Asset Management One Co. Ltd. raised its stake in Westrock Company (NYSE:WRK) by 931.7% during the fourth quarter, Holdings Channel reports. The fund owned 436,936 shares of the company’s stock after buying an additional 394,586 shares during the period. Asset Management One Co. Ltd.’s holdings in Westrock Company were worth $22,213,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. MSI Financial Services Inc boosted its position in Westrock Company by 61.3% in the third quarter. MSI Financial Services Inc now owns 2,060 shares of the company’s stock valued at $100,000 after buying an additional 783 shares during the last quarter. Welch Group LLC acquired a new position in Westrock Company during the third quarter valued at approximately $117,000. TLP Group LLC acquired a new position in Westrock Company during the third quarter valued at approximately $131,000. Assetmark Inc. acquired a new position in Westrock Company during the third quarter valued at approximately $139,000. Finally, Engineers Gate Manager LP acquired a new position in Westrock Company during the third quarter valued at approximately $208,000. Institutional investors and hedge funds own 90.57% of the company’s stock.
Westrock Company (NYSE:WRK) traded down 3.13% during trading on Friday, hitting $52.63. The stock had a trading volume of 1,118,817 shares. Westrock Company has a 52-week low of $30.56 and a 52-week high of $56.12. The company has a 50-day moving average of $52.91 and a 200 day moving average of $49.13. The firm has a market cap of $13.22 billion, a P/E ratio of 97.83 and a beta of 1.27.
Westrock Company (NYSE:WRK) last announced its earnings results on Tuesday, January 24th. The company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.01. Westrock Company had a return on equity of 6.32% and a net margin of 0.96%. The company had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Westrock Company’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts predict that Westrock Company will post $2.62 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 20th. Investors of record on Friday, February 10th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, February 8th. This represents a $1.60 dividend on an annualized basis and a yield of 2.94%. Westrock Company’s dividend payout ratio is currently 301.89%.
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Several equities analysts recently commented on the company. Credit Suisse Group set a $66.00 target price on Westrock Company and gave the stock a “buy” rating in a research report on Thursday. KeyCorp restated a “hold” rating on shares of Westrock Company in a research report on Wednesday. Zacks Investment Research cut Westrock Company from a “hold” rating to a “sell” rating in a research report on Tuesday, January 31st. RBC Capital Markets restated a “hold” rating and set a $51.00 target price on shares of Westrock Company in a research report on Friday, January 6th. Finally, Jefferies Group LLC restated a “buy” rating and set a $64.00 target price (up from $59.00) on shares of Westrock Company in a research report on Wednesday, January 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $56.78.
In related news, insider Robert A. Feeser sold 23,670 shares of the firm’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $51.28, for a total value of $1,213,797.60. Following the transaction, the insider now directly owns 93,870 shares of the company’s stock, valued at approximately $4,813,653.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.68% of the stock is currently owned by company insiders.
About Westrock Company
WestRock Company is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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