WestRock (NYSE:WRK) Sets New 12-Month High at $52.13

WestRock (NYSE:WRK)’s stock price reached a new 52-week high on Thursday . The company traded as high as $52.13 and last traded at $51.90, with a volume of 2158553 shares. The stock had previously closed at $51.81.

Analyst Ratings Changes

WRK has been the topic of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 target price on shares of WestRock in a research report on Friday, February 2nd. StockNews.com initiated coverage on shares of WestRock in a report on Thursday, May 2nd. They set a “hold” rating on the stock. Argus upped their price objective on WestRock from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company lifted their price objective on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, WestRock currently has a consensus rating of “Hold” and an average target price of $47.60.

WestRock Trading Down 0.2 %

The firm has a market cap of $13.29 billion, a PE ratio of 43.45, a PEG ratio of 4.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.34 and a quick ratio of 0.85. The stock’s fifty day simple moving average is $48.16 and its 200-day simple moving average is $43.11.

WestRock (NYSE:WRK) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The company had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The firm’s revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that WestRock will post 1.93 earnings per share for the current year.

WestRock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be issued a $0.3025 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.21 annualized dividend and a yield of 2.34%. WestRock’s dividend payout ratio (DPR) is presently 101.68%.

Insider Activity

In other news, EVP Denise R. Singleton sold 9,700 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $51.46, for a total value of $499,162.00. Following the sale, the executive vice president now owns 74,946 shares in the company, valued at $3,856,721.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Denise R. Singleton sold 9,700 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.46, for a total transaction of $499,162.00. Following the sale, the executive vice president now directly owns 74,946 shares of the company’s stock, valued at approximately $3,856,721.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.77, for a total value of $149,695.00. Following the sale, the insider now owns 92,117 shares in the company, valued at $3,939,844.09. The disclosure for this sale can be found here. Insiders have sold 20,165 shares of company stock valued at $1,007,346 in the last ninety days. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On WestRock

A number of institutional investors have recently added to or reduced their stakes in the stock. NBC Securities Inc. purchased a new stake in shares of WestRock during the third quarter worth about $27,000. International Assets Investment Management LLC increased its stake in WestRock by 268.7% during the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after buying an additional 575 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of WestRock in the fourth quarter valued at approximately $35,000. Clear Street Markets LLC boosted its stake in shares of WestRock by 198.5% in the third quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 665 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of WestRock by 59.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 320 shares in the last quarter. Institutional investors and hedge funds own 83.38% 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.