Distillate Capital Partners LLC grew its holdings in shares of WestRock (NYSE:WRK – Get Rating) by 47.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,341 shares of the basic materials company’s stock after purchasing an additional 27,027 shares during the quarter. Distillate Capital Partners LLC’s holdings in WestRock were worth $3,741,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its holdings in shares of WestRock by 53.4% during the 3rd quarter. First Horizon Advisors Inc. now owns 721 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 251 shares during the period. CWM LLC purchased a new stake in WestRock in the 4th quarter valued at about $40,000. Signaturefd LLC raised its holdings in WestRock by 34.0% in the 4th quarter. Signaturefd LLC now owns 1,084 shares of the basic materials company’s stock valued at $48,000 after buying an additional 275 shares during the period. Capital Directions Investment Advisors LLC purchased a new stake in WestRock in the 3rd quarter valued at about $74,000. Finally, Retirement Planning Co of New England Inc. purchased a new stake in WestRock in the 4th quarter valued at about $66,000. Institutional investors and hedge funds own 83.96% of the company’s stock.
A number of analysts have issued reports on WRK shares. Zacks Investment Research upgraded shares of WestRock from a “sell” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Thursday, January 13th. StockNews.com started coverage on shares of WestRock in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Citigroup cut their price target on shares of WestRock from $60.00 to $53.00 in a research note on Tuesday, January 4th. Bank of America lowered shares of WestRock from a “buy” rating to a “neutral” rating and cut their price target for the stock from $60.00 to $57.00 in a research note on Thursday, January 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on WestRock from $52.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, April 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $55.30.
WestRock (NYSE:WRK – Get Rating) last issued its quarterly earnings data on Thursday, February 3rd. The basic materials company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. WestRock had a return on equity of 8.00% and a net margin of 4.50%. The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.93 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. On average, sell-side analysts predict that WestRock will post 4.8 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 24th. Stockholders of record on Thursday, May 12th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.02%. WestRock’s dividend payout ratio (DPR) is presently 30.96%.
In other news, insider Thomas Stigers sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $50.10, for a total transaction of $751,500.00. Following the completion of the sale, the insider now owns 88,034 shares in the company, valued at $4,410,503.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.
WestRock Profile (Get Rating)
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 two segments, Corrugated Packaging and Consumer Packaging. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.
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