United Capital Financial Advisers LLC decreased its position in WestRock (NYSE:WRK – Get Rating) by 10.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 9,649 shares of the basic materials company’s stock after selling 1,184 shares during the period. United Capital Financial Advisers LLC’s holdings in WestRock were worth $298,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of WRK. Ancora Advisors LLC bought a new stake in WestRock in the 1st quarter valued at approximately $29,000. Twin Lakes Capital Management LLC acquired a new position in shares of WestRock during the 3rd quarter worth approximately $43,000. Quadrant Capital Group LLC increased its position in shares of WestRock by 48.7% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,346 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 441 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of WestRock during the 2nd quarter worth approximately $55,000. Finally, CNB Bank acquired a new position in shares of WestRock during the 2nd quarter worth approximately $69,000. Institutional investors own 84.08% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the company. StockNews.com lowered WestRock from a “buy” rating to a “hold” rating in a research report on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on WestRock from $40.00 to $34.00 and set a “hold” rating on the stock in a research report on Thursday, February 2nd. Argus lowered WestRock from a “buy” rating to a “hold” rating in a research report on Monday, February 13th. Wells Fargo & Company boosted their target price on WestRock from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Finally, Truist Financial decreased their target price on WestRock from $40.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, November 11th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $34.57.
WestRock Stock Performance
WestRock (NYSE:WRK – Get Rating) last issued its quarterly earnings data on Wednesday, February 1st. The basic materials company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.05). WestRock had a net margin of 3.80% and a return on equity of 10.53%. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $5.11 billion. During the same period in the prior year, the company earned $0.65 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts forecast that WestRock will post 2.98 EPS for the current year.
WestRock Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Shareholders of record on Friday, February 10th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend was Thursday, February 9th. WestRock’s dividend payout ratio is 35.03%.
Insider Buying and Selling at WestRock
In other WestRock news, Director Currey M. Russell sold 55,000 shares of the company’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $36.51, for a total value of $2,008,050.00. Following the transaction, the director now directly owns 245,271 shares of the company’s stock, valued at approximately $8,954,844.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.48% of the company’s stock.
About WestRock
WestRock Co engages in the provision of sustainable fiber-based paper and packaging solutions. It operates through the following segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment consists of the sale of corrugated containers and other corrugated products including displays.
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