Oak Thistle LLC Purchases New Position in WestRock (NYSE:WRK)

Oak Thistle LLC purchased a new stake in WestRock (NYSE:WRKFree Report) during the 4th quarter, Holdings Channel.com reports. The fund purchased 20,142 shares of the basic materials company’s stock, valued at approximately $836,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in shares of WestRock by 14.2% in the 3rd quarter. Fifth Third Bancorp now owns 9,433 shares of the basic materials company’s stock valued at $338,000 after buying an additional 1,174 shares during the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in shares of WestRock during the fourth quarter worth about $4,584,000. Deutsche Bank AG lifted its holdings in shares of WestRock by 70.4% in the 3rd quarter. Deutsche Bank AG now owns 1,825,189 shares of the basic materials company’s stock valued at $65,342,000 after purchasing an additional 753,828 shares during the last quarter. National Bank of Canada FI boosted its position in shares of WestRock by 635.3% in the 3rd quarter. National Bank of Canada FI now owns 657,681 shares of the basic materials company’s stock valued at $23,406,000 after purchasing an additional 568,232 shares during the period. Finally, Salem Investment Counselors Inc. grew its stake in WestRock by 37.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 600,682 shares of the basic materials company’s stock worth $24,940,000 after buying an additional 165,120 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

WestRock Price Performance

NYSE:WRK opened at $49.28 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average price is $44.75 and its 200 day moving average price is $40.85. WestRock has a 1-year low of $26.85 and a 1-year high of $49.67.

WestRock (NYSE:WRKGet Free Report) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.15). The firm had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.79 billion. WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The firm’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. Sell-side analysts anticipate that WestRock will post 1.95 earnings per share for the current fiscal year.

WestRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Friday, February 9th were paid a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Thursday, February 8th. WestRock’s dividend payout ratio (DPR) is -18.01%.

Insiders Place Their Bets

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the completion of the transaction, the insider now owns 92,117 shares in the company, valued at $3,939,844.09. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.49% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WRK shares. StockNews.com began coverage on WestRock in a research note on Sunday. They issued a “hold” rating for the company. Truist Financial increased their price target on shares of WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 price objective on shares of WestRock in a research note on Friday, February 2nd. Wells Fargo & Company reiterated an “equal weight” rating and set a $45.00 target price (up previously from $42.00) on shares of WestRock in a research note on Thursday, January 11th. Finally, Seaport Res Ptn lowered WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, WestRock has an average rating of “Hold” and an average target price of $42.40.

Check Out Our Latest Research Report on WestRock

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.

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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