Shell Asset Management Co. Lowers Stock Holdings in WestRock (NYSE:WRK)

Shell Asset Management Co. decreased its position in shares of WestRock (NYSE:WRKFree Report) by 34.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 31,365 shares of the basic materials company’s stock after selling 16,144 shares during the period. Shell Asset Management Co.’s holdings in WestRock were worth $1,302,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. OLD Point Trust & Financial Services N A purchased a new position in shares of WestRock during the 4th quarter valued at $35,000. Vinva Investment Management Ltd lifted its stake in shares of WestRock by 133.4% during the 4th quarter. Vinva Investment Management Ltd now owns 62,872 shares of the basic materials company’s stock valued at $2,648,000 after buying an additional 35,933 shares in the last quarter. Aristides Capital LLC purchased a new stake in WestRock in the 4th quarter worth $201,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its stake in WestRock by 442.5% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 253,245 shares of the basic materials company’s stock worth $10,515,000 after purchasing an additional 206,565 shares in the last quarter. Finally, Cibc World Markets Corp lifted its stake in WestRock by 133.3% in the 4th quarter. Cibc World Markets Corp now owns 33,002 shares of the basic materials company’s stock worth $1,370,000 after purchasing an additional 18,857 shares in the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com assumed coverage on shares of WestRock in a research note on Saturday, May 18th. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their price target on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Truist Financial boosted their price target on shares of WestRock from $51.00 to $57.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Finally, Argus boosted their price target on shares of WestRock from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $48.80.

Read Our Latest Analysis on WRK

Insider Transactions at WestRock

In related news, EVP Denise R. Singleton sold 9,700 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.46, for a total transaction of $499,162.00. Following the transaction, the executive vice president now directly owns 74,946 shares in the company, valued at approximately $3,856,721.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider John L. O’neal sold 6,965 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.47, for a total transaction of $358,488.55. Following the transaction, the insider now directly owns 60,491 shares in the company, valued at approximately $3,113,471.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Denise R. Singleton sold 9,700 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.46, for a total transaction of $499,162.00. Following the transaction, the executive vice president now owns 74,946 shares in the company, valued at $3,856,721.16. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

WestRock Stock Performance

WestRock stock opened at $50.50 on Tuesday. The company’s 50-day moving average price is $50.63 and its 200-day moving average price is $45.75. WestRock has a twelve month low of $27.12 and a twelve month high of $54.83. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.77. The company has a market cap of $12.98 billion, a PE ratio of 42.44, a price-to-earnings-growth ratio of 3.29 and a beta of 1.08.

WestRock (NYSE:WRKGet Free Report) last posted its earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the previous year, the firm posted $0.77 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis. On average, equities research analysts forecast that WestRock will post 2.11 EPS for the current fiscal year.

WestRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th were issued a $0.3025 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.40%. WestRock’s dividend payout ratio (DPR) is presently 101.68%.

WestRock Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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