Wedge Capital Management L L P NC Sells 2,763 Shares of WestRock (NYSE:WRK)

Wedge Capital Management L L P NC lessened its stake in WestRock (NYSE:WRKGet Rating) by 20.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,839 shares of the basic materials company’s stock after selling 2,763 shares during the quarter. Wedge Capital Management L L P NC’s holdings in WestRock were worth $432,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Greenleaf Trust increased its holdings in shares of WestRock by 2.6% in the first quarter. Greenleaf Trust now owns 8,661 shares of the basic materials company’s stock worth $407,000 after acquiring an additional 221 shares in the last quarter. CWM LLC increased its holdings in shares of WestRock by 26.2% in the first quarter. CWM LLC now owns 1,140 shares of the basic materials company’s stock worth $54,000 after acquiring an additional 237 shares in the last quarter. Pflug Koory LLC increased its holdings in shares of WestRock by 6.7% in the first quarter. Pflug Koory LLC now owns 3,863 shares of the basic materials company’s stock worth $182,000 after acquiring an additional 244 shares in the last quarter. Signaturefd LLC boosted its position in shares of WestRock by 22.9% during the first quarter. Signaturefd LLC now owns 1,332 shares of the basic materials company’s stock worth $63,000 after buying an additional 248 shares during the period. Finally, Cetera Investment Advisers boosted its position in shares of WestRock by 1.5% during the fourth quarter. Cetera Investment Advisers now owns 16,781 shares of the basic materials company’s stock worth $744,000 after buying an additional 254 shares during the period. Institutional investors own 83.52% of the company’s stock.

Insiders Place Their Bets

In other WestRock news, insider John L. O’neal sold 5,173 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $42.55, for a total transaction of $220,111.15. Following the transaction, the insider now owns 46,305 shares in the company, valued at approximately $1,970,277.75. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other WestRock news, Director James E. Nevels sold 2,483 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was 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 approximately $606,849.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John L. O’neal sold 5,173 shares of WestRock stock in a transaction 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 completion of the transaction, the insider now owns 46,305 shares in the company, valued at approximately $1,970,277.75. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

WestRock Price Performance

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

WestRock (NYSE:WRKGet Rating) last announced its earnings results on Thursday, August 4th. The basic materials company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.04. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.51 billion. WestRock had a return on equity of 10.42% and a net margin of 4.41%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 earnings per share. Equities research analysts predict that WestRock will post 4.8 earnings per share for the current year.

WestRock Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on WRK shares. Deutsche Bank Aktiengesellschaft reduced their price objective on WestRock from $59.00 to $45.00 in a research report on Tuesday, July 19th. Jefferies Financial Group reduced their price objective on WestRock from $45.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, September 16th. KeyCorp reduced their price target on WestRock from $44.00 to $36.00 and set an “underweight” rating for the company in a research report on Friday, July 1st. Wells Fargo & Company reduced their price target on WestRock from $66.00 to $59.00 and set an “overweight” rating for the company in a research report on Thursday, May 26th. Finally, Citigroup cut WestRock from a “buy” rating to a “neutral” rating and reduced their price target for the company from $53.00 to $45.00 in a research 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 issued a strong buy rating to the company. According to MarketBeat, WestRock currently has an average rating of “Hold” and an average price target of $47.29.

About WestRock

(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.

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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