WestRock (NYSE:WRK) Insider Sells $358,488.55 in Stock

WestRock (NYSE:WRK) insider John L. O’neal sold 6,965 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the transaction, the insider now directly owns 60,491 shares of the company’s stock, valued at $3,113,471.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

WestRock Stock Up 0.4 %

Shares of WestRock stock opened at $51.81 on Thursday. The business has a fifty day simple moving average of $48.16 and a 200 day simple moving average of $43.11. The stock has a market cap of $13.32 billion, a PE ratio of 43.54, a price-to-earnings-growth ratio of 4.77 and a beta of 1.10. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.77. WestRock has a 12 month low of $26.85 and a 12 month high of $52.07.

WestRock (NYSE:WRK) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. The business had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. WestRock’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the company posted $0.77 EPS. Research analysts predict that WestRock will post 1.93 EPS for the current year.

WestRock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be issued a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 2.34%. The ex-dividend date is Monday, May 13th. WestRock’s dividend payout ratio (DPR) is 101.68%.

Institutional Trading of WestRock

Large investors have recently made changes to their positions in the company. NBC Securities Inc. bought a new position in WestRock during the third quarter worth about $27,000. International Assets Investment Management LLC raised its position in shares of WestRock by 268.7% during the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 575 shares during the period. OLD Point Trust & Financial Services N A bought a new position in shares of WestRock during the 4th quarter valued at about $35,000. Clear Street Markets LLC grew its position in shares of WestRock by 198.5% in the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 665 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of WestRock by 59.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock valued at $36,000 after buying an additional 320 shares during the period. Institutional investors own 83.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WRK shares. StockNews.com assumed coverage on shares of WestRock in a research report on Thursday, May 2nd. They issued a “hold” rating for the company. Seaport Res Ptn lowered WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Argus raised their price target on WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday. Truist Financial boosted their price objective on WestRock from $42.00 to $51.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company raised their target price on shares of WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $47.60.

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.