ING Groep NV Has $22.63 Million Stock Position in WestRock (NYSE:WRK)

ING Groep NV lifted its stake in WestRock (NYSE:WRKFree Report) by 118.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 545,102 shares of the basic materials company’s stock after acquiring an additional 295,328 shares during the period. ING Groep NV owned approximately 0.21% of WestRock worth $22,633,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. NBC Securities Inc. acquired a new stake in shares of WestRock in the third quarter worth $27,000. International Assets Investment Management LLC lifted its position 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 worth $33,000 after purchasing an additional 575 shares during the period. Parkside Financial Bank & Trust lifted its position in WestRock by 59.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 320 shares during the period. Clear Street Markets LLC lifted its position 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 worth $36,000 after purchasing an additional 665 shares during the period. Finally, First United Bank & Trust bought a new position in WestRock in the fourth quarter worth $43,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

WestRock Price Performance

NYSE WRK traded up $0.59 on Friday, hitting $52.94. 1,224,888 shares of the company were exchanged, compared to its average volume of 2,636,828. The firm has a 50 day moving average of $49.13 and a two-hundred day moving average of $43.94. The company has a market cap of $13.61 billion, a P/E ratio of 44.49, a P/E/G ratio of 4.46 and a beta of 1.10. 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 has a 1-year low of $27.01 and a 1-year high of $52.98.

WestRock (NYSE:WRKGet Free Report) last issued its quarterly earnings results 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. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.75 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. On average, equities analysts predict that WestRock will post 2.11 EPS 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 of this dividend is Monday, May 13th. This represents a $1.21 dividend on an annualized basis and a yield of 2.29%. WestRock’s payout ratio is presently 101.68%.

Analyst Ratings Changes

WRK has been the subject of several research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 target price on shares of WestRock in a research report on Friday, February 2nd. Argus lifted their price objective on WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday, May 6th. StockNews.com started coverage on WestRock in a report on Saturday. They set a “hold” rating for the company. Truist Financial lifted their price objective on WestRock from $42.00 to $51.00 and gave the company a “hold” rating in a report on Tuesday, May 7th. Finally, Seaport Res Ptn cut WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, WestRock presently has a consensus rating of “Hold” and an average price target of $47.60.

Get Our Latest Report on WestRock

Insider Buying and Selling at WestRock

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

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.

Read More

Want to see what other hedge funds are holding WRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WestRock (NYSE:WRKFree Report).

Institutional Ownership by Quarter for WestRock (NYSE:WRK)

Receive News & Ratings for WestRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WestRock and related companies with MarketBeat.com's FREE daily email newsletter.