Virtue Capital Management LLC bought a new position in shares of WestRock Co (NYSE:WRK) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 10,550 shares of the basic materials company’s stock, valued at approximately $667,000.
Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. increased its position in shares of WestRock by 672.6% during the 4th quarter. Assetmark Inc. now owns 1,661 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 1,446 shares in the last quarter. Invictus RG acquired a new stake in shares of WestRock during the 3rd quarter worth about $108,000. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of WestRock during the 3rd quarter worth about $130,000. Tower Research Capital LLC TRC increased its position in shares of WestRock by 1,225.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,107 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 1,948 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of WestRock during the 3rd quarter worth about $147,000. Institutional investors and hedge funds own 87.18% of the company’s stock.
Several research firms have weighed in on WRK. ValuEngine cut shares of WestRock from a “buy” rating to a “hold” rating in a research report on Wednesday. Zacks Investment Research cut shares of WestRock from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays raised their price objective on shares of WestRock from $60.00 to $64.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Bank of America raised their price objective on shares of WestRock from $73.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, Citigroup raised their price objective on shares of WestRock from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $74.25.
WestRock (NYSE:WRK) last issued its earnings results on Monday, January 29th. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.12. The company had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.95 billion. WestRock had a net margin of 11.51% and a return on equity of 7.45%. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS. sell-side analysts expect that WestRock Co will post 3.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 16th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Thursday, February 15th. WestRock’s dividend payout ratio (DPR) is presently 25.18%.
In other news, insider James B. Porter sold 14,930 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $70.00, for a total value of $1,045,100.00. Following the transaction, the insider now owns 50,093 shares of the company’s stock, valued at approximately $3,506,510. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $63.68, for a total transaction of $658,642.24. Following the completion of the transaction, the director now directly owns 497,557 shares in the company, valued at approximately $31,684,429.76. The disclosure for this sale can be found here. Insiders sold a total of 478,442 shares of company stock worth $31,464,146 in the last ninety days. Insiders own 2.68% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “10,550 Shares in WestRock Co (WRK) Purchased by Virtue Capital Management LLC” was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are reading this report on another site, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this report can be viewed at https://www.tickerreport.com/banking-finance/3253968/10550-shares-in-westrock-co-wrk-purchased-by-virtue-capital-management-llc.html.
WestRock Company Profile
WestRock Company, incorporated on March 6, 2015, 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.
Want to see what other hedge funds are holding WRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WestRock Co (NYSE:WRK).
Receive News & Ratings for WestRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WestRock and related companies with MarketBeat.com's FREE daily email newsletter.