WestRock (NYSE:WRK) Declares Quarterly Dividend of $0.30

WestRock (NYSE:WRK) announced a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Stockholders of record on Tuesday, May 14th will be given a dividend of 0.3025 per share by the basic materials company on Wednesday, May 22nd. This represents a $1.21 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Monday, May 13th.

WestRock has raised its dividend payment by an average of 1.9% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. WestRock has a payout ratio of 35.8% meaning its dividend is sufficiently covered by earnings. Analysts expect WestRock to earn $3.33 per share next year, which means the company should continue to be able to cover its $1.21 annual dividend with an expected future payout ratio of 36.3%.

WestRock Price Performance

NYSE WRK traded up $1.29 during trading hours on Monday, reaching $48.54. 1,675,158 shares of the company’s stock traded hands, compared to its average volume of 2,111,645. WestRock has a 52-week low of $26.85 and a 52-week high of $49.67. The firm has a 50-day simple moving average of $47.18 and a 200 day simple moving average of $42.38. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81.

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 analysts’ consensus estimates of $0.35 by ($0.15). The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.79 billion. WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.55 earnings per share. As a group, equities analysts anticipate that WestRock will post 1.93 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Truist Financial raised their price objective on shares of WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. StockNews.com initiated coverage on shares of WestRock in a research note on Wednesday, April 24th. They issued a “hold” rating for the company. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $45.00 price target (up from $42.00) on shares of WestRock in a research note on Thursday, January 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $43.00.

Insider Activity at WestRock

In related news, insider Vicki L. Lostetter sold 3,500 shares of the business’s stock in a transaction that occurred 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 directly owns 92,117 shares in the company, valued at $3,939,844.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.49% of the stock is currently owned by company insiders.

WestRock Company Profile

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.