Cambridge Investment Research Advisors Inc. Has $3.56 Million Stock Holdings in WestRock (NYSE:WRK)

Cambridge Investment Research Advisors Inc. raised its stake in WestRock (NYSE:WRK – Free Report) by 12.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,563 shares of the basic materials company’s stock after buying an additional 13,776 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in WestRock were worth $3,563,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in WestRock in the 4th quarter valued at $194,739,000. Price T Rowe Associates Inc. MD raised its stake in shares of WestRock by 59.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,318,827 shares of the basic materials company’s stock worth $283,947,000 after acquiring an additional 3,459,641 shares during the last quarter. BlackRock Inc. raised its stake in shares of WestRock by 9.6% during the first quarter. BlackRock Inc. now owns 26,528,567 shares of the basic materials company’s stock worth $808,325,000 after buying an additional 2,320,073 shares during the last quarter. FMR LLC increased its stake in WestRock by 30.8% in the first quarter. FMR LLC now owns 4,308,386 shares of the basic materials company’s stock valued at $131,277,000 after purchasing an additional 1,014,745 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in WestRock by 273.4% in the fourth quarter. American Century Companies Inc. now owns 1,255,317 shares of the basic materials company’s stock valued at $44,137,000 after purchasing an additional 919,165 shares in the last quarter. Institutional investors and hedge funds own 85.51% of the company’s stock.

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WestRock Stock Performance

NYSE WRK opened at $35.75 on Thursday. WestRock has a 1 year low of $26.84 and a 1 year high of $39.30. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.49 and a quick ratio of 0.98. The firm has a market cap of $9.16 billion, a price-to-earnings ratio of -6.45 and a beta of 1.21. The company has a fifty day moving average price of $33.48 and a 200-day moving average price of $30.57.

WestRock (NYSE:WRK – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.39. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $5.16 billion. WestRock had a negative net margin of 6.82% and a positive return on equity of 8.75%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. As a group, equities research analysts predict that WestRock will post 3.02 EPS for the current fiscal year.

WestRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date was Wednesday, August 9th. WestRock’s payout ratio is currently -19.86%.

Analyst Upgrades and Downgrades

WRK has been the topic of several analyst reports. Wells Fargo & Company upped their price target on shares of WestRock from $37.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. StockNews.com started coverage on shares of WestRock in a research report on Thursday, September 21st. They set a “hold” rating on the stock. Royal Bank of Canada increased their price objective on shares of WestRock from $33.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. Truist Financial increased their price objective on shares of WestRock from $34.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, September 21st. Finally, UBS Group reduced their price objective on shares of WestRock from $42.00 to $37.00 in a research note on Friday, June 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, WestRock presently has an average rating of “Hold” and a consensus target price of $36.25.

Read Our Latest Stock Report on WRK

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 in 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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