Systematic Financial Management LP cut its holdings in WestRock Co (NYSE:WRK) by 31.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 347,663 shares of the basic materials company’s stock after selling 156,717 shares during the quarter. Systematic Financial Management LP’s holdings in WestRock were worth $19,824,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of WRK. OLD Dominion Capital Management Inc. increased its stake in shares of WestRock by 9.5% during the first quarter. OLD Dominion Capital Management Inc. now owns 11,024 shares of the basic materials company’s stock worth $707,000 after acquiring an additional 955 shares during the period. Daiwa Securities Group Inc. increased its stake in shares of WestRock by 12.9% during the first quarter. Daiwa Securities Group Inc. now owns 8,765 shares of the basic materials company’s stock worth $562,000 after acquiring an additional 1,004 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in shares of WestRock during the first quarter worth about $466,000. FormulaFolio Investments LLC increased its stake in shares of WestRock by 166.2% during the first quarter. FormulaFolio Investments LLC now owns 17,260 shares of the basic materials company’s stock worth $1,108,000 after acquiring an additional 10,777 shares during the period. Finally, New York State Teachers Retirement System increased its stake in shares of WestRock by 4.0% during the first quarter. New York State Teachers Retirement System now owns 482,649 shares of the basic materials company’s stock worth $30,972,000 after acquiring an additional 18,530 shares during the period. 87.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WRK opened at $55.32 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. WestRock Co has a twelve month low of $52.78 and a twelve month high of $71.55. The stock has a market cap of $14.03 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.02 and a beta of 1.36.
WestRock (NYSE:WRK) last issued its earnings results on Thursday, August 2nd. The basic materials company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. WestRock had a net margin of 11.31% and a return on equity of 8.49%. The company had revenue of $4.14 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the prior year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was up 12.0% compared to the same quarter last year. equities analysts anticipate that WestRock Co will post 4.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Shareholders of record on Friday, August 10th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, August 9th. This represents a $1.72 annualized dividend and a yield of 3.11%. WestRock’s payout ratio is currently 65.65%.
A number of brokerages have recently issued reports on WRK. Zacks Investment Research lowered shares of WestRock from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 5th. ValuEngine lowered shares of WestRock from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Citigroup lowered their target price on shares of WestRock from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 10th. KeyCorp restated a “hold” rating on shares of WestRock in a research report on Friday, April 27th. Finally, Stephens set a $63.00 target price on shares of WestRock and gave the stock a “weight” rating in a research report on Thursday, July 5th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. WestRock has a consensus rating of “Buy” and an average target price of $74.67.
WestRock Company Profile
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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