WestRock (NYSE:WRK) Trading 3.8% Higher

WestRock (NYSE:WRK) shares were up 3.8% during mid-day trading on Friday . The stock traded as high as $51.68 and last traded at $51.65. Approximately 2,222,047 shares were traded during trading, a decline of 13% from the average daily volume of 2,544,216 shares. The stock had previously closed at $49.75.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WRK. StockNews.com assumed coverage on WestRock in a research note on Saturday, May 18th. They issued a “hold” rating for the company. Truist Financial upped their target price on shares of WestRock from $51.00 to $57.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Argus lifted their price target on shares of WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Wells Fargo & Company increased their price objective on shares of WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.75.

WestRock Trading Up 4.6 %

The company has a market cap of $13.38 billion, a PE ratio of 41.81, a P/E/G ratio of 2.06 and a beta of 1.05. The stock’s 50 day moving average is $51.30 and its 200-day moving average is $46.85. 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) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.75 billion. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 earnings per share. As a group, sell-side analysts anticipate that WestRock will post 2.16 EPS for the current year.

WestRock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th were given a dividend of $0.3025 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.21 annualized dividend and a dividend yield of 2.32%. WestRock’s dividend payout ratio (DPR) is presently 101.68%.

Insider Activity

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

Institutional Trading of WestRock

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its position in 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 purchasing an additional 575 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of WestRock in the 4th quarter worth approximately $35,000. Parkside Financial Bank & Trust raised its stake in shares of WestRock by 59.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 320 shares in the last quarter. First United Bank & Trust purchased a new stake in WestRock during the fourth quarter valued at approximately $43,000. Finally, Headlands Technologies LLC acquired a new stake in WestRock in the first quarter valued at approximately $44,000. Institutional investors own 83.38% of the company’s stock.

WestRock Company 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.