Mitsubishi UFJ Asset Management Co. Ltd. Lowers Stock Holdings in WestRock (NYSE:WRK)

Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in WestRock (NYSE:WRKFree Report) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,320 shares of the basic materials company’s stock after selling 12,676 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of WestRock worth $9,625,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in WestRock in the third quarter worth $27,000. International Assets Investment Management LLC raised its position in shares of WestRock by 268.7% in the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 575 shares during the last quarter. Clear Street Markets LLC raised its position in shares of WestRock by 198.5% in the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 665 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in WestRock by 59.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 320 shares in the last quarter. Finally, First United Bank & Trust purchased a new stake in WestRock during the 4th quarter valued at about $43,000. Institutional investors own 83.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WRK shares. StockNews.com initiated coverage on shares of WestRock in a research note on Saturday. They issued a “hold” rating on the stock. Wells Fargo & Company increased their target price on WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. Seaport Res Ptn cut WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, Truist Financial boosted their target price on WestRock from $42.00 to $51.00 and gave the stock a “hold” rating in a research report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.60.

View Our Latest Analysis on WestRock

Insider Activity at WestRock

In other WestRock news, insider John L. O’neal sold 6,965 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.47, for a total value of $358,488.55. Following the transaction, the insider now directly owns 60,491 shares in the company, valued at $3,113,471.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Denise R. Singleton sold 9,700 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.46, for a total transaction of $499,162.00. Following the completion of 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 filing with the SEC, which is available at this hyperlink. Also, insider John L. O’neal sold 6,965 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the sale, the insider now directly owns 60,491 shares of the company’s stock, valued at $3,113,471.77. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.

WestRock Trading Up 1.1 %

NYSE:WRK opened at $52.94 on Friday. The company has a 50 day simple moving average of $49.13 and a two-hundred day simple moving average of $43.94. The company has a market cap of $13.61 billion, a PE ratio of 44.49, a price-to-earnings-growth ratio of 4.51 and a beta of 1.10. The company has a current ratio of 1.34, a quick ratio of 0.85 and a debt-to-equity ratio of 0.77. WestRock has a 12 month low of $27.01 and a 12 month high of $52.98.

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

WestRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Monday, May 13th. WestRock’s payout ratio is 101.68%.

About WestRock

(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.

Featured Stories

Institutional Ownership by Quarter for WestRock (NYSE:WRK)

Receive News & Ratings for WestRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WestRock and related companies with MarketBeat.com's FREE daily email newsletter.