State of Alaska Department of Revenue Decreases Stock Holdings in WestRock (NYSE:WRK)

State of Alaska Department of Revenue reduced its position in WestRock (NYSE:WRKGet Rating) by 11.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,934 shares of the basic materials company’s stock after selling 13,080 shares during the quarter. State of Alaska Department of Revenue’s holdings in WestRock were worth $3,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in WestRock by 0.8% in the first quarter. Vanguard Group Inc. now owns 30,619,872 shares of the basic materials company’s stock worth $1,440,053,000 after buying an additional 252,490 shares during the last quarter. BlackRock Inc. increased its position in WestRock by 7.3% in the first quarter. BlackRock Inc. now owns 22,390,460 shares of the basic materials company’s stock worth $1,053,023,000 after buying an additional 1,516,498 shares during the last quarter. Nordea Investment Management AB increased its position in WestRock by 16.4% in the first quarter. Nordea Investment Management AB now owns 7,632,981 shares of the basic materials company’s stock worth $362,796,000 after buying an additional 1,075,253 shares during the last quarter. Greenhaven Associates Inc. purchased a new stake in WestRock in the first quarter worth $337,501,000. Finally, Norges Bank purchased a new stake in WestRock in the fourth quarter worth $262,710,000. 83.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider John L. O’neal sold 5,173 shares of the company’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $42.55, for a total value of $220,111.15. Following the transaction, the insider now directly owns 46,305 shares in the company, valued at $1,970,277.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other WestRock news, insider John L. O’neal sold 5,173 shares of the stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $42.55, for a total transaction of $220,111.15. Following the transaction, the insider now directly owns 46,305 shares in the company, valued at $1,970,277.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James E. Nevels sold 2,483 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $42.36, for a total transaction of $105,179.88. Following the transaction, the director now owns 14,326 shares in the company, valued at $606,849.36. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

WestRock Stock Down 2.3 %

WRK stock opened at $33.61 on Thursday. The company has a current ratio of 1.46, a quick ratio of 0.90 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $40.47 and its 200 day moving average is $44.16. The stock has a market cap of $8.57 billion, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 0.51 and a beta of 1.03. WestRock has a 1-year low of $33.59 and a 1-year high of $54.78.

WestRock (NYSE:WRKGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The basic materials company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.04. The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.51 billion. WestRock had a net margin of 4.41% and a return on equity of 10.42%. WestRock’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.00 earnings per share. Sell-side analysts predict that WestRock will post 4.8 EPS for the current fiscal year.

WestRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Friday, August 12th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Thursday, August 11th. WestRock’s dividend payout ratio (DPR) is 28.57%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WRK. TheStreet raised WestRock from a “c+” rating to a “b-” rating in a research report on Wednesday, August 10th. Deutsche Bank Aktiengesellschaft cut their price target on WestRock from $59.00 to $45.00 in a report on Tuesday, July 19th. StockNews.com raised WestRock from a “buy” rating to a “strong-buy” rating in a report on Monday. Wells Fargo & Company cut their price target on WestRock from $66.00 to $59.00 and set an “overweight” rating for the company in a report on Thursday, May 26th. Finally, Citigroup lowered WestRock from a “buy” rating to a “neutral” rating and cut their price target for the stock from $53.00 to $45.00 in a report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, WestRock presently has a consensus rating of “Hold” and an average price target of $47.29.

WestRock Profile

(Get Rating)

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 two segments, Corrugated Packaging and Consumer Packaging. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.

Further Reading

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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