WestRock (NYSE:WRK) Sees Large Volume Increase

WestRock (NYSE:WRK) shares saw unusually-high trading volume on Tuesday . Approximately 1,135,777 shares traded hands during trading, a decline of 49% from the previous session’s volume of 2,244,404 shares.The stock last traded at $51.16 and had previously closed at $51.09.

Analyst Upgrades and Downgrades

WRK has been the subject of a number of research analyst reports. Argus increased their target price on shares of WestRock from $50.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Truist Financial raised their price target on shares of WestRock from $51.00 to $57.00 and gave the company a “hold” rating in a report on Thursday, May 30th. StockNews.com began coverage on shares of WestRock in a report on Saturday, May 18th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company raised their target price on WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $48.80.

WestRock Stock Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.34 and a quick ratio of 0.85. The firm has a market capitalization of $13.02 billion, a PE ratio of 43.01, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The stock has a 50-day moving average price of $50.93 and a 200-day moving average price of $46.47.

WestRock (NYSE:WRK) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.14. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.75 billion. WestRock had a return on equity of 5.85% and a net margin of 1.57%. WestRock’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 earnings per share. On average, research analysts expect that WestRock will post 2.16 EPS for the current fiscal year.

WestRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were issued a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.39%. The ex-dividend date was Monday, May 13th. WestRock’s dividend payout ratio is currently 101.68%.

Insider Activity at WestRock

In related news, insider John L. O’neal sold 6,965 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $51.47, for a total value of $358,488.55. Following the completion of the sale, the insider now directly owns 60,491 shares of the company’s stock, valued at $3,113,471.77. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Denise R. Singleton sold 9,700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.46, for a total transaction of $499,162.00. Following the completion of the transaction, the executive vice president now directly owns 74,946 shares of the company’s stock, valued at $3,856,721.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John L. O’neal sold 6,965 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.47, for a total value of $358,488.55. Following the transaction, the insider now directly owns 60,491 shares of the company’s stock, valued at $3,113,471.77. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WestRock

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Advisors LLC boosted its position in shares of WestRock by 92.1% during the first quarter. Cetera Advisors LLC now owns 21,331 shares of the basic materials company’s stock worth $1,055,000 after buying an additional 10,229 shares during the period. Cetera Investment Advisers boosted its position in shares of WestRock by 119.6% during the first quarter. Cetera Investment Advisers now owns 37,169 shares of the basic materials company’s stock worth $1,838,000 after buying an additional 20,245 shares during the period. Redwood Grove Capital LLC boosted its position in shares of WestRock by 3.4% during the first quarter. Redwood Grove Capital LLC now owns 300,950 shares of the basic materials company’s stock worth $14,882,000 after buying an additional 10,000 shares during the period. Swedbank AB acquired a new position in shares of WestRock during the first quarter worth approximately $9,732,000. Finally, Wahed Invest LLC boosted its position in shares of WestRock by 12.4% during the first quarter. Wahed Invest LLC now owns 4,870 shares of the basic materials company’s stock worth $241,000 after buying an additional 536 shares during the period. 83.38% of the stock is currently owned by institutional investors and hedge funds.

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.