CIBC Asset Management Inc reduced its stake in shares of Westrock Co (NYSE:WRK) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,188 shares of the basic materials company’s stock after selling 390 shares during the quarter. CIBC Asset Management Inc’s holdings in Westrock were worth $800,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Banco Santander S.A. grew its position in shares of Westrock by 7.7% during the 4th quarter. Banco Santander S.A. now owns 17,158 shares of the basic materials company’s stock worth $648,000 after buying an additional 1,234 shares during the period. Kwmg LLC grew its position in shares of Westrock by 30,897.6% in the 4th quarter. Kwmg LLC now owns 52,386 shares of the basic materials company’s stock valued at $1,978,000 after purchasing an additional 52,217 shares during the period. Northern Trust Corp grew its position in shares of Westrock by 2.4% in the 4th quarter. Northern Trust Corp now owns 2,929,049 shares of the basic materials company’s stock valued at $110,601,000 after purchasing an additional 67,472 shares during the period. Van ECK Associates Corp grew its position in shares of Westrock by 13.1% in the 4th quarter. Van ECK Associates Corp now owns 6,274 shares of the basic materials company’s stock valued at $237,000 after purchasing an additional 727 shares during the period. Finally, Standard Life Aberdeen plc grew its position in shares of Westrock by 6.2% in the 4th quarter. Standard Life Aberdeen plc now owns 334,302 shares of the basic materials company’s stock valued at $12,681,000 after purchasing an additional 19,408 shares during the period. Institutional investors own 86.44% of the company’s stock.
Several equities analysts recently issued reports on WRK shares. Zacks Investment Research reiterated a “hold” rating on shares of Westrock in a research report on Saturday, November 17th. Goldman Sachs Group lowered Westrock from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $57.00 to $54.00 in a research report on Monday, December 10th. Royal Bank of Canada lowered Westrock from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 8th. Barclays lowered Westrock from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $52.00 to $42.00 in a research report on Monday, January 7th. Finally, ValuEngine lowered Westrock from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $54.33.
Westrock (NYSE:WRK) last released its earnings results on Thursday, January 31st. The basic materials company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. The firm had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.58 billion. Westrock had a return on equity of 9.12% and a net margin of 5.44%. As a group, equities analysts expect that Westrock Co will post 4.07 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, February 25th. Shareholders of record on Friday, February 15th were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 4.65%. The ex-dividend date was Thursday, February 14th. Westrock’s payout ratio is 44.50%.
In other news, Director Currey M. Russell bought 5,000 shares of the business’s stock in a transaction on Thursday, February 28th. The shares were purchased at an average price of $37.50 per share, for a total transaction of $187,500.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ward H. Dickson bought 2,645 shares of the business’s stock in a transaction on Monday, February 4th. The stock was purchased at an average price of $37.94 per share, for a total transaction of $100,351.30. The disclosure for this purchase can be found here. Insiders own 2.00% of the company’s stock.
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WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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