Arnhold LLC Reduces Stock Holdings in WestRock (NYSE:WRK)

Arnhold LLC reduced its position in WestRock (NYSE:WRK) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 270,685 shares of the basic materials company’s stock after selling 427 shares during the quarter. Arnhold LLC owned approximately 0.11% of WestRock worth $11,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in WestRock by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,954,114 shares of the basic materials company’s stock valued at $105,757,000 after acquiring an additional 74,185 shares during the period. Northern Trust Corp lifted its holdings in WestRock by 11.4% during the 3rd quarter. Northern Trust Corp now owns 2,696,898 shares of the basic materials company’s stock worth $96,549,000 after purchasing an additional 275,033 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in WestRock by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,552,490 shares of the basic materials company’s stock worth $91,379,000 after purchasing an additional 78,818 shares during the period. FMR LLC grew its holdings in WestRock by 140.3% during the 3rd quarter. FMR LLC now owns 2,173,923 shares of the basic materials company’s stock valued at $77,826,000 after buying an additional 1,269,375 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of WestRock by 70.4% during the third quarter. Deutsche Bank AG now owns 1,825,189 shares of the basic materials company’s stock valued at $65,342,000 after buying an additional 753,828 shares during the period. 83.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WRK has been the topic of a number of analyst reports. StockNews.com began coverage on shares of WestRock in a report on Wednesday, April 24th. They set a “hold” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 target price on shares of WestRock in a research note on Friday, February 2nd. Wells Fargo & Company reiterated an “equal weight” rating and set a $45.00 price target (up previously from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Seaport Res Ptn cut shares of WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, Truist Financial lifted their target price on shares of WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $43.00.

WestRock Price Performance

Shares of WRK stock traded down $0.56 during trading hours on Tuesday, hitting $47.98. 1,700,770 shares of the company’s stock were exchanged, compared to its average volume of 2,105,959. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. WestRock has a 12-month low of $26.85 and a 12-month high of $49.67. The business’s 50 day simple moving average is $47.27 and its 200-day simple moving average is $42.46. The company has a market capitalization of $12.39 billion, a PE ratio of -7.14, a PEG ratio of 4.41 and a beta of 1.10.

WestRock (NYSE:WRK) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.79 billion. During the same period last year, the business posted $0.55 earnings per share. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that WestRock will post 1.93 earnings per share for the current year.

WestRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th will be given a $0.3025 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.21 annualized dividend and a yield of 2.52%. WestRock’s payout ratio is currently -18.01%.

Insider Activity

In related news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total value of $149,695.00. Following the transaction, the insider now directly owns 92,117 shares of the company’s stock, valued at $3,939,844.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.49% of the company’s stock.

WestRock Company Profile

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.