WestRock (NYSE:WRK - Get Free Report) insider John L. O'neal sold 6,965 shares of WestRock stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the sale, the insider now directly owns 60,491 shares in the company, valued at approximately $3,113,471.77. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
WestRock Price Performance
NYSE:WRK opened at $51.40 on Tuesday. WestRock has a 52 week low of $26.85 and a 52 week high of $51.79. The stock's fifty day moving average is $47.88 and its two-hundred day moving average is $42.92. The company has a market capitalization of $13.27 billion, a P/E ratio of 43.19, a P/E/G ratio of 4.77 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.77.
WestRock (NYSE:WRK - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.14. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. WestRock's revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. Equities analysts expect that WestRock will post 1.93 EPS for the current year.
WestRock Dividend Announcement
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors 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 dividend yield of 2.35%. WestRock's payout ratio is currently 101.68%.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on WRK shares. Seaport Res Ptn downgraded shares of WestRock from a "buy" rating to a "neutral" rating in a report on Monday, January 29th. StockNews.com assumed coverage on WestRock in a report on Thursday, May 2nd. They issued a "hold" rating on the stock. Argus raised their target price on WestRock from $50.00 to $57.00 and gave the company a "buy" rating in a research report on Monday. Wells Fargo & Company lifted their price target on WestRock from $46.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $42.00 price objective on shares of WestRock in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, WestRock presently has a consensus rating of "Hold" and a consensus price target of $47.00.
View Our Latest Report on WestRock
Institutional Trading of WestRock
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its stake in shares of WestRock by 14.2% in the third quarter. Fifth Third Bancorp now owns 9,433 shares of the basic materials company's stock valued at $338,000 after buying an additional 1,174 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new position in WestRock during the 4th quarter valued at about $4,584,000. Deutsche Bank AG boosted its holdings in WestRock by 70.4% during the 3rd quarter. Deutsche Bank AG now owns 1,825,189 shares of the basic materials company's stock valued at $65,342,000 after acquiring an additional 753,828 shares during the period. Salem Investment Counselors Inc. grew its position in WestRock by 37.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 600,682 shares of the basic materials company's stock valued at $24,940,000 after acquiring an additional 165,120 shares in the last quarter. Finally, abrdn plc increased its stake in WestRock by 64.5% during the fourth quarter. abrdn plc now owns 111,954 shares of the basic materials company's stock worth $4,648,000 after purchasing an additional 43,910 shares during the period. Hedge funds and other institutional investors own 83.38% of the company's stock.
WestRock Company Profile
(
Get 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.
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