Geode Capital Management LLC raised its stake in WestRock Co (NYSE:WRK) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,868,772 shares of the basic materials company’s stock after buying an additional 242,365 shares during the quarter. Geode Capital Management LLC owned 1.12% of WestRock worth $180,979,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in WRK. Nationwide Fund Advisors lifted its stake in WestRock by 6.4% in the third quarter. Nationwide Fund Advisors now owns 148,098 shares of the basic materials company’s stock valued at $8,402,000 after buying an additional 8,894 shares during the period. Crossmark Global Holdings Inc. acquired a new position in WestRock in the third quarter valued at about $1,698,000. Victory Capital Management Inc. lifted its stake in WestRock by 13.9% in the third quarter. Victory Capital Management Inc. now owns 146,114 shares of the basic materials company’s stock valued at $8,289,000 after buying an additional 17,844 shares during the period. Tocqueville Asset Management L.P. lifted its stake in WestRock by 21.8% in the third quarter. Tocqueville Asset Management L.P. now owns 5,310 shares of the basic materials company’s stock valued at $301,000 after buying an additional 951 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in WestRock by 6.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 38,333 shares of the basic materials company’s stock valued at $2,175,000 after buying an additional 2,354 shares during the period. 88.20% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider James B. Porter sold 14,930 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $70.00, for a total transaction of $1,045,100.00. Following the completion of the transaction, the insider now directly owns 50,093 shares in the company, valued at $3,506,510. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Steven C. Voorhees sold 49,267 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $65.00, for a total value of $3,202,355.00. Following the transaction, the chief executive officer now owns 700,051 shares of the company’s stock, valued at $45,503,315. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 475,335 shares of company stock valued at $31,283,820. 2.20% of the stock is owned by corporate insiders.
WestRock Co (NYSE WRK) traded down $0.81 during trading hours on Wednesday, hitting $66.20. The company had a trading volume of 1,743,111 shares, compared to its average volume of 1,922,900. 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 company has a market capitalization of $17,106.28, a P/E ratio of 9.69, a PEG ratio of 1.32 and a beta of 1.37. WestRock Co has a fifty-two week low of $49.23 and a fifty-two week high of $71.55.
WestRock (NYSE:WRK) last posted its quarterly earnings data on Monday, January 29th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.12. The business had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.95 billion. WestRock had a return on equity of 7.45% and a net margin of 11.51%. WestRock’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. research analysts anticipate that WestRock Co will post 3.95 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Friday, February 16th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.60%. WestRock’s payout ratio is presently 25.18%.
Several research firms have weighed in on WRK. ValuEngine lowered WestRock from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Zacks Investment Research downgraded WestRock from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Barclays increased their price target on WestRock from $60.00 to $64.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Bank of America increased their price target on WestRock from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, Citigroup increased their price target on WestRock from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. WestRock currently has an average rating of “Buy” and a consensus target price of $74.25.
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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