Nisa Investment Advisors LLC Sells 6,345 Shares of WestRock (NYSE:WRK)

Nisa Investment Advisors LLC reduced its position in shares of WestRock (NYSE:WRK) by 12.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,877 shares of the basic materials company’s stock after selling 6,345 shares during the period. Nisa Investment Advisors LLC’s holdings in WestRock were worth $1,822,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of WestRock during the 3rd quarter worth $27,000. Ancora Advisors LLC acquired a new position in WestRock during the 1st quarter valued at $29,000. Gyon Technologies Capital Management LP acquired a new position in WestRock during the 4th quarter valued at $31,000. Financial Management Professionals Inc. raised its stake in WestRock by 1,815.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 881 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 835 shares during the last quarter. Finally, International Assets Investment Management LLC raised 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 valued at $33,000 after purchasing an additional 575 shares during the last quarter. 83.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Vicki L. Lostetter sold 3,500 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the completion of the sale, the insider now owns 92,117 shares in the company, valued at approximately $3,939,844.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is currently owned by corporate insiders.

WestRock Trading Down 2.3 %

Shares of WRK stock opened at $47.99 on Friday. The stock has a market cap of $12.31 billion, a price-to-earnings ratio of -7.14, a P/E/G ratio of 3.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.55. The firm has a fifty day moving average of $46.03 and a 200-day moving average of $41.55. WestRock has a 52-week low of $26.85 and a 52-week high of $49.67.

WestRock (NYSE:WRK) last announced its earnings results 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). The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.79 billion. WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 EPS. On average, equities research analysts forecast that WestRock will post 1.95 earnings per share for the current fiscal year.

WestRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were given a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, February 8th. WestRock’s dividend payout ratio (DPR) is currently -18.01%.

Wall Street Analysts Forecast Growth

WRK has been the subject of several research analyst reports. Seaport Res Ptn cut shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 target price on shares of WestRock in a research note on Friday, February 2nd. StockNews.com initiated coverage on shares of WestRock in a research note on Monday, April 8th. They issued a “hold” rating for the company. Truist Financial increased their price objective on shares of WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $45.00 price objective (up previously from $42.00) on shares of WestRock in a research note on Thursday, January 11th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $42.40.

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.