Keybank National Association OH reduced its position in shares of WestRock Co (NYSE:WRK) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,779 shares of the basic materials company’s stock after selling 1,125 shares during the period. Keybank National Association OH’s holdings in WestRock were worth $1,164,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners boosted its position in shares of WestRock by 1.1% in the second quarter. Boston Partners now owns 8,152,587 shares of the basic materials company’s stock worth $464,861,000 after acquiring an additional 89,561 shares during the last quarter. American Century Companies Inc. boosted its position in shares of WestRock by 19.2% in the third quarter. American Century Companies Inc. now owns 5,726,585 shares of the basic materials company’s stock worth $306,029,000 after acquiring an additional 920,521 shares during the last quarter. Northern Trust Corp boosted its position in shares of WestRock by 4.1% in the second quarter. Northern Trust Corp now owns 2,893,547 shares of the basic materials company’s stock worth $164,991,000 after acquiring an additional 113,015 shares during the last quarter. Investec Asset Management LTD boosted its position in shares of WestRock by 4.6% in the second quarter. Investec Asset Management LTD now owns 2,464,357 shares of the basic materials company’s stock worth $140,518,000 after acquiring an additional 108,110 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of WestRock by 67.4% in the second quarter. Millennium Management LLC now owns 1,410,755 shares of the basic materials company’s stock worth $80,441,000 after acquiring an additional 567,809 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.
Several research firms recently issued reports on WRK. Zacks Investment Research reissued a “hold” rating on shares of WestRock in a research report on Saturday, November 17th. ValuEngine raised shares of WestRock from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Citigroup decreased their target price on shares of WestRock from $75.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, October 11th. TheStreet cut shares of WestRock from a “b-” rating to a “c” rating in a research report on Friday, October 26th. Finally, Barclays reduced their price target on shares of WestRock from $64.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. WestRock has an average rating of “Hold” and an average target price of $64.50.
WestRock (NYSE:WRK) last announced its quarterly earnings results on Monday, November 5th. The basic materials company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.28 billion. WestRock had a net margin of 11.70% and a return on equity of 9.26%. WestRock’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 earnings per share. As a group, equities research analysts anticipate that WestRock Co will post 4.58 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 19th. Shareholders of record on Friday, November 9th were given a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 4.02%. This is a boost from WestRock’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, November 8th. WestRock’s payout ratio is 44.50%.
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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