Private Management Group Inc. Sells 362,079 Shares of WestRock (NYSE:WRK)

Private Management Group Inc. lowered its stake in WestRock (NYSE:WRK) by 34.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 683,462 shares of the basic materials company’s stock after selling 362,079 shares during the period. Private Management Group Inc.’s holdings in WestRock were worth $28,377,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. NBC Securities Inc. bought a new stake in shares of WestRock during the 3rd quarter valued at about $27,000. International Assets Investment Management LLC raised its holdings in WestRock by 268.7% in the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 575 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in WestRock by 59.0% in the 4th 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. Clear Street Markets LLC boosted 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 valued at $36,000 after buying an additional 665 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in WestRock in the 4th quarter worth about $55,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

WestRock Stock Performance

WRK traded down $0.97 during midday trading on Tuesday, reaching $47.10. The company had a trading volume of 2,112,174 shares, compared to its average volume of 2,121,753. The business has a 50-day moving average of $46.84 and a two-hundred day moving average of $42.08. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81. WestRock has a 1 year low of $26.85 and a 1 year high of $49.67. The company has a market cap of $12.16 billion, a P/E ratio of -7.02, a P/E/G ratio of 3.98 and a beta of 1.10.

WestRock (NYSE:WRK) last released its earnings results on Thursday, February 1st. The basic materials company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.79 billion. WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. WestRock’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. As a group, equities research analysts predict that WestRock will post 1.93 earnings per share for the current fiscal year.

WestRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Friday, February 9th were paid a $0.3025 dividend. The ex-dividend date was Thursday, February 8th. This represents a $1.21 dividend on an annualized basis and a yield of 2.57%. WestRock’s payout ratio is presently -18.01%.

Insider Buying and Selling at WestRock

In other news, insider Vicki L. Lostetter sold 3,500 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $3,939,844.09. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WRK. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $45.00 price target (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. StockNews.com started coverage on shares of WestRock in a research note on Tuesday, April 16th. They set a “hold” rating for the company. Truist Financial lifted their price objective on WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. Seaport Res Ptn downgraded WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $42.00 price target on shares of WestRock in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.00.

About WestRock

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.