Teacher Retirement System of Texas boosted its position in WestRock (NYSE:WRK) by 77.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,617 shares of the basic materials company’s stock after purchasing an additional 53,080 shares during the quarter. Teacher Retirement System of Texas’ holdings in WestRock were worth $7,804,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. OLD Dominion Capital Management Inc. raised its stake in WestRock by 18.0% in the 4th quarter. OLD Dominion Capital Management Inc. now owns 10,069 shares of the basic materials company’s stock valued at $636,000 after purchasing an additional 1,535 shares during the last quarter. SG Americas Securities LLC grew its holdings in WestRock by 31.2% in the 4th quarter. SG Americas Securities LLC now owns 22,885 shares of the basic materials company’s stock valued at $1,447,000 after buying an additional 5,445 shares during the period. Public Employees Retirement Association of Colorado grew its holdings in WestRock by 3.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 50,663 shares of the basic materials company’s stock valued at $3,202,000 after buying an additional 1,691 shares during the period. Conning Inc. grew its holdings in WestRock by 9,098.7% in the 4th quarter. Conning Inc. now owns 445,954 shares of the basic materials company’s stock valued at $28,189,000 after buying an additional 441,106 shares during the period. Finally, Flinton Capital Management LLC grew its holdings in WestRock by 14.9% in the 4th quarter. Flinton Capital Management LLC now owns 135,212 shares of the basic materials company’s stock valued at $8,547,000 after buying an additional 17,584 shares during the period. 86.21% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:WRK opened at $61.03 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 0.80. WestRock has a 1 year low of $52.19 and a 1 year high of $71.55. The stock has a market cap of $15.74 billion, a PE ratio of 23.29, a PEG ratio of 1.12 and a beta of 1.40.
WestRock (NYSE:WRK) last issued its earnings results on Friday, April 27th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, hitting 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 analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. sell-side analysts forecast that WestRock will post 4.07 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 14th. Stockholders of record on Friday, May 4th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Thursday, May 3rd. WestRock’s payout ratio is currently 65.65%.
In other news, Director John A. Luke, Jr. sold 75,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $66.95, for a total transaction of $5,021,250.00. Following the completion of the sale, the director now owns 534,159 shares in the company, valued at approximately $35,761,945.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Luke, Jr. sold 42,250 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $66.12, for a total value of $2,793,570.00. Following the sale, the director now owns 539,693 shares of the company’s stock, valued at approximately $35,684,501.16. The disclosure for this sale can be found here. Insiders have sold a total of 140,831 shares of company stock valued at $9,378,836 in the last quarter. Company insiders own 2.20% of the company’s stock.
Several analysts have commented on the company. Zacks Investment Research cut WestRock from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 5th. KeyCorp restated a “hold” rating on shares of WestRock in a report on Friday, April 27th. ValuEngine cut WestRock from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Citigroup lowered their price target on WestRock from $83.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, April 5th. Finally, Barclays lifted their price target on WestRock from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $75.90.
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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