Cambridge Investment Research Advisors Inc. Decreases Holdings in WestRock (NYSE:WRK)

Cambridge Investment Research Advisors Inc. trimmed its holdings in shares of WestRock (NYSE:WRKFree Report) by 55.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,236 shares of the basic materials company’s stock after selling 70,029 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in WestRock were worth $2,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in WestRock in the 4th quarter valued at about $198,063,000. JPMorgan Chase & Co. raised its stake in shares of WestRock by 2.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,954,114 shares of the basic materials company’s stock valued at $105,757,000 after purchasing an additional 74,185 shares in the last quarter. Segantii Capital Management Ltd raised its stake in shares of WestRock by 75.2% in the 4th quarter. Segantii Capital Management Ltd now owns 2,907,561 shares of the basic materials company’s stock valued at $120,722,000 after purchasing an additional 1,247,561 shares in the last quarter. Northern Trust Corp raised its stake in shares of WestRock by 11.4% in the 3rd quarter. Northern Trust Corp now owns 2,696,898 shares of the basic materials company’s stock valued at $96,549,000 after purchasing an additional 275,033 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of WestRock by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,632,588 shares of the basic materials company’s stock valued at $109,305,000 after purchasing an additional 80,098 shares in the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider John L. O’neal sold 6,965 shares of WestRock stock in a transaction that occurred on Friday, May 3rd. The stock was 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 $3,113,471.77. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Denise R. Singleton sold 9,700 shares of the firm’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 transaction of $499,162.00. Following the transaction, the executive vice president now owns 74,946 shares in the company, valued at $3,856,721.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John L. O’neal sold 6,965 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.47, for a total transaction of $358,488.55. Following 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. Corporate insiders own 0.49% of the company’s stock.

WestRock Stock Performance

Shares of NYSE WRK opened at $54.74 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $50.20 and its two-hundred day moving average price is $45.09. WestRock has a 52-week low of $27.12 and a 52-week high of $54.83. The stock has a market capitalization of $14.07 billion, a P/E ratio of 46.00, a P/E/G ratio of 3.40 and a beta of 1.08.

WestRock (NYSE:WRKGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.75 billion. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. As a group, sell-side analysts forecast that WestRock will post 2.11 earnings per share for the current year.

WestRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.3025 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.21%. WestRock’s dividend payout ratio (DPR) is presently 101.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WRK shares. StockNews.com started coverage on shares of WestRock in a research note on Saturday, May 18th. They issued a “hold” rating on the stock. Wells Fargo & Company upped their target price on shares of WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Argus upped their target price on shares of WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Truist Financial upped their target price on shares of WestRock from $51.00 to $57.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, WestRock currently has a consensus rating of “Hold” and a consensus price target of $48.80.

Check Out Our Latest Analysis on WestRock

WestRock Profile

(Free Report)

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.

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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