Public Employees Retirement Association of Colorado Boosts Holdings in WestRock (NYSE:WRK)

Public Employees Retirement Association of Colorado grew its position in WestRock (NYSE:WRKFree Report) by 671.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,053 shares of the basic materials company’s stock after acquiring an additional 26,156 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in WestRock were worth $1,248,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in WestRock by 268.7% in 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 during the period. Clear Street Markets LLC raised its holdings in shares of WestRock by 198.5% in the third quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock worth $36,000 after buying an additional 665 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of WestRock by 59.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 320 shares during the last quarter. First United Bank & Trust purchased a new position in WestRock during the 4th quarter valued at $43,000. Finally, Partnership Wealth Management LLC bought a new position in WestRock in the 4th quarter valued at $45,000. Institutional investors own 83.38% of the company’s stock.

WestRock Stock Down 2.6 %

Shares of WestRock stock opened at $50.50 on Tuesday. WestRock has a 1 year low of $27.12 and a 1 year high of $54.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.34 and a quick ratio of 0.85. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 42.44, a PEG ratio of 3.29 and a beta of 1.08. The firm’s 50-day moving average is $50.63 and its two-hundred day moving average is $45.75.

WestRock (NYSE:WRKGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. WestRock’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. As a group, research analysts expect that WestRock will post 2.11 earnings per share for the current fiscal year.

WestRock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th were given a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Monday, May 13th. WestRock’s payout ratio is 101.68%.

Insider Buying and Selling

In other WestRock news, insider John L. O’neal sold 6,965 shares of WestRock stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $51.47, for a total value of $358,488.55. Following the transaction, the insider now owns 60,491 shares in the company, valued at $3,113,471.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Denise R. Singleton sold 9,700 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.46, for a total transaction of $499,162.00. Following the completion of the sale, the executive vice president now owns 74,946 shares in the company, valued at approximately $3,856,721.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John L. O’neal sold 6,965 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total value of $358,488.55. Following the completion of the sale, the insider now directly owns 60,491 shares of the company’s stock, valued at approximately $3,113,471.77. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WRK. StockNews.com assumed coverage on shares of WestRock in a research note on Saturday, May 18th. They set a “hold” rating for the company. Argus upped 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, May 6th. Wells Fargo & Company raised their target price on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Finally, Truist Financial increased their price objective on WestRock from $51.00 to $57.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.80.

Get Our Latest Research Report on WestRock

About WestRock

(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.

See Also

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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