International Assets Investment Management LLC Increases Stock Position in WestRock (NYSE:WRK)

International Assets Investment Management LLC boosted its holdings in WestRock (NYSE:WRK) by 268.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 789 shares of the basic materials company’s stock after buying an additional 575 shares during the period. International Assets Investment Management LLC’s holdings in WestRock were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of WRK. 626 Financial LLC raised its stake in shares of WestRock by 1.4% during the 4th quarter. 626 Financial LLC now owns 18,972 shares of the basic materials company’s stock valued at $788,000 after purchasing an additional 265 shares during the period. Van ECK Associates Corp increased its position in shares of WestRock by 2.4% during the third quarter. Van ECK Associates Corp now owns 12,143 shares of the basic materials company’s stock valued at $435,000 after buying an additional 289 shares during the period. Wahed Invest LLC lifted its holdings in shares of WestRock by 9.0% in the third quarter. Wahed Invest LLC now owns 3,973 shares of the basic materials company’s stock worth $142,000 after buying an additional 327 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of WestRock by 0.4% in the third quarter. Asset Management One Co. Ltd. now owns 99,815 shares of the basic materials company’s stock valued at $3,573,000 after acquiring an additional 350 shares during the period. Finally, Arizona State Retirement System grew its stake in WestRock by 0.5% during the third quarter. Arizona State Retirement System now owns 69,877 shares of the basic materials company’s stock valued at $2,502,000 after acquiring an additional 380 shares in the last quarter. Institutional investors own 83.38% of the company’s stock.

WestRock Price Performance

Shares of WestRock stock opened at $47.90 on Thursday. The firm has a market capitalization of $12.37 billion, a PE ratio of -7.13, a price-to-earnings-growth ratio of 4.53 and a beta of 1.10. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. WestRock has a 12 month low of $26.85 and a 12 month high of $49.67. The business’s 50-day moving average price is $47.44 and its 200-day moving average price is $42.57.

WestRock (NYSE:WRK) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.15). WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same period last year, the business posted $0.55 earnings per share. The company’s revenue was down 6.2% compared to the same quarter last year. Sell-side analysts forecast that WestRock will post 1.93 EPS for the current fiscal year.

WestRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th will be paid a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, May 13th. WestRock’s dividend payout ratio is presently -18.01%.

Insider Buying and Selling at WestRock

In other news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.77, for a total value of $149,695.00. Following the transaction, the insider now owns 92,117 shares in the company, valued at $3,939,844.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on WRK shares. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 price target on shares of WestRock in a research report on Friday, February 2nd. Seaport Res Ptn cut WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Wells Fargo & Company reissued an “equal weight” rating and set a $45.00 price objective (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. Truist Financial raised their target price on shares of WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, StockNews.com initiated coverage on shares of WestRock in a research report on Wednesday, April 24th. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $43.00.

WestRock 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 through 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.