Swiss National Bank trimmed its position in shares of WestRock (NYSE:WRK – Free Report) by 10.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 823,886 shares of the basic materials company’s stock after selling 91,800 shares during the period. Swiss National Bank owned about 0.32% of WestRock worth $29,495,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Heartland Advisors Inc. raised its stake in shares of WestRock by 2.5% during the third quarter. Heartland Advisors Inc. now owns 307,500 shares of the basic materials company’s stock valued at $11,008,000 after acquiring an additional 7,500 shares during the last quarter. New York Life Investment Management LLC raised its stake in shares of WestRock by 30.6% during the third quarter. New York Life Investment Management LLC now owns 63,105 shares of the basic materials company’s stock valued at $2,259,000 after acquiring an additional 14,797 shares during the last quarter. Qsemble Capital Management LP bought a new position in shares of WestRock during the third quarter valued at about $1,171,000. Blackhawk Capital Partners LLC. bought a new position in shares of WestRock during the third quarter valued at about $208,000. Finally, Metis Global Partners LLC raised its stake in shares of WestRock by 10.0% during the third quarter. Metis Global Partners LLC now owns 16,426 shares of the basic materials company’s stock valued at $588,000 after acquiring an additional 1,493 shares during the last quarter. 85.51% of the stock is owned by institutional investors.
WestRock Trading Up 8.0 %
Shares of NYSE WRK opened at $42.82 on Friday. WestRock has a fifty-two week low of $26.84 and a fifty-two week high of $43.58. The company has a 50 day simple moving average of $41.38 and a two-hundred day simple moving average of $37.34. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81.
WestRock Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 21st. Stockholders of record on Friday, February 9th will be issued a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Thursday, February 8th. WestRock’s payout ratio is -18.01%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on WRK shares. Seaport Res Ptn downgraded shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Wells Fargo & Company reissued an “equal weight” rating and issued a $45.00 price target (up from $42.00) on shares of WestRock in a research note on Thursday, January 11th. StockNews.com started coverage on shares of WestRock in a research note on Sunday, February 4th. They issued a “hold” rating for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. Finally, Argus raised shares of WestRock from a “hold” rating to a “buy” rating in a research note on Friday, November 17th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, WestRock presently has a consensus rating of “Hold” and a consensus target price of $39.43.
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 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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