Bfsg LLC Sells 3,415 Shares of WestRock (NYSE:WRK)

Bfsg LLC lowered its holdings in shares of WestRock (NYSE:WRK) by 36.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,955 shares of the basic materials company’s stock after selling 3,415 shares during the quarter. Bfsg LLC’s holdings in WestRock were worth $247,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pentwater Capital Management LP bought a new stake in shares of WestRock during the 3rd quarter worth approximately $61,378,000. Segantii Capital Management Ltd bought a new stake in shares of WestRock during the 3rd quarter worth approximately $59,428,000. Assenagon Asset Management S.A. lifted its stake in shares of WestRock by 6,024.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,290,708 shares of the basic materials company’s stock worth $46,207,000 after acquiring an additional 1,269,632 shares during the last quarter. FMR LLC lifted its stake in shares of WestRock by 140.3% during the 3rd quarter. FMR LLC now owns 2,173,923 shares of the basic materials company’s stock worth $77,826,000 after acquiring an additional 1,269,375 shares during the last quarter. Finally, Westchester Capital Management LLC bought a new stake in shares of WestRock during the 3rd quarter worth approximately $27,593,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

WestRock Price Performance

Shares of WestRock stock traded up $0.38 during mid-day trading on Wednesday, reaching $47.48. 1,846,149 shares of the stock traded hands, compared to its average volume of 2,118,264. The business has a 50-day moving average of $46.94 and a 200 day moving average of $42.16. WestRock has a fifty-two week low of $26.85 and a fifty-two week high of $49.67. The stock has a market capitalization of $12.26 billion, a PE ratio of -7.03, a PEG ratio of 4.49 and a beta of 1.10. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81.

WestRock (NYSE:WRK) last released its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The company had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same period last year, the firm posted $0.55 earnings per share. WestRock’s revenue was down 6.2% on a year-over-year basis. On average, analysts predict that WestRock will post 1.93 EPS for the current year.

WestRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Stockholders of record on Friday, February 9th were given a dividend of $0.3025 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.21 annualized dividend and a dividend yield of 2.55%. WestRock’s dividend payout ratio (DPR) is currently -18.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WRK shares. Truist Financial lifted their target price on WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, January 4th. Wells Fargo & Company reissued an “equal weight” rating and issued a $45.00 price objective (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. Seaport Res Ptn cut WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. StockNews.com began coverage on WestRock in a report on Wednesday. They issued a “hold” rating for the company. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, WestRock presently has a consensus rating of “Hold” and a consensus target price of $43.00.

Insider Transactions at WestRock

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total value of $149,695.00. Following the transaction, the insider now directly owns 92,117 shares in the company, valued at $3,939,844.09. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.49% of the company’s stock.

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.