River Global Investors LLP Cuts Stock Holdings in WestRock (NYSE:WRK)

River Global Investors LLP cut its position in WestRock (NYSE:WRK) by 40.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,725 shares of the basic materials company’s stock after selling 28,680 shares during the period. River Global Investors LLP’s holdings in WestRock were worth $1,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in WRK. NBC Securities Inc. purchased a new stake in shares of WestRock in the 3rd quarter valued at approximately $27,000. International Assets Investment Management LLC increased its stake in WestRock by 268.7% in the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 575 shares during the last quarter. Clear Street Markets LLC increased its position in shares of WestRock by 198.5% during the third quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 665 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in WestRock by 59.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 320 shares during the period. Finally, GAMMA Investing LLC purchased a new position in WestRock in the 4th quarter valued at $55,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

WestRock Price Performance

Shares of NYSE WRK traded up $0.05 during trading on Friday, reaching $51.16. The company had a trading volume of 2,966,287 shares, compared to its average volume of 1,905,955. The business’s 50 day moving average price is $47.73 and its 200-day moving average price is $42.77. The stock has a market cap of $13.21 billion, a PE ratio of 42.99, a PEG ratio of 4.77 and a beta of 1.10. WestRock has a 52 week low of $26.85 and a 52 week high of $51.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 1.34.

WestRock (NYSE:WRK) last issued 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 company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. Analysts expect that WestRock will post 1.93 earnings per share for the current year.

WestRock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.3025 per share. The ex-dividend date is Monday, May 13th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.37%. WestRock’s payout ratio is presently 101.68%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 target price on shares of WestRock in a report on Friday, February 2nd. StockNews.com began coverage on shares of WestRock in a report on Thursday. They issued a “hold” rating on the stock. Seaport Res Ptn cut WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, Wells Fargo & Company lifted their target price on WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.50.

Insider Activity at WestRock

In related news, insider Vicki L. Lostetter sold 3,500 shares of WestRock 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 sale, the insider now directly owns 92,117 shares in the company, valued at approximately $3,939,844.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.49% of the stock is owned by insiders.

WestRock 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.