UBS Group AG Grows Stock Holdings in WestRock (NYSE:WRK)

UBS Group AG boosted its holdings in WestRock (NYSE:WRK – Get Rating) by 48.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 368,263 shares of the basic materials company’s stock after buying an additional 120,340 shares during the period. UBS Group AG’s holdings in WestRock were worth $12,948,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ grew its position in shares of WestRock by 13.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 47,065 shares of the basic materials company’s stock valued at $1,655,000 after purchasing an additional 5,397 shares in the last quarter. Van ECK Associates Corp grew its position in shares of WestRock by 43.1% during the 4th quarter. Van ECK Associates Corp now owns 9,755 shares of the basic materials company’s stock valued at $343,000 after purchasing an additional 2,936 shares in the last quarter. Cozad Asset Management Inc. grew its position in shares of WestRock by 28.1% during the 4th quarter. Cozad Asset Management Inc. now owns 99,380 shares of the basic materials company’s stock valued at $3,494,000 after purchasing an additional 21,820 shares in the last quarter. Boston Partners bought a new stake in shares of WestRock during the 4th quarter worth $1,129,000. Finally, Arizona State Retirement System grew its position in WestRock by 2.9% in the fourth quarter. Arizona State Retirement System now owns 71,981 shares of the basic materials company’s stock worth $2,531,000 after acquiring an additional 2,007 shares in the last quarter. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

WestRock Price Performance

NYSE WRK opened at $27.78 on Monday. The company has a 50-day simple moving average of $29.12 and a two-hundred day simple moving average of $33.07. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.02 and a current ratio of 1.53. WestRock has a 12-month low of $26.84 and a 12-month high of $49.74.

WestRock (NYSE:WRK – Get Rating) last posted its earnings results on Thursday, May 4th. The basic materials company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.26. The company had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.23 billion. WestRock had a negative net margin of 5.86% and a positive return on equity of 9.98%. WestRock’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. As a group, equities analysts predict that WestRock will post 2.48 earnings per share for the current year.

WestRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.96%. WestRock’s dividend payout ratio is currently -22.63%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WRK shares. Citigroup upgraded shares of WestRock from a “neutral” rating to a “buy” rating and cut their target price for the stock from $34.00 to $32.00 in a research report on Monday, March 20th. Wells Fargo & Company upped their target price on shares of WestRock from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Thursday, February 2nd. Bank of America upgraded shares of WestRock from a “neutral” rating to a “buy” rating and upped their target price for the stock from $38.00 to $40.00 in a research report on Thursday, April 20th. Deutsche Bank Aktiengesellschaft cut their target price on shares of WestRock from $34.00 to $32.00 in a research report on Wednesday, March 15th. Finally, StockNews.com began coverage on shares of WestRock in a research report on Thursday. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.57.

WestRock Company Profile

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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.