WestRock (WRK) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in shares of WestRock (NYSE:WRK) by 26.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,855 shares of the basic materials company’s stock after buying an additional 5,970 shares during the quarter. SG Americas Securities LLC’s holdings in WestRock were worth $1,852,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Contravisory Investment Management Inc. raised its stake in shares of WestRock by 1,273.0% during the 4th quarter. Contravisory Investment Management Inc. now owns 63,336 shares of the basic materials company’s stock worth $4,003,000 after buying an additional 58,723 shares during the period. Convergence Investment Partners LLC acquired a new position in shares of WestRock during the 4th quarter worth approximately $1,571,000. OLD Dominion Capital Management Inc. raised its stake in shares of WestRock by 18.0% during the 4th quarter. OLD Dominion Capital Management Inc. now owns 10,069 shares of the basic materials company’s stock worth $636,000 after buying an additional 1,535 shares during the period. Public Employees Retirement Association of Colorado raised its stake in shares of WestRock by 3.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 50,663 shares of the basic materials company’s stock worth $3,202,000 after buying an additional 1,691 shares during the period. Finally, Conning Inc. raised its stake in shares of WestRock by 9,098.7% during the 4th quarter. Conning Inc. now owns 445,954 shares of the basic materials company’s stock worth $28,189,000 after buying an additional 441,106 shares during the period. 87.28% of the stock is owned by institutional investors and hedge funds.

Shares of WRK opened at $62.28 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 0.80. WestRock has a one year low of $60.86 and a one year high of $61.67. The company has a market cap of $15.61 billion, a P/E ratio of 23.77, a PEG ratio of 1.11 and a beta of 1.40.

WestRock (NYSE:WRK) last issued its earnings results on Friday, April 27th. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. The company had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $4.10 billion. WestRock had a return on equity of 7.84% and a net margin of 12.01%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. equities analysts predict that WestRock will post 4.07 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 14th. Shareholders of record on Friday, May 4th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, May 3rd. WestRock’s payout ratio is currently 65.65%.

WRK has been the subject of several research reports. Deutsche Bank set a $78.00 price target on WestRock and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Royal Bank of Canada reiterated a “buy” rating and set a $85.00 price target on shares of WestRock in a research report on Tuesday, January 30th. Zacks Investment Research upgraded WestRock from a “hold” rating to a “strong-buy” rating and set a $74.00 price target for the company in a research report on Saturday, April 7th. Citigroup boosted their price target on WestRock from $80.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Finally, ValuEngine cut WestRock from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $75.90.

In other WestRock news, Director John A. Luke, Jr. sold 75,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $66.95, for a total value of $5,021,250.00. Following the completion of the sale, the director now directly owns 534,159 shares in the company, valued at approximately $35,761,945.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John A. Luke, Jr. sold 50,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $65.56, for a total value of $3,278,000.00. Following the completion of the sale, the director now owns 545,435 shares of the company’s stock, valued at $35,758,718.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 190,831 shares of company stock valued at $12,656,836. 2.68% of the stock is owned by company insiders.

WestRock Company 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.

Institutional Ownership by Quarter for WestRock (NYSE:WRK)

Receive News & Ratings for WestRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WestRock and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply