Hosking Partners LLP reduced its stake in Westrock Co (NYSE:WRK) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,845 shares of the basic materials company’s stock after selling 4,603 shares during the period. Hosking Partners LLP’s holdings in Westrock were worth $5,314,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Allred Capital Management LLC acquired a new position in Westrock in the 4th quarter valued at $29,000. Kistler Tiffany Companies LLC acquired a new position in Westrock in the third quarter valued at about $25,000. Huntington National Bank lifted its position in Westrock by 1,394.1% during the fourth quarter. Huntington National Bank now owns 762 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 711 shares during the period. NEXT Financial Group Inc lifted its position in Westrock by 40.9% during the fourth quarter. NEXT Financial Group Inc now owns 902 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 262 shares during the period. Finally, Cedar Wealth Management LLC acquired a new stake in Westrock during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 81.47% of the company’s stock.
Several brokerages have recently commented on WRK. ValuEngine cut shares of Westrock from a “hold” rating to a “sell” rating in a research report on Tuesday, February 4th. Wells Fargo & Co upgraded shares of Westrock from an “equal weight” rating to an “overweight” rating and set a $52.00 price target on the stock in a research report on Thursday, January 2nd. Bank of America raised shares of Westrock from a “neutral” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Monday, November 18th. TheStreet raised shares of Westrock from a “c+” rating to a “b-” rating in a research note on Tuesday, December 31st. Finally, Citigroup upgraded shares of Westrock from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $38.00 to $48.00 in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $44.78.
Westrock (NYSE:WRK) last issued its earnings results on Thursday, January 30th. The basic materials company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.01). Westrock had a return on equity of 8.23% and a net margin of 4.69%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.38 billion. During the same period in the previous year, the firm posted $0.83 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts expect that Westrock Co will post 3.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Friday, February 14th will be issued a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Thursday, February 13th. Westrock’s dividend payout ratio (DPR) is presently 46.73%.
In other Westrock news, Director John A. Luke, Jr. sold 188,659 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $40.67, for a total value of $7,672,761.53. Following the sale, the director now owns 689,418 shares in the company, valued at $28,038,630.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James B. Porter sold 25,753 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $40.04, for a total transaction of $1,031,150.12. Following the sale, the insider now directly owns 47,119 shares in the company, valued at approximately $1,886,644.76. The disclosure for this sale can be found here. Insiders own 1.92% of the company’s stock.
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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