Canada Pension Plan Investment Board boosted its position in shares of WestRock Co (NYSE:WRK) by 4,347.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,121 shares of the basic materials company’s stock after acquiring an additional 152,611 shares during the quarter. Canada Pension Plan Investment Board owned 0.06% of WestRock worth $8,343,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Piedmont Investment Advisors LLC purchased a new position in WestRock during the 2nd quarter valued at about $171,000. Cerebellum GP LLC purchased a new position in WestRock during the 3rd quarter valued at about $182,000. Exane Asset Management purchased a new position in WestRock during the 2nd quarter valued at about $201,000. Charter Trust Co. purchased a new position in WestRock during the 2nd quarter valued at about $203,000. Finally, ING Groep NV purchased a new position in WestRock during the 2nd quarter valued at about $240,000. Institutional investors own 83.98% of the company’s stock.
Shares of WRK opened at $45.29 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.44 and a quick ratio of 0.89. The stock has a market capitalization of $11.87 billion, a PE ratio of 11.07, a P/E/G ratio of 1.64 and a beta of 1.61. WestRock Co has a 1 year low of $39.21 and a 1 year high of $71.55.
WestRock (NYSE:WRK) last announced its quarterly earnings data on Monday, November 5th. The basic materials company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. The business had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.28 billion. WestRock had a return on equity of 9.26% and a net margin of 11.70%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 EPS. As a group, sell-side analysts expect that WestRock Co will post 4.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Stockholders of record on Friday, November 9th were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Thursday, November 8th. This is a boost from WestRock’s previous quarterly dividend of $0.43. WestRock’s dividend payout ratio (DPR) is presently 44.50%.
In other news, insider Robert A. Feeser sold 67,755 shares of WestRock stock in a transaction dated 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.68% of the company’s stock.
WRK has been the subject of several recent research reports. Wells Fargo & Co decreased their price objective on WestRock from $53.00 to $50.00 and set a “market perform” rating for the company in a research note on Tuesday, November 6th. Bank of America initiated coverage on WestRock in a research note on Tuesday, October 23rd. They issued a “buy” rating for the company. Zacks Investment Research reiterated a “hold” rating on shares of WestRock in a research note on Saturday, November 17th. Deutsche Bank set a $58.00 price objective on WestRock and gave the company a “buy” rating in a research note on Tuesday, November 6th. Finally, Seaport Global Securities initiated coverage on WestRock in a research note on Tuesday, October 23rd. They issued a “buy” rating and a $52.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $64.50.
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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