WestRock (NYSE:WRK) Reaches New 1-Year High After Strong Earnings

WestRock (NYSE:WRK)’s share price hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $51.23 and last traded at $51.08, with a volume of 583280 shares trading hands. The stock had previously closed at $47.90.

The basic materials company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The business had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year.

WestRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be given a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Monday, May 13th. WestRock’s dividend payout ratio is currently 101.68%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wells Fargo & Company raised their price target on WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday. Seaport Res Ptn downgraded WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 target price on shares of WestRock in a report on Friday, February 2nd. Finally, StockNews.com initiated coverage on shares of WestRock in a research note on Thursday. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $44.50.

Insider Activity

In related news, insider Vicki L. Lostetter sold 3,500 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly 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 can be accessed through this hyperlink. Insiders own 0.49% of the company’s stock.

Institutional Inflows and Outflows

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

WestRock Stock Up 0.1 %

The stock has a fifty day moving average price of $47.73 and a two-hundred day moving average price of $42.73. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 42.99, a P/E/G ratio of 4.77 and a beta of 1.10. The company has a quick ratio of 0.95, a current ratio of 1.34 and a debt-to-equity ratio of 0.77.

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.