Wetzel Investment Advisors Inc. Acquires New Stake in WestRock (NYSE:WRK)

Wetzel Investment Advisors Inc. acquired a new stake in WestRock (NYSE:WRK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,655 shares of the basic materials company’s stock, valued at approximately $110,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Twin Capital Management Inc. raised its holdings in shares of WestRock by 10.3% in the 4th quarter. Twin Capital Management Inc. now owns 58,368 shares of the basic materials company’s stock valued at $2,423,000 after buying an additional 5,445 shares during the period. Federated Hermes Inc. increased its holdings in WestRock by 21.8% during the 4th quarter. Federated Hermes Inc. now owns 32,148 shares of the basic materials company’s stock worth $1,335,000 after purchasing an additional 5,748 shares during the period. Daiwa Securities Group Inc. increased its holdings in WestRock by 6.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 23,710 shares of the basic materials company’s stock worth $984,000 after purchasing an additional 1,421 shares during the period. Strs Ohio increased its holdings in WestRock by 4.2% during the 4th quarter. Strs Ohio now owns 46,987 shares of the basic materials company’s stock worth $1,950,000 after purchasing an additional 1,883 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in WestRock during the 4th quarter worth about $644,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Insider Activity at WestRock

In related news, insider Vicki L. Lostetter sold 3,500 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.77, for a total value of $149,695.00. Following the completion of the sale, the insider now directly owns 92,117 shares of the company’s stock, valued at approximately $3,939,844.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.49% of the company’s stock.

WestRock Trading Up 0.9 %

WRK opened at $47.99 on Friday. WestRock has a one year low of $26.85 and a one year high of $49.67. The company has a market cap of $12.39 billion, a P/E ratio of -7.14, a PEG ratio of 3.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.55. The business’s 50-day simple moving average is $46.74 and its 200-day simple moving average is $41.96.

WestRock (NYSE:WRK) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.79 billion. WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. As a group, equities research analysts expect that WestRock will post 1.93 EPS for the current fiscal year.

WestRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were given a $0.3025 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.52%. WestRock’s dividend payout ratio (DPR) is presently -18.01%.

Analyst Ratings Changes

Several brokerages have weighed in on WRK. Truist Financial upped their price target on WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. StockNews.com began coverage on WestRock in a report on Tuesday, April 16th. They set a “hold” rating on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $45.00 price target (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. Seaport Res Ptn downgraded WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $42.00 price objective on shares of WestRock in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $43.00.

About WestRock

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.