WestRock (NYSE:WRK) Reaches New 12-Month High at $49.67

WestRock (NYSE:WRK) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $49.67 and last traded at $49.55, with a volume of 1559978 shares traded. The stock had previously closed at $48.69.

Analyst Upgrades and Downgrades

WRK has been the subject of a number of research reports. Seaport Res Ptn cut shares of WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $45.00 target price (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. StockNews.com began coverage on shares of WestRock in a report on Saturday, March 23rd. They issued a “hold” rating for the company. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 price objective on shares of WestRock in a report on Friday, February 2nd. Finally, Truist Financial raised their price objective on WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a research report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.40.

WestRock Price Performance

The stock’s 50-day moving average price is $44.19 and its 200-day moving average price is $40.49. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of -7.36, a price-to-earnings-growth ratio of 4.04 and a beta of 1.09. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81.

WestRock (NYSE:WRK) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.15). WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter in the prior year, the business earned $0.55 EPS. WestRock’s revenue was down 6.2% on a year-over-year basis. Equities research analysts anticipate that WestRock will post 1.95 earnings per share for the current year.

WestRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Friday, February 9th were issued a $0.3025 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.21 annualized dividend and a yield of 2.45%. WestRock’s dividend payout ratio (DPR) is presently -18.01%.

Insider Buying and Selling

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the completion of the sale, the insider now directly owns 92,117 shares in the company, valued at $3,939,844.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WestRock

A number of large investors have recently bought and sold shares of WRK. NBC Securities Inc. acquired a new position in shares of WestRock during the third quarter valued at about $27,000. Ancora Advisors LLC purchased a new position in WestRock during the 1st quarter worth $29,000. Gyon Technologies Capital Management LP bought a new stake in shares of WestRock in the 4th quarter worth $31,000. Financial Management Professionals Inc. raised its holdings in shares of WestRock by 1,815.2% in the third quarter. Financial Management Professionals Inc. now owns 881 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 835 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in 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 during the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

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.