WestRock (NYSE:WRK) EVP Sells $499,162.00 in Stock

WestRock (NYSE:WRK) EVP Denise R. Singleton sold 9,700 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.46, for a total value of $499,162.00. Following the transaction, the executive vice president now directly owns 74,946 shares in the company, valued at approximately $3,856,721.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

WestRock Stock Performance

Shares of NYSE:WRK opened at $51.40 on Tuesday. The firm’s 50 day simple moving average is $47.88 and its 200-day simple moving average is $42.92. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.85 and a current ratio of 1.34. WestRock has a one year low of $26.85 and a one year high of $51.79. 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.

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, 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 company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. WestRock’s revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts predict that WestRock will post 1.93 EPS for the current year.

WestRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be paid a dividend of $0.3025 per share. The ex-dividend date of this dividend 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 is presently 101.68%.

Hedge Funds Weigh In On WestRock

Several institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp boosted its position in WestRock by 14.2% during the 3rd quarter. Fifth Third Bancorp now owns 9,433 shares of the basic materials company’s stock valued at $338,000 after acquiring an additional 1,174 shares in the last quarter. Cyndeo Wealth Partners LLC bought a new stake in WestRock during the fourth quarter valued at about $4,584,000. Deutsche Bank AG grew its stake in WestRock by 70.4% in the third quarter. Deutsche Bank AG now owns 1,825,189 shares of the basic materials company’s stock valued at $65,342,000 after purchasing an additional 753,828 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in WestRock by 37.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 600,682 shares of the basic materials company’s stock worth $24,940,000 after purchasing an additional 165,120 shares in the last quarter. Finally, abrdn plc raised its holdings in WestRock by 64.5% in the fourth quarter. abrdn plc now owns 111,954 shares of the basic materials company’s stock worth $4,648,000 after purchasing an additional 43,910 shares in the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.