Alpha Omega Wealth Management LLC Reduces Position in WestRock (NYSE:WRK)

Alpha Omega Wealth Management LLC reduced its holdings in shares of WestRock (NYSE:WRK) by 10.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 125,243 shares of the basic materials company’s stock after selling 14,496 shares during the period. WestRock accounts for 0.9% of Alpha Omega Wealth Management LLC’s portfolio, making the stock its 26th biggest position. Alpha Omega Wealth Management LLC’s holdings in WestRock were worth $5,200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in WRK. Strs Ohio raised its holdings in shares of WestRock by 4.2% during the fourth quarter. Strs Ohio now owns 46,987 shares of the basic materials company’s stock worth $1,950,000 after purchasing an additional 1,883 shares during the period. Louisiana State Employees Retirement System bought a new position in WestRock in the fourth quarter worth about $644,000. Baystate Wealth Management LLC boosted its stake in WestRock by 42.3% in the fourth quarter. Baystate Wealth Management LLC now owns 1,700 shares of the basic materials company’s stock valued at $71,000 after acquiring an additional 505 shares during the period. Cerity Partners LLC grew its holdings in shares of WestRock by 23.0% during the fourth quarter. Cerity Partners LLC now owns 18,589 shares of the basic materials company’s stock valued at $772,000 after purchasing an additional 3,482 shares during the last quarter. Finally, Custom Index Systems LLC acquired a new stake in shares of WestRock during the 4th quarter worth approximately $337,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

WestRock Price Performance

NYSE:WRK traded down $0.29 during trading hours on Wednesday, reaching $47.21. 1,705,576 shares of the company’s stock were exchanged, compared to its average volume of 1,993,628. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $12.19 billion, a P/E ratio of -7.02, a price-to-earnings-growth ratio of 3.89 and a beta of 1.10. WestRock has a 12 month low of $26.85 and a 12 month high of $49.67. The business’s 50-day simple moving average is $46.38 and its two-hundred day simple moving average is $41.75.

WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.15). The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.79 billion. WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 earnings per share. Sell-side analysts expect that WestRock will post 1.95 EPS for the current fiscal year.

WestRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were issued a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Thursday, February 8th. WestRock’s dividend payout ratio is currently -18.01%.

Insider Activity at WestRock

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the completion of the sale, the insider now owns 92,117 shares of the company’s stock, valued at approximately $3,939,844.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WRK. StockNews.com started coverage on WestRock in a research note on Tuesday. They set a “hold” rating for the company. Truist Financial raised their target price on WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, January 4th. Wells Fargo & Company reiterated an “equal weight” rating and set a $45.00 price target (up previously from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 target price on shares of WestRock in a research note on Friday, February 2nd. Finally, Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, WestRock currently has an average rating of “Hold” and a consensus price target of $42.40.

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.