WestRock (NYSE:WRK) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of WestRock (NYSE:WRK) in a research note released on Wednesday. The brokerage issued a hold rating on the basic materials company’s stock.

WRK has been the subject of several other reports. Royal Bank of Canada reaffirmed a sector perform rating and issued a $42.00 price objective on shares of WestRock in a report on Friday, February 2nd. Truist Financial lifted their price objective on WestRock from $40.00 to $48.00 and gave the company a hold rating in a report on Thursday, January 4th. Seaport Res Ptn cut WestRock from a buy rating to a neutral rating in a report on Monday, January 29th. Finally, Wells Fargo & Company reaffirmed an equal weight rating and issued a $45.00 price objective (up from $42.00) on shares of WestRock in a report on Thursday, January 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $43.00.

WestRock Stock Up 0.8 %

NYSE:WRK opened at $47.49 on Wednesday. The stock has a 50 day simple moving average of $46.94 and a 200 day simple moving average of $42.16. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.55 and a quick ratio of 0.95. WestRock has a 1-year low of $26.85 and a 1-year high of $49.67.

WestRock (NYSE:WRK) last released its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share 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%. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. As a group, research analysts expect that WestRock will post 1.93 earnings per share for the current fiscal year.

WestRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Friday, February 9th were issued a dividend of $0.3025 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.55%. WestRock’s dividend payout ratio (DPR) is currently -18.01%.

Insider Transactions at WestRock

In other news, insider Vicki L. Lostetter sold 3,500 shares of the business’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 transaction, the insider now owns 92,117 shares of the company’s stock, valued at approximately $3,939,844.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.49% of the stock is owned by insiders.

Institutional Investors Weigh In On WestRock

A number of hedge funds and other institutional investors have recently bought and sold shares of WRK. NBC Securities Inc. bought a new stake in WestRock during the 3rd quarter worth $27,000. International Assets Investment Management LLC grew its position in WestRock by 268.7% during the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 575 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of WestRock in the 4th quarter valued at about $35,000. Clear Street Markets LLC grew its position in shares of WestRock by 198.5% in 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 during the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of WestRock by 59.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock valued at $36,000 after buying an additional 320 shares during the last quarter. Institutional investors own 83.38% of the company’s stock.

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.