First Trust Advisors LP raised its stake in shares of WestRock Co (NYSE:WRK) by 50.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 396,276 shares of the basic materials company’s stock after purchasing an additional 132,955 shares during the period. First Trust Advisors LP’s holdings in WestRock were worth $25,049,000 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. Invictus RG bought a new position in shares of WestRock during the 3rd quarter valued at about $108,000. Old Mutual Global Investors UK Ltd. bought a new position in shares of WestRock during the 3rd quarter valued at about $130,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of WestRock during the 3rd quarter valued at about $147,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of WestRock by 3,666.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,013 shares of the basic materials company’s stock valued at $190,000 after purchasing an additional 2,933 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in shares of WestRock during the 3rd quarter valued at about $216,000. 86.98% of the stock is owned by institutional investors and hedge funds.
WestRock Co (WRK) opened at $65.28 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.74. WestRock Co has a 1-year low of $49.23 and a 1-year high of $71.55. The company has a market cap of $16,650.00 and a PE ratio of 9.59.
The firm also recently declared a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Friday, February 16th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Thursday, February 15th. WestRock’s payout ratio is 25.26%.
In related news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $58.58, for a total value of $605,892.94. Following the sale, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $29,146,889.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Luke, Jr. sold 50,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $65.56, for a total transaction of $3,278,000.00. Following the completion of the sale, the director now directly owns 545,435 shares in the company, valued at $35,758,718.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 403,205 shares of company stock valued at $26,082,139. 2.68% of the stock is owned by insiders.
Several research firms have commented on WRK. Barclays increased their price objective on shares of WestRock from $60.00 to $64.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. ValuEngine raised shares of WestRock from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Zacks Investment Research raised shares of WestRock from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Saturday, February 3rd. Bank of America increased their price objective on shares of WestRock from $73.00 to $76.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, Citigroup increased their price objective on shares of WestRock from $80.00 to $83.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $74.25.
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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