Swiss National Bank Has $33.29 Million Stock Position in WestRock (NYSE:WRK)

Swiss National Bank lessened its holdings in shares of WestRock (NYSE:WRK) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 801,786 shares of the basic materials company’s stock after selling 22,100 shares during the quarter. Swiss National Bank’s holdings in WestRock were worth $33,290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in shares of WestRock during the 3rd quarter valued at about $27,000. International Assets Investment Management LLC boosted its holdings in shares of WestRock by 268.7% in the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock valued at $33,000 after buying an additional 575 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of WestRock by 59.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock valued at $36,000 after buying an additional 320 shares during the period. Clear Street Markets LLC increased 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 worth $36,000 after acquiring an additional 665 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of WestRock during the fourth quarter worth $55,000. 83.38% of the stock is currently owned by institutional investors.

WestRock Stock Performance

Shares of WRK opened at $51.62 on Wednesday. WestRock has a one year low of $26.85 and a one year high of $52.07. The company has a market cap of $13.33 billion, a PE ratio of 43.38, a price-to-earnings-growth ratio of 4.77 and a beta of 1.10. The firm has a 50-day moving average of $48.02 and a 200-day moving average of $43.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.34 and a quick ratio of 0.85.

WestRock (NYSE:WRK) last posted its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The business had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.75 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. As a group, equities analysts forecast that WestRock will post 1.93 earnings per share for the current year.

WestRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be paid a $0.3025 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.21 dividend on an annualized basis and a yield of 2.34%. WestRock’s dividend payout ratio (DPR) is currently 101.68%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 target price on shares of WestRock in a report on Friday, February 2nd. Truist Financial lifted their target price on WestRock from $42.00 to $51.00 and gave the company a “hold” rating in a research report on Tuesday. Wells Fargo & Company raised their price target on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, StockNews.com initiated coverage on shares of WestRock in a research report on Thursday, May 2nd. They issued a “hold” rating for the company. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.60.

Insider Buying and Selling at WestRock

In other news, insider John L. O’neal sold 6,965 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the sale, the insider now owns 60,491 shares in the company, valued at $3,113,471.77. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider John L. O’neal sold 6,965 shares of WestRock stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the sale, the insider now owns 60,491 shares of the company’s stock, valued at $3,113,471.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Denise R. Singleton sold 9,700 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.46, for a total transaction of $499,162.00. Following the completion of the transaction, the executive vice president now owns 74,946 shares in the company, valued at $3,856,721.16. The disclosure for this sale can be found here. Insiders have sold a total of 20,165 shares of company stock valued at $1,007,346 in the last three months. 0.49% of the stock is currently owned by company insiders.

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.