Mainstay Capital Management LLC ADV Increases Stock Holdings in WestRock (NYSE:WRK)

Mainstay Capital Management LLC ADV boosted its position in shares of WestRock (NYSE:WRK) by 20.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 37,497 shares of the basic materials company’s stock after buying an additional 6,239 shares during the quarter. WestRock makes up approximately 0.3% of Mainstay Capital Management LLC ADV’s portfolio, making the stock its 28th biggest position. Mainstay Capital Management LLC ADV’s holdings in WestRock were worth $1,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. NBC Securities Inc. purchased a new position in WestRock in the third quarter worth approximately $27,000. Ancora Advisors LLC acquired a new stake in shares of WestRock during the 1st quarter worth about $29,000. Gyon Technologies Capital Management LP acquired a new position in WestRock in the fourth quarter valued at about $31,000. Financial Management Professionals Inc. increased its position in shares of WestRock by 1,815.2% during the third quarter. Financial Management Professionals Inc. now owns 881 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 835 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of WestRock by 268.7% in the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 575 shares during the period. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. StockNews.com started coverage on shares of WestRock in a report on Sunday, March 31st. They issued a “hold” rating for the company. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 price target on shares of WestRock in a research report on Friday, February 2nd. Wells Fargo & Company reiterated an “equal weight” rating and issued a $45.00 price objective (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, Truist Financial upped 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $42.40.

WestRock Trading Up 0.1 %

Shares of WestRock stock traded up $0.06 during trading hours on Friday, hitting $48.90. 1,209,246 shares of the company were exchanged, compared to its average volume of 2,306,598. The business has a 50-day moving average of $45.17 and a 200-day moving average of $41.05. WestRock has a 1 year low of $26.85 and a 1 year high of $49.67. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.55 and a quick ratio of 0.95.

WestRock (NYSE:WRK) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.79 billion. WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same period last year, the business earned $0.55 earnings per share. On average, equities research analysts expect that WestRock will post 1.95 earnings per share for the current fiscal year.

WestRock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Friday, February 9th were given a dividend of $0.3025 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.21 dividend on an annualized basis and a yield of 2.47%. WestRock’s dividend payout ratio (DPR) is -18.01%.

Insider Buying and Selling at WestRock

In other news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.77, for a total value of $149,695.00. Following the completion of the transaction, the insider now owns 92,117 shares in the company, valued at approximately $3,939,844.09. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.49% of the stock is owned by corporate insiders.

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.