First Trust Direct Indexing L.P. Acquires 705 Shares of WestRock (NYSE:WRK)

First Trust Direct Indexing L.P. lifted its stake in WestRock (NYSE:WRK) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,547 shares of the basic materials company’s stock after acquiring an additional 705 shares during the period. First Trust Direct Indexing L.P.’s holdings in WestRock were worth $355,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. NBC Securities Inc. bought a new position in shares of WestRock during the 3rd quarter worth about $27,000. International Assets Investment Management LLC grew its position in WestRock by 268.7% during the fourth 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. Clear Street Markets LLC increased its stake in WestRock by 198.5% during the third quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 665 shares during the period. Parkside Financial Bank & Trust raised its holdings in WestRock by 59.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 320 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of WestRock during the fourth quarter valued at approximately $55,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

WestRock Price Performance

NYSE:WRK opened at $51.40 on Tuesday. The firm has a market cap of $13.27 billion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 4.77 and a beta of 1.10. The company’s 50-day moving average price is $47.88 and its two-hundred day moving average price is $42.92. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.77. WestRock has a 12 month low of $26.85 and a 12 month high of $51.79.

WestRock (NYSE:WRK) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.25 by $0.14. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same period in the previous year, the business earned $0.77 EPS. WestRock’s revenue was down 10.4% compared to the same quarter last year. On average, equities analysts anticipate that WestRock will post 1.93 EPS for the current fiscal year.

WestRock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be paid a $0.3025 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.35%. WestRock’s dividend payout ratio (DPR) is presently 101.68%.

Insider Activity at WestRock

In other WestRock news, insider John L. O’neal sold 6,965 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.47, for a total transaction of $358,488.55. Following the sale, the insider now owns 60,491 shares of the company’s stock, valued at approximately $3,113,471.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Vicki L. Lostetter sold 3,500 shares of the business’s stock in a transaction on Monday, February 12th. The stock was 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 $3,939,844.09. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John L. O’neal sold 6,965 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.47, for a total value of $358,488.55. Following the completion of the transaction, the insider now owns 60,491 shares in the company, valued at approximately $3,113,471.77. The disclosure for this sale can be found here. Insiders sold 20,165 shares of company stock valued at $1,007,346 over the last ninety days. 0.49% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on WRK shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 target price on shares of WestRock in a research report on Friday, February 2nd. Argus lifted their target price on shares of WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company increased their price target on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday. Seaport Res Ptn downgraded WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Finally, StockNews.com started coverage on WestRock in a report on Thursday, May 2nd. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, WestRock currently has an average rating of “Hold” and a consensus price target of $47.00.

About WestRock

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.