SG Americas Securities LLC trimmed its position in shares of WestRock Co (NYSE:WRK) by 68.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,440 shares of the basic materials company’s stock after selling 37,266 shares during the period. SG Americas Securities LLC’s holdings in WestRock were worth $989,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in WestRock by 1.9% during the second quarter. Vanguard Group Inc. now owns 26,211,606 shares of the basic materials company’s stock valued at $1,485,150,000 after acquiring an additional 484,771 shares during the period. BlackRock Inc. lifted its stake in shares of WestRock by 0.8% in the second quarter. BlackRock Inc. now owns 22,598,192 shares of the basic materials company’s stock valued at $1,280,411,000 after buying an additional 180,112 shares during the period. Boston Partners lifted its stake in shares of WestRock by 0.5% in the second quarter. Boston Partners now owns 9,097,512 shares of the basic materials company’s stock valued at $515,465,000 after buying an additional 48,092 shares during the period. American Century Companies Inc. lifted its stake in shares of WestRock by 7.0% in the third quarter. American Century Companies Inc. now owns 3,492,402 shares of the basic materials company’s stock valued at $198,124,000 after buying an additional 227,189 shares during the period. Finally, AJO LP lifted its stake in shares of WestRock by 13,639.1% in the second quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock valued at $157,637,000 after buying an additional 2,761,910 shares during the period. Institutional investors own 89.43% of the company’s stock.
Several research firms recently weighed in on WRK. Stephens began coverage on shares of WestRock in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $61.00 target price for the company. Barclays increased their target price on shares of WestRock from $54.00 to $58.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. BidaskClub upgraded shares of WestRock from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. KeyCorp reiterated a “hold” rating on shares of WestRock in a research note on Wednesday, October 11th. Finally, Zacks Investment Research cut shares of WestRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $65.09.
WestRock (NYSE:WRK) last announced its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06. The firm had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.13 billion. WestRock had a net margin of 4.77% and a return on equity of 6.73%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. analysts expect that WestRock Co will post 3.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Friday, November 10th were paid a dividend of $0.43 per share. This is a boost from WestRock’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.72 dividend on an annualized basis and a yield of 2.76%. WestRock’s dividend payout ratio (DPR) is currently 62.09%.
In other WestRock news, insider Robert A. Feeser sold 29,972 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $60.00, for a total transaction of $1,798,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $57.53, for a total transaction of $595,032.79. Following the transaction, the director now owns 497,557 shares of the company’s stock, valued at approximately $28,624,454.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 183,962 shares of company stock valued at $10,787,405. Corporate insiders own 2.68% of the company’s stock.
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WestRock Company Profile
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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