WestRock (NYSE:WRK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in WestRock (NYSE:WRKGet Rating) by 16.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 376,608 shares of the basic materials company’s stock after selling 71,594 shares during the quarter. Principal Financial Group Inc.’s holdings in WestRock were worth $15,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ancora Advisors LLC acquired a new position in WestRock during the 1st quarter worth approximately $29,000. Core Alternative Capital acquired a new position in WestRock during the 1st quarter worth approximately $30,000. Tompkins Financial Corp acquired a new position in WestRock during the 1st quarter worth approximately $37,000. Quadrant Capital Group LLC lifted its position in WestRock by 48.6% during the 1st quarter. Quadrant Capital Group LLC now owns 905 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 296 shares in the last quarter. Finally, Signaturefd LLC lifted its position in WestRock by 22.9% during the 1st quarter. Signaturefd LLC now owns 1,332 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 248 shares in the last quarter. 83.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on WRK. Citigroup lifted their price objective on WestRock from $35.00 to $39.00 in a report on Sunday, November 13th. KeyCorp dropped their price objective on WestRock from $36.00 to $27.00 and set an “underweight” rating on the stock in a report on Friday, September 30th. Wells Fargo & Company lifted their price objective on WestRock from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, November 11th. TheStreet downgraded WestRock from a “b-” rating to a “c+” rating in a report on Friday, October 7th. Finally, StockNews.com downgraded WestRock from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $38.00.

WestRock Price Performance

Shares of NYSE WRK opened at $37.62 on Friday. WestRock has a twelve month low of $30.08 and a twelve month high of $54.78. The company has a current ratio of 1.53, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 10.34, a price-to-earnings-growth ratio of 0.91 and a beta of 1.12. The business has a 50 day simple moving average of $33.84 and a 200-day simple moving average of $39.61.

WestRock (NYSE:WRKGet Rating) last issued its quarterly earnings results on Thursday, November 10th. The basic materials company reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.02). The firm had revenue of $5.40 billion during the quarter, compared to the consensus estimate of $5.44 billion. WestRock had a net margin of 4.44% and a return on equity of 10.77%. WestRock’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. As a group, equities research analysts expect that WestRock will post 3.88 earnings per share for the current year.

WestRock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 23rd. Investors of record on Thursday, November 10th were paid a dividend of $0.275 per share. This is an increase from WestRock’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Wednesday, November 9th. WestRock’s dividend payout ratio is presently 30.22%.

WestRock Company 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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