First Allied Advisory Services Inc. Purchases New Stake in WestRock Co (WRK)
First Allied Advisory Services Inc. purchased a new position in shares of WestRock Co (NYSE:WRK) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,501 shares of the basic materials company’s stock, valued at approximately $254,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in WRK. Vanguard Group Inc. raised its position in WestRock by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 26,211,606 shares of the basic materials company’s stock valued at $1,485,150,000 after buying an additional 484,771 shares during the last quarter. BlackRock Inc. raised its position in WestRock by 0.8% in the 2nd quarter. BlackRock Inc. now owns 22,598,192 shares of the basic materials company’s stock valued at $1,280,411,000 after buying an additional 180,112 shares during the last quarter. American Century Companies Inc. raised its position in WestRock by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 3,492,402 shares of the basic materials company’s stock valued at $198,124,000 after buying an additional 227,189 shares during the last quarter. AJO LP raised its position in WestRock by 13,639.1% in the 2nd quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock valued at $157,637,000 after buying an additional 2,761,910 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in WestRock by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,616,992 shares of the basic materials company’s stock valued at $148,463,000 after buying an additional 33,316 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors.
WestRock Co (NYSE WRK) traded up $0.56 during mid-day trading on Friday, reaching $63.11. The company’s stock had a trading volume of 5,030,234 shares, compared to its average volume of 1,385,899. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.49. The company has a market capitalization of $15,926.13, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 1.51 and a beta of 1.37. WestRock Co has a 12-month low of $49.23 and a 12-month high of $64.87.
The business also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Friday, November 10th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.73%. This is an increase from WestRock’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, November 9th. WestRock’s dividend payout ratio (DPR) is currently 62.09%.
In other news, Director John A. Luke, Jr. sold 10,343 shares of WestRock stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $64.35, for a total transaction of $665,572.05. Following the completion of the transaction, the director now directly owns 497,557 shares in the company, valued at approximately $32,017,792.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert A. Feeser sold 29,972 shares of WestRock stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total value of $1,798,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 161,788 shares of company stock valued at $9,629,984. Corporate insiders own 2.68% of the company’s stock.
WRK has been the topic of a number of recent research reports. DA Davidson reissued a “buy” rating and issued a $74.00 target price on shares of WestRock in a research report on Friday, November 3rd. Deutsche Bank set a $70.00 target price on WestRock and gave the company a “buy” rating in a research report on Thursday. BidaskClub raised WestRock from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Zacks Investment Research lowered WestRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $65.00 target price on shares of WestRock in a research report on Monday, September 25th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $66.09.
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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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