WestRock Co (WRK) Position Trimmed by American International Group Inc.

American International Group Inc. decreased its position in shares of WestRock Co (NYSE:WRK) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 90,368 shares of the basic materials company’s stock after selling 13,230 shares during the quarter. American International Group Inc.’s holdings in WestRock were worth $5,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norinchukin Bank The raised its stake in WestRock by 0.3% during the second quarter. Norinchukin Bank The now owns 20,926 shares of the basic materials company’s stock worth $1,186,000 after acquiring an additional 54 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in WestRock by 1.4% during the second quarter. Wetherby Asset Management Inc. now owns 4,495 shares of the basic materials company’s stock worth $255,000 after acquiring an additional 60 shares in the last quarter. Keybank National Association OH raised its stake in WestRock by 0.5% during the second quarter. Keybank National Association OH now owns 22,676 shares of the basic materials company’s stock worth $1,285,000 after acquiring an additional 102 shares in the last quarter. Van ECK Associates Corp raised its stake in WestRock by 1.8% during the second quarter. Van ECK Associates Corp now owns 6,139 shares of the basic materials company’s stock worth $348,000 after acquiring an additional 108 shares in the last quarter. Finally, ETRADE Capital Management LLC raised its stake in WestRock by 4.7% during the second quarter. ETRADE Capital Management LLC now owns 5,001 shares of the basic materials company’s stock worth $283,000 after acquiring an additional 224 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have commented on WRK. Barclays reissued a “hold” rating on shares of WestRock in a research note on Friday, November 10th. Zacks Investment Research downgraded WestRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 7th. DA Davidson reissued a “buy” rating and set a $74.00 target price on shares of WestRock in a research note on Friday, November 3rd. Stephens began coverage on WestRock in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 target price for the company. Finally, KeyCorp reaffirmed a “hold” rating on shares of WestRock in a research note on Wednesday, October 11th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $65.09.

WestRock Co (WRK) traded up $1.07 during trading on Tuesday, hitting $63.47. The stock had a trading volume of 1,747,800 shares, compared to its average volume of 1,447,774. WestRock Co has a one year low of $49.23 and a one year high of $63.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.49 and a quick ratio of 0.89. The firm has a market capitalization of $16,090.00 and a P/E ratio of 23.82.

WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.06. WestRock had a return on equity of 6.73% and a net margin of 4.77%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. equities research analysts predict that WestRock Co will post 3.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Friday, November 10th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Thursday, November 9th. This is an increase from WestRock’s previous quarterly dividend of $0.40. WestRock’s dividend payout ratio is currently 62.09%.

In other WestRock news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $62.97, for a total transaction of $651,298.71. Following the completion of the sale, the director now owns 497,557 shares of the company’s stock, valued at approximately $31,331,164.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Wayne Chalovich sold 18,368 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the sale, the insider now directly owns 24,859 shares of the company’s stock, valued at approximately $1,452,014.19. The disclosure for this sale can be found here. Insiders have sold a total of 183,962 shares of company stock valued at $10,843,671 in the last three months. Insiders own 2.68% of the company’s stock.

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WestRock 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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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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