HB Wealth Management LLC Grows Position in WestRock (NYSE:WRK)

HB Wealth Management LLC raised its position in shares of WestRock (NYSE:WRK) by 50.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,204 shares of the basic materials company’s stock after buying an additional 4,095 shares during the quarter. HB Wealth Management LLC’s holdings in WestRock were worth $507,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WRK. NBC Securities Inc. purchased a new position in shares of WestRock in the 3rd quarter worth approximately $27,000. Ancora Advisors LLC purchased a new position in WestRock during the 1st quarter valued at $29,000. Gyon Technologies Capital Management LP purchased a new position in WestRock during the 4th quarter valued at $31,000. Financial Management Professionals Inc. boosted its holdings in WestRock by 1,815.2% during the 3rd quarter. Financial Management Professionals Inc. now owns 881 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 835 shares during the period. Finally, Clear Street Markets LLC boosted its holdings in WestRock by 198.5% during the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 665 shares during the period. Hedge funds and other institutional investors own 83.38% of the company’s stock.

WestRock Stock Down 0.3 %

WestRock stock opened at $49.20 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.55. The business’s 50-day simple moving average is $44.01 and its two-hundred day simple moving average is $40.43. The company has a market cap of $12.62 billion, a PE ratio of -7.32, a PEG ratio of 3.98 and a beta of 1.09. WestRock has a fifty-two week low of $26.85 and a fifty-two week high of $49.67.

WestRock (NYSE:WRK) last posted its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.15). The firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.79 billion. WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 EPS. Equities analysts anticipate that WestRock will post 1.95 EPS for the current year.

WestRock Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Friday, February 9th were paid 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 dividend yield of 2.46%. WestRock’s payout ratio is -18.01%.

Insider Buying and Selling

In related news, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.77, for a total transaction of $149,695.00. Following the sale, the insider now directly 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 can be accessed through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WRK shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $42.00 target price on shares of WestRock in a research report on Friday, February 2nd. Seaport Res Ptn lowered WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Wells Fargo & Company reissued an “equal weight” rating and issued a $45.00 price target (up from $42.00) on shares of WestRock in a research report on Thursday, January 11th. StockNews.com assumed coverage on WestRock in a research report on Saturday, March 23rd. They issued a “hold” rating for the company. Finally, Truist Financial boosted their price target on WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a research report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, WestRock presently has an average rating of “Hold” and a consensus price target of $42.40.

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.