WestRock (NYSE:WRK) Insider John L. O’neal Sells 6,965 Shares

WestRock (NYSE:WRK) insider John L. O’neal sold 6,965 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the sale, the insider now owns 60,491 shares of the company’s stock, valued at approximately $3,113,471.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

WestRock Stock Up 0.5 %

WestRock stock traded up $0.24 during trading hours on Monday, hitting $51.40. The stock had a trading volume of 2,179,048 shares, compared to its average volume of 2,138,258. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $13.27 billion, a P/E ratio of 43.11, a price-to-earnings-growth ratio of 4.77 and a beta of 1.10. WestRock has a 12-month low of $26.85 and a 12-month high of $51.79. The stock’s 50-day moving average price is $47.73 and its 200-day moving average price is $42.81.

WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.14. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.75 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. Equities research analysts anticipate that WestRock will post 1.93 EPS for the current fiscal year.

WestRock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.3025 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.21 annualized dividend and a dividend yield of 2.35%. WestRock’s payout ratio is 101.68%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Argus increased their price objective on shares of WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 price objective on shares of WestRock in a research note on Friday, February 2nd. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Wells Fargo & Company lifted their target price on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, StockNews.com initiated coverage on shares of WestRock in a report on Thursday. They issued a “hold” rating for the company. Five investment 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 has a consensus rating of “Hold” and a consensus target price of $47.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WRK. Norges Bank purchased a new position in shares of WestRock during the fourth quarter valued at approximately $198,063,000. Westchester Capital Management LLC raised its holdings in shares of WestRock by 297.7% during the fourth quarter. Westchester Capital Management LLC now owns 3,065,129 shares of the basic materials company’s stock valued at $127,264,000 after purchasing an additional 2,294,371 shares during the last quarter. Pentwater Capital Management LP purchased a new position in shares of WestRock during the third quarter valued at approximately $61,378,000. Segantii Capital Management Ltd bought a new stake in WestRock during the third quarter valued at approximately $59,428,000. Finally, KRYGER CAPITAL Ltd bought a new stake in WestRock during the fourth quarter valued at approximately $55,228,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

WestRock Company Profile

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.