Mason Street Advisors LLC Purchases New Stake in WestRock Co. (WRK)
Mason Street Advisors LLC purchased a new position in WestRock Co. (NYSE:WRK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 34,025 shares of the company’s stock, valued at approximately $1,323,000.
A number of other institutional investors also recently added to or reduced their stakes in WRK. Legal & General Group Plc increased its position in shares of WestRock by 1.6% in the first quarter. Legal & General Group Plc now owns 1,112,234 shares of the company’s stock worth $43,406,000 after buying an additional 17,865 shares in the last quarter. Norges Bank acquired a new position in shares of WestRock during the fourth quarter worth $115,688,000. Nomura Asset Management Co. Ltd. increased its position in shares of WestRock by 3.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,974 shares of the company’s stock worth $1,459,000 after buying an additional 1,080 shares in the last quarter. Geode Capital Management LLC increased its position in shares of WestRock by 1.0% in the first quarter. Geode Capital Management LLC now owns 2,113,783 shares of the company’s stock worth $82,334,000 after buying an additional 21,346 shares in the last quarter. Finally, National Pension Service increased its position in shares of WestRock by 4.4% in the first quarter. National Pension Service now owns 160,199 shares of the company’s stock worth $6,253,000 after buying an additional 6,807 shares in the last quarter. 90.32% of the stock is owned by institutional investors.
Shares of WestRock Co. (NYSE:WRK) opened at 47.24 on Wednesday. The company has a 50-day moving average of $45.99 and a 200 day moving average of $41.16. WestRock Co. has a one year low of $29.73 and a one year high of $57.85. The stock’s market cap is $11.75 billion.
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. WestRock had a negative net margin of 1.27% and a positive return on equity of 6.71%. The company earned $3.60 million during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the company earned $1.15 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, analysts predict that WestRock Co. will post $3.96 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 22nd. Stockholders of record on Friday, August 12th were issued a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.50 annualized dividend and a dividend yield of 3.18%. WestRock’s dividend payout ratio is currently -202.70%.
A number of equities analysts have weighed in on the stock. Deutsche Bank AG set a $50.00 target price on shares of WestRock and gave the company a “buy” rating in a research note on Friday, August 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $52.00 target price on shares of WestRock in a research note on Friday, August 5th. Bank of America Corp. reaffirmed a “hold” rating and set a $45.00 target price on shares of WestRock in a research note on Friday, August 5th. Jefferies Group reaffirmed a “buy” rating on shares of WestRock in a research note on Monday, August 22nd. Finally, Credit Suisse Group AG set a $50.00 target price on shares of WestRock and gave the company a “buy” rating in a research note on Friday, August 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $52.83.
In other news, Director John A. Luke, Jr. sold 188,103 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $46.62, for a total value of $8,769,361.86. Following the completion of the sale, the director now owns 837,343 shares in the company, valued at approximately $39,036,930.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.41% of the stock is currently owned by insiders.
WestRock Company Profile
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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