CapWealth Advisors LLC Sells 27,550 Shares of WestRock (NYSE:WRK)

CapWealth Advisors LLC lessened its holdings in WestRock (NYSE:WRK) by 13.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 175,615 shares of the basic materials company’s stock after selling 27,550 shares during the quarter. CapWealth Advisors LLC’s holdings in WestRock were worth $7,292,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in shares of WestRock by 21.8% in the 4th quarter. Federated Hermes Inc. now owns 32,148 shares of the basic materials company’s stock worth $1,335,000 after buying an additional 5,748 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of WestRock by 6.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 23,710 shares of the basic materials company’s stock worth $984,000 after purchasing an additional 1,421 shares during the last quarter. Strs Ohio lifted its stake in shares of WestRock by 4.2% during the 4th quarter. Strs Ohio now owns 46,987 shares of the basic materials company’s stock worth $1,950,000 after purchasing an additional 1,883 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in WestRock in the fourth quarter valued at about $644,000. Finally, Baystate Wealth Management LLC raised its stake in WestRock by 42.3% in the fourth quarter. Baystate Wealth Management LLC now owns 1,700 shares of the basic materials company’s stock valued at $71,000 after buying an additional 505 shares during the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

WestRock Trading Up 1.6 %

Shares of WRK traded up $0.74 on Thursday, reaching $47.97. The stock had a trading volume of 680,078 shares, compared to its average volume of 2,121,344. WestRock has a twelve month low of $26.85 and a twelve month high of $49.67. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.55. The firm has a 50-day moving average of $46.53 and a 200 day moving average of $41.79.

WestRock (NYSE:WRK) last issued its quarterly earnings results 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 business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.79 billion. WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. As a group, sell-side analysts predict that WestRock will post 1.95 EPS for the current fiscal year.

WestRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 21st. Investors of record on Friday, February 9th were issued a $0.3025 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.21 annualized dividend and a yield of 2.52%. WestRock’s dividend payout ratio is currently -18.01%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WRK shares. 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. Truist Financial raised their target price on WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. Seaport Res Ptn downgraded WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Wells Fargo & Company restated an “equal weight” rating and issued a $45.00 target price (up previously from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Finally, StockNews.com assumed coverage on WestRock in a research report on Tuesday. They set a “hold” rating on the stock. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $42.40.

Insider Activity at WestRock

In other news, insider Vicki L. Lostetter sold 3,500 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.49% of the stock is owned by insiders.

About WestRock

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.