Greenleaf Trust trimmed its holdings in WestRock Co (NYSE:WRK) by 23.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,080 shares of the basic materials company’s stock after selling 1,229 shares during the quarter. Greenleaf Trust’s holdings in WestRock were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of WRK. LPL Financial LLC boosted its position in shares of WestRock by 29.4% in the first quarter. LPL Financial LLC now owns 8,692 shares of the basic materials company’s stock valued at $558,000 after acquiring an additional 1,973 shares during the period. Principal Financial Group Inc. boosted its position in shares of WestRock by 12.8% in the first quarter. Principal Financial Group Inc. now owns 1,078,968 shares of the basic materials company’s stock valued at $69,238,000 after acquiring an additional 122,390 shares during the period. Allianz Asset Management GmbH boosted its position in shares of WestRock by 16.9% in the first quarter. Allianz Asset Management GmbH now owns 44,411 shares of the basic materials company’s stock valued at $2,850,000 after acquiring an additional 6,411 shares during the period. DnB Asset Management AS bought a new stake in shares of WestRock in the second quarter valued at approximately $1,756,000. Finally, IFM Investors Pty Ltd boosted its position in shares of WestRock by 42.2% in the second quarter. IFM Investors Pty Ltd now owns 11,632 shares of the basic materials company’s stock valued at $663,000 after acquiring an additional 3,453 shares during the period. 85.10% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on the company. TheStreet cut WestRock from a “b-” rating to a “c” rating in a research report on Friday, October 26th. Seaport Global Securities assumed coverage on WestRock in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $52.00 price objective for the company. ValuEngine raised WestRock from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. BMO Capital Markets cut WestRock from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $80.00 to $54.00 in a research report on Tuesday, October 9th. Finally, Zacks Investment Research cut WestRock from a “hold” rating to a “sell” rating in a research report on Thursday, October 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. WestRock has a consensus rating of “Hold” and an average price target of $66.42.
Shares of WRK stock opened at $44.67 on Friday. The firm has a market capitalization of $11.40 billion, a P/E ratio of 17.05, a PEG ratio of 0.85 and a beta of 1.58. WestRock Co has a one year low of $39.21 and a one year high of $71.55. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.56 and a quick ratio of 0.95.
WestRock (NYSE:WRK) last issued its earnings results on Thursday, August 2nd. The basic materials company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.06 by $0.03. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.16 billion. WestRock had a return on equity of 8.49% and a net margin of 11.31%. WestRock’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $0.74 earnings per share. As a group, sell-side analysts predict that WestRock Co will post 4.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Friday, November 9th will be given a $0.455 dividend. This is a boost from WestRock’s previous quarterly dividend of $0.43. This represents a $1.82 annualized dividend and a yield of 4.07%. The ex-dividend date is Thursday, November 8th. WestRock’s dividend payout ratio (DPR) is 65.65%.
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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