Public Employees Retirement Association of Colorado Boosts Holdings in WestRock (NYSE:WRK)

Public Employees Retirement Association of Colorado increased its stake in shares of WestRock (NYSE:WRKFree Report) by 671.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,053 shares of the basic materials company’s stock after acquiring an additional 26,156 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in WestRock were worth $1,248,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of WestRock by 268.7% during the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 575 shares in the last quarter. Parkside Financial Bank & Trust increased its position in 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 during the period. Clear Street Markets LLC lifted its stake in WestRock by 198.5% in the third 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. First United Bank & Trust acquired a new stake in shares of WestRock in the fourth quarter valued at approximately $43,000. Finally, Partnership Wealth Management LLC purchased a new position in shares of WestRock during the fourth quarter worth approximately $45,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WRK has been the subject of several research reports. StockNews.com began coverage on shares of WestRock in a research report on Saturday, May 18th. They issued a “hold” rating for the company. Argus increased their target price on shares of WestRock from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Wells Fargo & Company boosted their price target on WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a research report on Friday, May 3rd. Finally, Truist Financial upped their price objective on WestRock from $51.00 to $57.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.80.

Check Out Our Latest Report on WestRock

Insiders Place Their Bets

In other news, EVP Denise R. Singleton sold 9,700 shares of WestRock stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.46, for a total transaction of $499,162.00. Following the completion of the sale, the executive vice president now directly owns 74,946 shares in the company, valued at approximately $3,856,721.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Denise R. Singleton sold 9,700 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.46, for a total value of $499,162.00. Following the completion of the transaction, the executive vice president now owns 74,946 shares in the company, valued at $3,856,721.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John L. O’neal sold 6,965 shares of WestRock stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total value of $358,488.55. Following the transaction, the insider now directly owns 60,491 shares of the company’s stock, valued at approximately $3,113,471.77. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by company insiders.

WestRock Stock Performance

NYSE WRK opened at $50.50 on Tuesday. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 42.44, a PEG ratio of 3.29 and a beta of 1.08. The business’s 50 day moving average is $50.63 and its two-hundred day moving average is $45.75. WestRock has a 12-month low of $27.12 and a 12-month high of $54.83. The company has a current ratio of 1.34, a quick ratio of 0.85 and a debt-to-equity ratio of 0.77.

WestRock (NYSE:WRKGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.14. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.75 billion. WestRock had a return on equity of 5.85% and a net margin of 1.57%. WestRock’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. Research analysts expect that WestRock will post 2.11 EPS for the current year.

WestRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were issued a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Monday, May 13th. WestRock’s dividend payout ratio is currently 101.68%.

WestRock Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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