WestRock (NYSE:WRK) Shares Acquired by Segantii Capital Management Ltd

Segantii Capital Management Ltd lifted its stake in WestRock (NYSE:WRK) by 75.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,907,561 shares of the basic materials company’s stock after acquiring an additional 1,247,561 shares during the quarter. WestRock makes up approximately 6.4% of Segantii Capital Management Ltd’s investment portfolio, making the stock its 2nd largest position. Segantii Capital Management Ltd owned approximately 1.13% of WestRock worth $120,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pentwater Capital Management LP bought a new position in shares of WestRock during the third quarter worth approximately $61,378,000. Assenagon Asset Management S.A. grew its stake in shares of WestRock by 6,024.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,290,708 shares of the basic materials company’s stock valued at $46,207,000 after acquiring an additional 1,269,632 shares in the last quarter. FMR LLC increased its position in WestRock by 140.3% during the third 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 period. Westchester Capital Management LLC bought a new stake in WestRock in the 3rd quarter valued at about $27,593,000. Finally, Deutsche Bank AG grew its position in shares of WestRock by 70.4% during the 3rd quarter. Deutsche Bank AG now owns 1,825,189 shares of the basic materials company’s stock worth $65,342,000 after purchasing an additional 753,828 shares in the last quarter. Institutional investors own 83.38% of the company’s stock.

WestRock Trading Down 0.2 %

NYSE:WRK traded down $0.11 during mid-day trading on Thursday, reaching $51.70. 3,122,966 shares of the company’s stock traded hands, compared to its average volume of 2,177,279. WestRock has a 12-month low of $26.85 and a 12-month high of $52.13. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 43.72, a PEG ratio of 4.77 and a beta of 1.10. The company has a 50 day moving average price of $48.16 and a 200-day moving average price of $43.11. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.34 and a quick ratio of 0.85.

WestRock (NYSE:WRK) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.75 billion. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, sell-side analysts predict that WestRock will post 1.93 earnings per share for the current year.

WestRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th will be paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, May 13th. WestRock’s dividend payout ratio (DPR) is 101.68%.

Insiders Place Their Bets

In other WestRock news, insider John L. O’neal sold 6,965 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the transaction, the insider now owns 60,491 shares in the company, valued at approximately $3,113,471.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider John L. O’neal sold 6,965 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the transaction, the insider now owns 60,491 shares in the company, valued at approximately $3,113,471.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Denise R. Singleton sold 9,700 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.46, for a total transaction of $499,162.00. Following the completion of the sale, the executive vice president now directly owns 74,946 shares of the company’s stock, valued at $3,856,721.16. The disclosure for this sale can be found here. Insiders sold 20,165 shares of company stock worth $1,007,346 in the last three months. 0.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com began coverage on shares of WestRock in a research report on Thursday, May 2nd. They set a “hold” rating on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a research report on Friday, February 2nd. Argus lifted their price objective on shares of WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday. Seaport Res Ptn cut WestRock from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, Wells Fargo & Company increased their price objective on shares of WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $47.60.

WestRock Profile

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.