Candriam Luxembourg S.C.A. reduced its holdings in Westrock Co (NYSE:WRK) by 75.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,310 shares of the basic materials company’s stock after selling 53,427 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Westrock were worth $489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FDx Advisors Inc. purchased a new position in shares of Westrock in the first quarter valued at approximately $72,005,000. Norges Bank purchased a new position in shares of Westrock in the fourth quarter valued at approximately $106,859,000. Prudential PLC purchased a new position in shares of Westrock in the first quarter valued at approximately $60,640,000. Capital Research Global Investors purchased a new position in shares of Westrock in the first quarter valued at approximately $52,588,000. Finally, DDD Partners LLC purchased a new position in shares of Westrock in the first quarter valued at approximately $17,858,000. 83.54% of the stock is currently owned by institutional investors.

WRK stock opened at $26.86 on Friday. The business has a fifty day moving average of $28.48 and a two-hundred day moving average of $31.38. The company has a quick ratio of 1.07, a current ratio of 1.75 and a debt-to-equity ratio of 0.91. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 8.19 and a beta of 1.49. Westrock Co has a 52-week low of $21.50 and a 52-week high of $44.39.

Westrock (NYSE:WRK) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.06. The company had revenue of $4.45 billion during the quarter, compared to analysts’ expectations of $4.50 billion. Westrock had a return on equity of 7.98% and a net margin of 4.67%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.80 earnings per share. As a group, sell-side analysts anticipate that Westrock Co will post 2.23 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.80 annualized dividend and a yield of 2.98%. Westrock’s dividend payout ratio (DPR) is 20.10%.

Several research firms have recently weighed in on WRK. BMO Capital Markets decreased their target price on Westrock from $42.00 to $35.00 and set a “market perform” rating on the stock in a research report on Wednesday, May 6th. KeyCorp reduced their price objective on Westrock from $27.00 to $23.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 5th. Deutsche Bank reduced their price objective on Westrock from $42.00 to $34.00 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. Morgan Stanley initiated coverage on Westrock in a research report on Monday, June 15th. They set an “equal weight” rating and a $28.00 price objective on the stock. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $31.00 price objective on shares of Westrock in a research report on Thursday, April 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $37.82.

Westrock 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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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