Cornerstone Capital Management Holdings LLC. lowered its position in WestRock Co (NYSE:WRK) by 46.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 60,972 shares of the basic materials company’s stock after selling 52,447 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in WestRock were worth $3,457,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware bought a new position in shares of WestRock in the second quarter valued at approximately $100,000. Sun Life Financial INC increased its position in shares of WestRock by 26,114.3% during the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after acquiring an additional 1,828 shares during the last quarter. Invictus RG purchased a new stake in shares of WestRock during the third quarter valued at approximately $108,000. Old Mutual Global Investors UK Ltd. purchased a new stake in shares of WestRock during the third quarter valued at approximately $130,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of WestRock by 25.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 509 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.
Shares of WestRock Co (NYSE:WRK) traded up $0.56 during midday trading on Monday, hitting $63.11. The stock had a trading volume of 5,030,200 shares, compared to its average volume of 1,469,540. The stock has a market capitalization of $16,068.69, a PE ratio of 24.09, a PEG ratio of 1.53 and a beta of 1.37. WestRock Co has a one year low of $49.23 and a one year high of $64.87. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.49.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were paid a dividend of $0.43 per share. This is a positive change from WestRock’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, November 9th. This represents a $1.72 annualized dividend and a yield of 2.73%. WestRock’s dividend payout ratio (DPR) is currently 62.09%.
In related news, insider Robert A. Feeser sold 29,972 shares of WestRock stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total transaction of $1,798,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Luke, Jr. sold 10,343 shares of WestRock stock in a transaction on Monday, September 25th. The shares were sold at an average price of $55.12, for a total value of $570,106.16. Following the sale, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $27,425,341.84. The disclosure for this sale can be found here. Insiders have sold 161,788 shares of company stock valued at $9,629,984 in the last three months. 2.68% of the stock is owned by corporate insiders.
A number of analysts recently commented on the company. BMO Capital Markets increased their price target on WestRock to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, December 12th. Deutsche Bank set a $70.00 price target on WestRock and gave the company a “buy” rating in a research report on Thursday. Stephens assumed coverage on WestRock in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 price target for the company. Zacks Investment Research downgraded WestRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, KeyCorp reissued a “hold” rating on shares of WestRock in a research report on Wednesday, October 11th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $66.09.
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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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