Advisor Group Inc. raised its stake in shares of Westrock Co (NYSE:WRK) by 11.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 28,512 shares of the basic materials company’s stock after purchasing an additional 2,926 shares during the period. Advisor Group Inc.’s holdings in Westrock were worth $1,094,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Morgan Stanley raised its stake in shares of Westrock by 18.3% in the 3rd quarter. Morgan Stanley now owns 821,256 shares of the basic materials company’s stock valued at $43,888,000 after purchasing an additional 126,913 shares during the period. TD Asset Management Inc. increased its position in shares of Westrock by 2.3% in the fourth quarter. TD Asset Management Inc. now owns 94,177 shares of the basic materials company’s stock valued at $3,556,000 after acquiring an additional 2,109 shares during the last quarter. Pinnacle Associates Ltd. increased its position in shares of Westrock by 1.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 76,330 shares of the basic materials company’s stock valued at $2,882,000 after acquiring an additional 947 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Westrock by 28.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 18,167 shares of the basic materials company’s stock valued at $686,000 after acquiring an additional 4,075 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Westrock by 64.5% in the fourth quarter. Parallel Advisors LLC now owns 719 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 282 shares during the last quarter. 83.38% of the stock is owned by institutional investors and hedge funds.
NYSE:WRK opened at $36.30 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.77 and a current ratio of 1.29. The stock has a market capitalization of $9.32 billion, a P/E ratio of 8.88, a P/E/G ratio of 2.00 and a beta of 1.61. Westrock Co has a 52-week low of $32.01 and a 52-week high of $61.65.
Westrock (NYSE:WRK) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.17. Westrock had a return on equity of 9.03% and a net margin of 4.89%. The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.67 billion. During the same quarter last year, the company posted $0.83 earnings per share. Westrock’s quarterly revenue was up 15.0% on a year-over-year basis. On average, analysts anticipate that Westrock Co will post 4.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 10th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend was Thursday, May 9th. Westrock’s payout ratio is currently 44.50%.
A number of analysts recently issued reports on WRK shares. Deutsche Bank downgraded Westrock from a “buy” rating to a “hold” rating and lowered their target price for the company from $51.00 to $42.00 in a research report on Wednesday, April 17th. KeyCorp reaffirmed a “hold” rating on shares of Westrock in a research report on Wednesday, May 1st. Finally, UBS Group started coverage on Westrock in a research report on Wednesday, May 15th. They issued a “buy” rating and a $47.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. Westrock has a consensus rating of “Hold” and an average price target of $49.56.
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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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