Arizona State Retirement System boosted its stake in shares of WestRock Co (NYSE:WRK) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 119,712 shares of the basic materials company’s stock after acquiring an additional 7,832 shares during the quarter. Arizona State Retirement System’s holdings in WestRock were worth $7,567,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. First Allied Advisory Services Inc. grew its holdings in WestRock by 21.8% during the 4th quarter. First Allied Advisory Services Inc. now owns 5,484 shares of the basic materials company’s stock worth $345,000 after acquiring an additional 983 shares during the last quarter. MUFG Americas Holdings Corp grew its holdings in WestRock by 14.6% during the 4th quarter. MUFG Americas Holdings Corp now owns 9,792 shares of the basic materials company’s stock worth $619,000 after acquiring an additional 1,245 shares during the last quarter. Toronto Dominion Bank grew its holdings in WestRock by 13.9% during the 4th quarter. Toronto Dominion Bank now owns 109,639 shares of the basic materials company’s stock worth $6,930,000 after acquiring an additional 13,389 shares during the last quarter. First Trust Advisors LP grew its holdings in WestRock by 50.5% during the 4th quarter. First Trust Advisors LP now owns 396,276 shares of the basic materials company’s stock worth $25,049,000 after acquiring an additional 132,955 shares during the last quarter. Finally, Hosking Partners LLP grew its holdings in WestRock by 7.2% during the 4th quarter. Hosking Partners LLP now owns 138,453 shares of the basic materials company’s stock worth $8,752,000 after acquiring an additional 9,292 shares during the last quarter. 86.98% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on WRK shares. Stephens started coverage on shares of WestRock in a report on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 price objective on the stock. DA Davidson reissued a “buy” rating and set a $74.00 price objective on shares of WestRock in a report on Friday, November 3rd. Barclays increased their price objective on shares of WestRock from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, November 6th. Zacks Investment Research lowered shares of WestRock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 7th. Finally, BMO Capital Markets increased their price objective on shares of WestRock to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. WestRock presently has a consensus rating of “Buy” and an average price target of $74.25.
WestRock (NYSE:WRK) last issued its earnings results on Monday, January 29th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.12. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.95 billion. WestRock had a net margin of 11.51% and a return on equity of 7.45%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS. sell-side analysts expect that WestRock Co will post 3.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Stockholders of record on Friday, February 16th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Thursday, February 15th. WestRock’s dividend payout ratio (DPR) is presently 25.18%.
In other news, insider James B. Porter sold 14,930 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $70.00, for a total value of $1,045,100.00. Following the transaction, the insider now owns 50,093 shares of the company’s stock, valued at approximately $3,506,510. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $58.58, for a total transaction of $605,892.94. Following the completion of the transaction, the director now directly owns 497,557 shares in the company, valued at approximately $29,146,889.06. The disclosure for this sale can be found here. Insiders sold a total of 353,205 shares of company stock worth $22,804,139 in the last ninety days. Insiders own 2.20% of the company’s stock.
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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