WestRock Co. (WRK) Sees Large Volume Increase
WestRock Co. (NYSE:WRK) saw unusually-strong trading volume on Friday . Approximately 2,207,462 shares traded hands during trading, an increase of 7% from the previous session’s volume of 2,062,085 shares.The stock last traded at $47.98 and had previously closed at $47.07.
A number of equities analysts have weighed in on WRK shares. Jefferies Group reiterated a “buy” rating on shares of WestRock in a research note on Monday. Deutsche Bank AG reiterated a “buy” rating and set a $46.00 price objective on shares of WestRock in a research note on Wednesday, June 15th. Barclays PLC lifted their price objective on WestRock from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 11th. BMO Capital Markets reiterated a “buy” rating and set a $52.00 price objective on shares of WestRock in a research note on Friday, August 5th. Finally, Zacks Investment Research lowered WestRock from a “hold” rating to a “strong sell” rating in a research note on Monday, July 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $54.50.
The stock’s market cap is $11.95 billion. The stock has a 50 day moving average of $43.01 and a 200-day moving average of $39.27.
WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.05. During the same quarter in the prior year, the company earned $1.15 EPS. The company earned $3.60 million during the quarter, compared to analyst estimates of $3.70 billion. The business’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts anticipate that WestRock Co. will post $3.96 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Friday, August 12th were paid a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.50 annualized dividend and a yield of 3.12%.
An institutional investor recently raised its position in WestRock stock. American International Group Inc. increased its stake in shares of WestRock Co. (NYSE:WRK) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,831 shares of the company’s stock after buying an additional 401 shares during the period. American International Group Inc.’s holdings in WestRock were worth $4,600,000 at the end of the most recent reporting period.
Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.
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