Wealth Enhancement Advisory Services LLC Buys 331 Shares of WestRock (NYSE:WRK)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of WestRock (NYSE:WRKFree Report) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,457 shares of the basic materials company’s stock after purchasing an additional 331 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in WestRock were worth $2,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WRK. International Assets Investment Management LLC grew its position in shares of 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 buying an additional 575 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of WestRock during the fourth quarter worth $35,000. Parkside Financial Bank & Trust increased its position in shares of WestRock by 59.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 320 shares in the last quarter. First United Bank & Trust purchased a new stake in shares of WestRock during the 4th quarter valued at $43,000. Finally, Partnership Wealth Management LLC acquired a new stake in shares of WestRock in the 4th quarter worth $45,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on WRK shares. Argus increased their price target on WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Wells Fargo & Company lifted their target price on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. StockNews.com initiated coverage on shares of WestRock in a research report on Saturday, May 18th. They set a “hold” rating on the stock. Finally, Truist Financial raised their price target on shares of WestRock from $51.00 to $57.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.75.

View Our Latest Report on WRK

Insider Activity

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

WestRock Trading Up 2.0 %

WestRock stock opened at $49.75 on Thursday. The stock has a 50-day moving average price of $51.24 and a 200 day moving average price of $46.83. The company has a market capitalization of $12.79 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 2.08 and a beta of 1.05. WestRock has a 52 week low of $27.86 and a 52 week high of $54.83. 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 (NYSE:WRKGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.25 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 EPS. Sell-side analysts anticipate that WestRock will post 2.16 EPS for the current year.

WestRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th were given a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a yield of 2.43%. The ex-dividend date was Monday, May 13th. WestRock’s dividend payout ratio is currently 101.68%.

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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