SG Americas Securities LLC Cuts Stock Holdings in WestRock (NYSE:WRK)

SG Americas Securities LLC cut its position in shares of WestRock (NYSE:WRK) by 19.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 51,431 shares of the basic materials company’s stock after selling 12,217 shares during the period. SG Americas Securities LLC’s holdings in WestRock were worth $2,135,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new stake in shares of WestRock during the 1st quarter valued at about $29,000. NBC Securities Inc. acquired a new stake in WestRock in the third quarter valued at approximately $27,000. Financial Management Professionals Inc. increased its position in shares of WestRock by 1,815.2% in the third quarter. Financial Management Professionals Inc. now owns 881 shares of the basic materials company’s stock valued at $32,000 after buying an additional 835 shares in the last quarter. Gyon Technologies Capital Management LP acquired a new position in shares of WestRock during the 4th quarter worth approximately $31,000. Finally, Clear Street Markets LLC lifted its position in shares of WestRock by 198.5% during the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock valued at $36,000 after buying an additional 665 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

Insider Activity at WestRock

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $42.77, for a total transaction of $149,695.00. Following the completion of the sale, the insider now owns 92,117 shares of the company’s stock, valued at $3,939,844.09. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WRK shares. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. StockNews.com initiated coverage on WestRock in a research note on Saturday, March 23rd. They set a “hold” rating for the company. Truist Financial lifted their target price on shares of WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $42.00 target price on shares of WestRock in a research report on Friday, February 2nd. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $45.00 price target (up from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, WestRock has an average rating of “Hold” and a consensus price target of $42.40.

WestRock Stock Down 0.3 %

NYSE WRK opened at $49.20 on Thursday. The business’s fifty day simple moving average is $44.01 and its 200-day simple moving average is $40.43. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81. The firm has a market cap of $12.62 billion, a PE ratio of -7.32, a P/E/G ratio of 3.98 and a beta of 1.09. WestRock has a 52 week low of $26.85 and a 52 week high of $49.67.

WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.15). The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.79 billion. WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. WestRock’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 earnings per share. As a group, equities analysts anticipate that WestRock will post 1.95 earnings per share for the current year.

WestRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Thursday, February 8th. WestRock’s dividend payout ratio is presently -18.01%.

WestRock Company Profile

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.