State of Alaska Department of Revenue cut its holdings in shares of Westrock Co (NYSE:WRK) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,650 shares of the basic materials company’s stock after selling 2,008 shares during the period. State of Alaska Department of Revenue’s holdings in Westrock were worth $2,025,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. TLP Group LLC raised its stake in shares of Westrock by 321.9% during the 3rd quarter. TLP Group LLC now owns 3,223 shares of the basic materials company’s stock worth $172,000 after buying an additional 2,459 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Westrock during the 3rd quarter worth about $182,000. Gagnon Securities LLC purchased a new stake in Westrock during the 3rd quarter worth about $190,000. Exane Asset Management purchased a new stake in Westrock during the 2nd quarter worth about $201,000. Finally, HBK Sorce Advisory LLC purchased a new stake in Westrock during the 3rd quarter worth about $201,000. Institutional investors and hedge funds own 83.74% of the company’s stock.
Shares of NYSE:WRK traded down $0.09 during trading on Friday, reaching $37.81. 2,557,697 shares of the stock were exchanged, compared to its average volume of 2,856,602. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.84 and a current ratio of 1.40. Westrock Co has a 12-month low of $35.20 and a 12-month high of $67.96. The stock has a market capitalization of $9.67 billion, a P/E ratio of 9.24, a PEG ratio of 1.58 and a beta of 1.66.
Westrock (NYSE:WRK) last released its quarterly earnings results on Thursday, January 31st. The basic materials company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.58 billion. Westrock had a return on equity of 9.12% and a net margin of 5.44%. Analysts predict that Westrock Co will post 4.22 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 25th. Investors of record on Friday, February 15th will be given a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Thursday, February 14th. Westrock’s dividend payout ratio (DPR) is presently 44.50%.
A number of analysts recently commented on the company. Zacks Investment Research reiterated a “hold” rating on shares of Westrock in a research report on Saturday, November 17th. TheStreet cut Westrock from a “b-” rating to a “c” rating in a report on Friday, October 26th. ValuEngine cut Westrock from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 2nd. Wells Fargo & Co lowered their price target on Westrock from $53.00 to $50.00 and set a “market perform” rating for the company in a report on Tuesday, November 6th. Finally, Deutsche Bank set a $58.00 price target on Westrock and gave the company a “buy” rating in a report on Tuesday, November 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $54.33.
In other Westrock news, CFO Ward H. Dickson bought 2,645 shares of the business’s stock in a transaction on Monday, February 4th. The shares were bought at an average cost of $37.94 per share, with a total value of $100,351.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert A. Feeser sold 67,755 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $46.91, for a total value of $3,178,387.05. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
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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