Swiss National Bank boosted its stake in shares of WestRock Co (NYSE:WRK) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 935,604 shares of the basic materials company’s stock after acquiring an additional 11,200 shares during the quarter. Swiss National Bank owned about 0.37% of WestRock worth $59,140,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of WRK. Invictus RG purchased a new position in WestRock during the third quarter worth $108,000. Old Mutual Global Investors UK Ltd. purchased a new position in WestRock during the third quarter worth $130,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of WestRock in the third quarter valued at $147,000. Steward Partners Investment Advisory LLC grew its position in shares of WestRock by 3,666.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,013 shares of the basic materials company’s stock valued at $190,000 after purchasing an additional 2,933 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of WestRock in the fourth quarter valued at $239,000. 86.98% of the stock is owned by institutional investors.
In other news, Director John A. Luke, Jr. sold 50,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $65.56, for a total value of $3,278,000.00. Following the transaction, the director now directly owns 545,435 shares of the company’s stock, valued at $35,758,718.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jennifer Graham-Johnson sold 7,700 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $59.23, for a total transaction of $456,071.00. The disclosure for this sale can be found here. Insiders have sold a total of 403,205 shares of company stock valued at $26,082,139 in the last quarter. Insiders own 2.68% of the company’s stock.
WestRock (NYSE:WRK) last released its earnings results on Monday, January 29th. The basic materials company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.12. The firm 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%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. equities research analysts forecast that WestRock Co will post 3.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Friday, February 16th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, February 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.62%. WestRock’s dividend payout ratio (DPR) is presently 25.26%.
A number of brokerages have recently commented on WRK. Barclays lifted their price objective on WestRock from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. ValuEngine upgraded WestRock from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Zacks Investment Research upgraded WestRock from a “hold” rating to a “buy” rating and set a $76.00 price objective on the stock in a research note on Saturday, February 3rd. Bank of America boosted their price objective on WestRock from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Finally, Citigroup boosted their price objective on WestRock from $80.00 to $83.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $74.25.
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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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