Russell Investments Group Ltd. Increases Stake in WestRock (NYSE:WRK)

Russell Investments Group Ltd. boosted its position in shares of WestRock (NYSE:WRK) by 16.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 200,043 shares of the basic materials company’s stock after purchasing an additional 28,395 shares during the quarter. Russell Investments Group Ltd.’s holdings in WestRock were worth $8,335,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pentwater Capital Management LP purchased a new stake in shares of WestRock during the 3rd quarter valued at about $61,378,000. Segantii Capital Management Ltd bought a new position in shares of WestRock in the 3rd quarter worth approximately $59,428,000. Assenagon Asset Management S.A. lifted its stake in shares of WestRock by 6,024.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,290,708 shares of the basic materials company’s stock worth $46,207,000 after purchasing an additional 1,269,632 shares during the period. FMR LLC lifted its stake in shares of WestRock by 140.3% in the 3rd quarter. FMR LLC now owns 2,173,923 shares of the basic materials company’s stock worth $77,826,000 after purchasing an additional 1,269,375 shares during the period. Finally, Westchester Capital Management LLC bought a new position in shares of WestRock in the 3rd quarter worth approximately $27,593,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

WestRock Price Performance

NYSE WRK opened at $51.40 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 0.85 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. The company’s 50 day moving average is $47.88 and its two-hundred day moving average is $42.92. The stock has a market cap of $13.27 billion, a price-to-earnings ratio of 43.19, a PEG ratio of 4.77 and a beta of 1.10.

WestRock (NYSE:WRK) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The business had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same period last year, the firm posted $0.77 EPS. The company’s revenue was down 10.4% on a year-over-year basis. As a group, research analysts anticipate that WestRock will post 1.93 earnings per share for the current year.

WestRock Dividend Announcement

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 issued a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Monday, May 13th. WestRock’s dividend payout ratio (DPR) is currently 101.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of WestRock in a research note on Thursday, May 2nd. They issued a “hold” rating on the stock. Wells Fargo & Company increased their price objective on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday. Argus raised their target price on shares of WestRock from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday. Seaport Res Ptn cut shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $42.00 target price on shares of WestRock in a research note on Friday, February 2nd. Five 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, the company presently has an average rating of “Hold” and an average price target of $47.00.

Insider Buying and Selling at WestRock

In other WestRock 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 directly owns 92,117 shares of the company’s stock, valued at approximately $3,939,844.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Denise R. Singleton sold 9,700 shares of WestRock 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 completion of the sale, the executive vice president now directly owns 74,946 shares in the company, valued at $3,856,721.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vicki L. Lostetter sold 3,500 shares of WestRock 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 completion of the sale, the insider now owns 92,117 shares of the company’s stock, valued at $3,939,844.09. The disclosure for this sale can be found here. Insiders sold a total of 20,165 shares of company stock valued at $1,007,346 in the last three months. 0.49% of the stock is currently owned by corporate insiders.

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.