SG Americas Securities LLC increased its holdings in WestRock (NYSE:WRK – Get Rating) by 145.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,514 shares of the basic materials company’s stock after purchasing an additional 12,152 shares during the period. SG Americas Securities LLC’s holdings in WestRock were worth $634,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Czech National Bank purchased a new stake in shares of WestRock during the third quarter valued at about $913,000. Comerica Bank grew its stake in WestRock by 6.6% in the 3rd quarter. Comerica Bank now owns 52,530 shares of the basic materials company’s stock valued at $1,739,000 after acquiring an additional 3,253 shares during the period. Keybank National Association OH lifted its holdings in WestRock by 3.9% in the 3rd quarter. Keybank National Association OH now owns 22,902 shares of the basic materials company’s stock valued at $707,000 after purchasing an additional 870 shares in the last quarter. CWM LLC raised its holdings in shares of WestRock by 42.9% during the 3rd quarter. CWM LLC now owns 3,402 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 1,022 shares during the period. Finally, Investors Asset Management of Georgia Inc. GA ADV raised its holdings in shares of WestRock by 11.0% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 10,108 shares of the basic materials company’s stock worth $312,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 84.08% of the company’s stock.
Insider Transactions at WestRock
In other news, Director Currey M. Russell sold 55,000 shares of WestRock stock in a transaction on Monday, December 12th. The stock was sold at an average price of $36.51, for a total transaction of $2,008,050.00. Following the transaction, the director now owns 245,271 shares in the company, valued at $8,954,844.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.48% of the company’s stock.
Analyst Ratings Changes
WRK has been the subject of a number of analyst reports. StockNews.com downgraded WestRock from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft decreased their target price on WestRock from $45.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, October 18th. TheStreet cut WestRock from a “b-” rating to a “c+” rating in a research note on Friday, October 7th. Wells Fargo & Company boosted their target price on WestRock from $42.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, November 11th. Finally, Citigroup decreased their target price on WestRock from $39.00 to $37.00 in a research note on Wednesday, January 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, WestRock presently has an average rating of “Hold” and an average price target of $37.71.
WestRock Stock Up 1.9 %
WRK opened at $37.14 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 0.66. The firm has a market cap of $9.45 billion, a P/E ratio of 10.20, a PEG ratio of 0.93 and a beta of 1.14. WestRock has a 52 week low of $30.08 and a 52 week high of $54.78. The business’s fifty day simple moving average is $36.38 and its 200 day simple moving average is $37.10.
WestRock (NYSE:WRK – Get Rating) last released its quarterly earnings data on Thursday, November 10th. The basic materials company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.03. The company had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.44 billion. WestRock had a return on equity of 10.77% and a net margin of 4.44%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $1.23 EPS. As a group, equities research analysts anticipate that WestRock will post 3.81 EPS for the current fiscal year.
WestRock Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 23rd. Shareholders of record on Thursday, November 10th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $1.10 annualized dividend and a yield of 2.96%. This is an increase from WestRock’s previous quarterly dividend of $0.25. WestRock’s payout ratio is presently 30.22%.
WestRock Company Profile
WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates in four segments, Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.
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