Oak Thistle LLC Invests $836,000 in WestRock (NYSE:WRK)

Oak Thistle LLC acquired a new stake in shares of WestRock (NYSE:WRKFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,142 shares of the basic materials company’s stock, valued at approximately $836,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WRK. Vanguard Group Inc. grew its stake in shares of WestRock by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 30,619,872 shares of the basic materials company’s stock valued at $1,440,053,000 after purchasing an additional 252,490 shares during the period. BlackRock Inc. grew its position in WestRock by 9.6% during the first quarter. BlackRock Inc. now owns 26,528,567 shares of the basic materials company’s stock valued at $808,325,000 after buying an additional 2,320,073 shares during the period. State Street Corp increased its holdings in WestRock by 14.7% during the second quarter. State Street Corp now owns 11,986,307 shares of the basic materials company’s stock valued at $348,442,000 after buying an additional 1,538,825 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in WestRock by 59.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,318,827 shares of the basic materials company’s stock worth $283,947,000 after acquiring an additional 3,459,641 shares during the period. Finally, Norges Bank purchased a new position in shares of WestRock during the 4th quarter worth $194,739,000. Institutional investors own 83.38% of the company’s stock.

WestRock Price Performance

Shares of WRK opened at $49.28 on Wednesday. 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 50 day simple moving average of $44.75 and a two-hundred day simple moving average of $40.85.

WestRock (NYSE:WRKGet Free Report) last posted its 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 company 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 business’s revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. Sell-side analysts anticipate that WestRock will post 1.95 earnings per share for the current year.

WestRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were given 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 dividend payout ratio is currently -18.01%.

Analysts Set New Price Targets

WRK has been the topic of a number of recent research reports. Truist Financial raised their target price on WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $45.00 price objective (up previously from $42.00) on shares of WestRock in a research note on Thursday, January 11th. Seaport Res Ptn downgraded WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. 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. Finally, StockNews.com initiated coverage on shares of WestRock in a research report on Sunday. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.40.

View Our Latest Stock Report on WestRock

Insider Activity at WestRock

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

WestRock Company Profile

(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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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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