Oppenheimer Asset Management Inc. Has $1.06 Million Holdings in WestRock (NYSE:WRK)

Posted by on May 6th, 2023

Oppenheimer Asset Management Inc. boosted its holdings in shares of WestRock (NYSE:WRK – Get Rating) by 14.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,175 shares of the basic materials company’s stock after purchasing an additional 3,767 shares during the period. Oppenheimer Asset Management Inc.’s holdings in WestRock were worth $1,061,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. increased its holdings in WestRock by 0.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 148,543 shares of the basic materials company’s stock valued at $5,223,000 after purchasing an additional 762 shares in the last quarter. Dakota Wealth Management acquired a new stake in WestRock during the 3rd quarter valued at $235,000. Ontario Teachers Pension Plan Board increased its holdings in WestRock by 125.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 22,111 shares of the basic materials company’s stock valued at $683,000 after purchasing an additional 12,304 shares in the last quarter. Signaturefd LLC increased its holdings in WestRock by 90.1% during the 4th quarter. Signaturefd LLC now owns 3,251 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 1,541 shares in the last quarter. Finally, Prudential PLC increased its holdings in WestRock by 16.6% during the 3rd quarter. Prudential PLC now owns 10,286 shares of the basic materials company’s stock valued at $318,000 after purchasing an additional 1,468 shares in the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

WestRock Stock Up 0.4 %

NYSE:WRK opened at $28.45 on Friday. WestRock has a 1 year low of $26.84 and a 1 year high of $54.15. The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.93. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 0.92 and a beta of 1.19. The stock has a 50-day moving average price of $29.90 and a two-hundred day moving average price of $33.47.

WestRock (NYSE:WRK – Get Rating) last posted its earnings results on Thursday, May 4th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.26. WestRock had a positive return on equity of 9.98% and a negative net margin of 5.86%. The firm had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same period in the previous year, the firm earned $1.17 earnings per share. The company’s revenue was down 1.9% on a year-over-year basis. As a group, equities analysts expect that WestRock will post 2.9 earnings per share for the current year.

WestRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Thursday, May 11th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, May 10th. This represents a $1.10 annualized dividend and a yield of 3.87%. WestRock’s payout ratio is presently 35.03%.

Analyst Ratings Changes

Several equities research analysts have recently commented on WRK shares. Argus cut WestRock from a “buy” rating to a “hold” rating in a research note on Monday, February 13th. Citigroup upgraded WestRock from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $34.00 to $32.00 in a research report on Monday, March 20th. Deutsche Bank Aktiengesellschaft dropped their target price on WestRock from $34.00 to $32.00 in a research report on Wednesday, March 15th. StockNews.com started coverage on WestRock in a research report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Wells Fargo & Company boosted their target price on WestRock from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, WestRock presently has a consensus rating of “Hold” and an average target price of $33.57.

About WestRock

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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.

Further Reading

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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