.94. Following the completion of the transaction, 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 worth $15,292,305 in the last three months. 2.20% of the stock is currently owned by corporate insiders.
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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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