Salem Investment Counselors Inc. lifted its stake in WestRock Co (NYSE:WRK) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,746 shares of the basic materials company’s stock after purchasing an additional 953 shares during the period. Salem Investment Counselors Inc.’s holdings in WestRock were worth $5,088,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strs Ohio increased its holdings in WestRock by 36.9% during the 2nd quarter. Strs Ohio now owns 18,080 shares of the basic materials company’s stock valued at $1,024,000 after acquiring an additional 4,874 shares in the last quarter. Global X Management Co. LLC increased its holdings in WestRock by 49.0% during the 2nd quarter. Global X Management Co. LLC now owns 4,794 shares of the basic materials company’s stock valued at $272,000 after acquiring an additional 1,577 shares in the last quarter. Wetherby Asset Management Inc. increased its holdings in WestRock by 1.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 4,495 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 60 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in WestRock by 6.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 848,232 shares of the basic materials company’s stock valued at $48,061,000 after acquiring an additional 51,124 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in WestRock by 19.7% during the 2nd quarter. First Trust Advisors LP now owns 337,649 shares of the basic materials company’s stock valued at $19,131,000 after acquiring an additional 55,623 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

In other WestRock news, Director John A. Luke, Jr. sold 10,343 shares of WestRock stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $55.12, for a total transaction of $570,106.16. Following the transaction, the director now directly owns 497,557 shares of the company’s stock, valued at $27,425,341.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert A. Feeser sold 29,972 shares of WestRock stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $60.00, for a total transaction of $1,798,320.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 161,788 shares of company stock worth $9,629,984. 2.68% of the stock is currently owned by corporate insiders.

Shares of WestRock Co (NYSE:WRK) traded up $0.36 during mid-day trading on Thursday, reaching $64.30. 1,523,800 shares of the company’s stock were exchanged, compared to its average volume of 1,452,020. The firm has a market capitalization of $16,330.00 and a PE ratio of 24.41. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57. WestRock Co has a 1 year low of $49.23 and a 1 year high of $64.87.

WestRock (NYSE:WRK) last announced its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.13 billion. WestRock had a net margin of 4.77% and a return on equity of 6.73%. WestRock’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.71 earnings per share. research analysts anticipate that WestRock Co will post 3.72 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Friday, November 10th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.67%. This is a boost from WestRock’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, November 9th. WestRock’s payout ratio is 62.09%.

A number of equities research analysts have recently commented on WRK shares. Deutsche Bank set a $70.00 price target on shares of WestRock and gave the stock a “buy” rating in a report on Thursday. Royal Bank of Canada reiterated a “buy” rating and set a $65.00 price target on shares of WestRock in a report on Monday, September 25th. DA Davidson reiterated a “buy” rating and set a $74.00 price target on shares of WestRock in a report on Friday, November 3rd. Barclays lifted their price target on shares of WestRock from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, November 6th. Finally, Stephens initiated coverage on shares of WestRock in a research report on Tuesday, October 24th. They issued an “equal weight” rating and a $61.00 target price on the stock. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. WestRock presently has a consensus rating of “Buy” and a consensus price target of $66.09.

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About WestRock

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.

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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