BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of WestRock Co (NYSE:WRK) by 35.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,302 shares of the basic materials company’s stock after purchasing an additional 38,684 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.06% of WestRock worth $7,979,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. CIBC World Markets Inc. lifted its holdings in shares of WestRock by 9.4% during the second quarter. CIBC World Markets Inc. now owns 10,969 shares of the basic materials company’s stock worth $625,000 after buying an additional 940 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of WestRock by 24.9% during the second quarter. Greenleaf Trust now owns 5,309 shares of the basic materials company’s stock worth $303,000 after buying an additional 1,059 shares in the last quarter. Standard Life Aberdeen plc lifted its holdings in shares of WestRock by 0.4% during the third quarter. Standard Life Aberdeen plc now owns 314,894 shares of the basic materials company’s stock worth $16,830,000 after buying an additional 1,146 shares in the last quarter. Commerce Bank lifted its holdings in shares of WestRock by 31.6% during the third quarter. Commerce Bank now owns 4,810 shares of the basic materials company’s stock worth $258,000 after buying an additional 1,156 shares in the last quarter. Finally, Canal Capital Management LLC lifted its holdings in shares of WestRock by 1.1% during the third quarter. Canal Capital Management LLC now owns 111,068 shares of the basic materials company’s stock worth $5,935,000 after buying an additional 1,181 shares in the last quarter. 83.98% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE WRK opened at $45.29 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 0.49. WestRock Co has a 52 week low of $39.21 and a 52 week high of $71.55. The firm has a market capitalization of $11.87 billion, a P/E ratio of 11.07, a P/E/G ratio of 1.64 and a beta of 1.61.
WestRock (NYSE:WRK) last issued its quarterly earnings results on Monday, November 5th. The basic materials company reported $1.29 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.05. WestRock had a return on equity of 9.26% and a net margin of 11.70%. The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.28 billion. During the same quarter last year, the business earned $0.87 earnings per share. WestRock’s revenue was up 4.3% on a year-over-year basis. As a group, equities analysts anticipate that WestRock Co will post 4.58 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Friday, November 9th were given a $0.455 dividend. The ex-dividend date was Thursday, November 8th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.02%. This is a boost from WestRock’s previous quarterly dividend of $0.43. WestRock’s dividend payout ratio (DPR) is presently 44.50%.
In related news, insider Robert A. Feeser sold 67,755 shares of the firm’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $46.91, for a total value of $3,178,387.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.68% of the stock is currently owned by company insiders.
A number of equities research analysts have recently weighed in on the company. TheStreet downgraded WestRock from a “b-” rating to a “c” rating in a report on Friday, October 26th. Seaport Global Securities assumed coverage on WestRock in a report on Tuesday, October 23rd. They set a “buy” rating and a $52.00 target price for the company. BMO Capital Markets downgraded WestRock from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $80.00 to $54.00 in a report on Tuesday, October 9th. Zacks Investment Research downgraded WestRock from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Finally, Goldman Sachs Group downgraded WestRock from a “conviction-buy” rating to a “buy” rating and set a $64.00 target price for the company. in a report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $64.50.
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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