WestRock (NYSE:WRK) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning lowered its stake in WestRock (NYSE:WRK) by 34.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,077 shares of the basic materials company’s stock after selling 3,674 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in WestRock were worth $350,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in 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 last quarter. OLD Point Trust & Financial Services N A acquired a new position in WestRock in the fourth quarter valued at about $35,000. Parkside Financial Bank & Trust increased its stake in WestRock by 59.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 320 shares during the period. First United Bank & Trust purchased a new stake in WestRock during the fourth quarter worth about $43,000. Finally, Partnership Wealth Management LLC purchased a new stake in WestRock during the fourth quarter worth about $45,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WRK. Argus boosted their price target on shares of WestRock from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Truist Financial boosted their price target on shares of WestRock from $51.00 to $57.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Wells Fargo & Company boosted 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. Finally, StockNews.com began coverage on shares of WestRock in a research note on Saturday, May 18th. They set a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, WestRock presently has a consensus rating of “Hold” and an average price target of $51.75.

Insider Activity at WestRock

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

WestRock Stock Up 2.0 %

WRK stock opened at $49.75 on Thursday. The company’s 50 day moving average price is $51.24 and its 200 day moving average price is $46.83. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.85 and a current ratio of 1.34. WestRock has a fifty-two week low of $27.86 and a fifty-two week high of $54.83. The firm has a market capitalization of $12.79 billion, a price-to-earnings ratio of 41.81, a PEG ratio of 2.02 and a beta of 1.05.

WestRock (NYSE:WRK) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.14. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that WestRock will post 2.16 EPS for the current fiscal year.

WestRock Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Monday, May 13th. WestRock’s dividend payout ratio (DPR) is 101.68%.

About WestRock

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.