WestRock (NYSE:WRK) Shares Bought by Amalgamated Bank

Amalgamated Bank grew its holdings in WestRock (NYSE:WRK) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 88,287 shares of the basic materials company’s stock after acquiring an additional 10,103 shares during the period. Amalgamated Bank’s holdings in WestRock were worth $3,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of WRK. 626 Financial LLC boosted its holdings in WestRock by 1.4% in the fourth quarter. 626 Financial LLC now owns 18,972 shares of the basic materials company’s stock valued at $788,000 after purchasing an additional 265 shares during the period. Van ECK Associates Corp grew its position in shares of WestRock by 2.4% during the third quarter. Van ECK Associates Corp now owns 12,143 shares of the basic materials company’s stock worth $435,000 after buying an additional 289 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of WestRock by 59.0% during the fourth 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 in the last quarter. Wahed Invest LLC increased its stake in shares of WestRock by 9.0% during the third quarter. Wahed Invest LLC now owns 3,973 shares of the basic materials company’s stock worth $142,000 after buying an additional 327 shares during the period. Finally, Arizona State Retirement System raised its holdings in WestRock by 0.5% in the third quarter. Arizona State Retirement System now owns 69,877 shares of the basic materials company’s stock valued at $2,502,000 after acquiring an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

WestRock Stock Performance

Shares of WestRock stock opened at $51.71 on Friday. The firm’s fifty day simple moving average is $48.29 and its 200-day simple moving average is $43.17. WestRock has a 12 month low of $26.85 and a 12 month high of $52.13. The stock has a market capitalization of $13.29 billion, a price-to-earnings ratio of 43.45, a PEG ratio of 4.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.34 and a quick ratio of 0.85.

WestRock (NYSE:WRK) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 EPS 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 company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period in the previous year, the business posted $0.77 earnings per share. WestRock’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, equities analysts forecast that WestRock will post 1.93 earnings per share for the current year.

WestRock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Monday, May 13th. WestRock’s payout ratio is currently 101.68%.

Insider Transactions at WestRock

In related news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total value of $149,695.00. Following the transaction, the insider now directly owns 92,117 shares in the company, valued at approximately $3,939,844.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider John L. O’neal sold 6,965 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.47, for a total value of $358,488.55. Following the completion of the sale, the insider now owns 60,491 shares in the company, valued at $3,113,471.77. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction that occurred on Monday, February 12th. The shares were 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 in the company, valued at approximately $3,939,844.09. The disclosure for this sale can be found here. Insiders sold 20,165 shares of company stock worth $1,007,346 over the last 90 days. 0.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Seaport Res Ptn downgraded WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Argus increased their price target on shares of WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Monday. Truist Financial boosted their price objective on shares of WestRock from $42.00 to $51.00 and gave the stock a “hold” rating in a research report on Tuesday. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 target price on shares of WestRock in a report on Friday, February 2nd. Finally, StockNews.com began coverage on shares of WestRock in a research note on Friday. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, WestRock presently has a consensus rating of “Hold” and a consensus price target of $47.60.

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.