Daiwa Securities Group Inc. Boosts Stock Position in WestRock (NYSE:WRK)

Daiwa Securities Group Inc. increased its stake in shares of WestRock (NYSE:WRK) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,710 shares of the basic materials company’s stock after purchasing an additional 1,421 shares during the quarter. Daiwa Securities Group Inc.’s holdings in WestRock were worth $984,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in WestRock during the 3rd quarter worth about $27,000. International Assets Investment Management LLC increased its position 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 purchasing an additional 575 shares in the last quarter. Clear Street Markets LLC increased its position in WestRock by 198.5% during the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 665 shares in the last quarter. CVA Family Office LLC purchased a new stake in WestRock during the 4th quarter worth about $60,000. Finally, Baystate Wealth Management LLC increased its position in WestRock by 42.3% during the 4th quarter. Baystate Wealth Management LLC now owns 1,700 shares of the basic materials company’s stock worth $71,000 after purchasing an additional 505 shares in the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on WRK shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 price objective on shares of WestRock in a research report on Friday, February 2nd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $45.00 price objective (up previously from $42.00) on shares of WestRock in a research note on Thursday, January 11th. StockNews.com started coverage on shares of WestRock in a research note on Wednesday. They set a “hold” rating for the company. Seaport Res Ptn downgraded shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, Truist Financial upped 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. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.00.

Insider Buying and Selling

In related news, insider Vicki L. Lostetter sold 3,500 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,939,844.09. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.49% of the company’s stock.

WestRock Trading Up 0.8 %

WRK opened at $47.49 on Thursday. The firm has a 50 day moving average price of $46.94 and a 200 day moving average price of $42.16. WestRock has a 1 year low of $26.85 and a 1 year high of $49.67. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.55 and a quick ratio of 0.95.

WestRock (NYSE:WRK) last posted 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 business 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 firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the company posted $0.55 EPS. Analysts forecast that WestRock will post 1.93 EPS for the current year.

WestRock Dividend Announcement

The firm 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 yield of 2.55%. The ex-dividend date was Thursday, February 8th. WestRock’s dividend payout ratio (DPR) is presently -18.01%.

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.