WestRock (NYSE:WRK) Shares Acquired by Readystate Asset Management LP

Readystate Asset Management LP lifted its position in shares of WestRock (NYSE:WRK) by 40.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,400 shares of the basic materials company’s stock after buying an additional 55,100 shares during the period. Readystate Asset Management LP owned approximately 0.07% of WestRock worth $7,905,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ancora Advisors LLC acquired a new stake in WestRock in the 1st quarter valued at $29,000. NBC Securities Inc. acquired a new stake in WestRock in the 3rd quarter valued at $27,000. International Assets Investment Management LLC grew its stake in shares of WestRock by 268.7% during the fourth 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 in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of WestRock during the fourth quarter valued at about $35,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of WestRock by 59.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 320 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com assumed coverage on WestRock in a research note on Tuesday. They set a “hold” rating for the company. Truist Financial raised their target price on WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 target price on shares of WestRock in a research note on Friday, February 2nd. Wells Fargo & Company restated an “equal weight” rating and set a $45.00 target price (up from $42.00) on shares of WestRock in a research note on Thursday, January 11th. Finally, Seaport Res Ptn cut shares of WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, WestRock presently has an average rating of “Hold” and a consensus target price of $42.40.

WestRock Stock Up 0.0 %

Shares of WRK stock traded up $0.02 during trading hours on Wednesday, hitting $47.23. 2,338,728 shares of the company were exchanged, compared to its average volume of 2,140,964. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.55. WestRock has a one year low of $26.85 and a one year high of $49.67. The business’s 50-day simple moving average is $46.53 and its two-hundred day simple moving average is $41.79. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of -7.03, a P/E/G ratio of 3.89 and a beta of 1.10.

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

WestRock Announces Dividend

The firm 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 of this dividend was Thursday, February 8th. This represents a $1.21 dividend on an annualized basis and a yield of 2.56%. WestRock’s dividend payout ratio is currently -18.01%.

Insiders Place Their Bets

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