Tiverton Asset Management LLC Raises Stake in WestRock (WRK)

Tiverton Asset Management LLC lifted its position in WestRock (NYSE:WRK) by 49.0% in the 1st quarter, HoldingsChannel reports. The fund owned 3,638 shares of the basic materials company’s stock after acquiring an additional 1,196 shares during the period. Tiverton Asset Management LLC’s holdings in WestRock were worth $233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WRK. Schwab Charles Investment Management Inc. grew its position in shares of WestRock by 7.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 904,853 shares of the basic materials company’s stock worth $57,196,000 after acquiring an additional 59,682 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of WestRock in the 4th quarter worth approximately $239,000. State of Alaska Department of Revenue grew its position in shares of WestRock by 72.3% in the 4th quarter. State of Alaska Department of Revenue now owns 43,248 shares of the basic materials company’s stock worth $2,731,000 after acquiring an additional 18,152 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of WestRock by 3,666.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,013 shares of the basic materials company’s stock worth $190,000 after acquiring an additional 2,933 shares in the last quarter. Finally, Regentatlantic Capital LLC grew its position in shares of WestRock by 468.5% in the 4th quarter. Regentatlantic Capital LLC now owns 58,499 shares of the basic materials company’s stock worth $3,698,000 after acquiring an additional 48,209 shares in the last quarter. Institutional investors own 87.28% of the company’s stock.

WestRock opened at $62.09 on Friday, Marketbeat Ratings reports. WestRock has a 12-month low of $51.61 and a 12-month high of $71.55. The company has a market cap of $15.97 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.14 and a beta of 1.40. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 0.48.

WestRock (NYSE:WRK) last released its quarterly earnings data on Friday, April 27th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.83. WestRock had a return on equity of 7.84% and a net margin of 12.01%. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. equities analysts expect that WestRock will post 4.07 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 14th. Investors of record on Friday, May 4th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, May 3rd. This represents a $1.72 dividend on an annualized basis and a yield of 2.77%. WestRock’s dividend payout ratio is currently 65.65%.

Several research analysts have recently commented on WRK shares. Deutsche Bank set a $78.00 target price on WestRock and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Royal Bank of Canada reiterated a “buy” rating and issued a $85.00 target price on shares of WestRock in a research report on Tuesday, January 30th. Zacks Investment Research upgraded WestRock from a “hold” rating to a “strong-buy” rating and set a $74.00 price objective for the company in a research report on Saturday, April 7th. Citigroup boosted their price objective on WestRock from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, ValuEngine lowered WestRock from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. WestRock has a consensus rating of “Buy” and an average price target of $75.90.

In other WestRock news, Director John A. Luke, Jr. sold 50,000 shares of WestRock stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $65.56, for a total transaction of $3,278,000.00. Following the sale, the director now owns 545,435 shares of the company’s stock, valued at approximately $35,758,718.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Luke, Jr. sold 75,000 shares of WestRock stock in a transaction on Monday, February 26th. The shares were sold at an average price of $66.95, for a total value of $5,021,250.00. Following the sale, the director now directly owns 534,159 shares in the company, valued at approximately $35,761,945.05. The disclosure for this sale can be found here. Insiders have sold a total of 190,831 shares of company stock worth $12,656,836 in the last ninety days. 2.68% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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