M&G Investment Management Ltd. Sells 16,119 Shares of WestRock (NYSE:WRK)

M&G Investment Management Ltd. decreased its position in shares of WestRock (NYSE:WRK) by 6.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,740 shares of the basic materials company’s stock after selling 16,119 shares during the period. M&G Investment Management Ltd. owned approximately 0.09% of WestRock worth $9,439,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. NBC Securities Inc. purchased a new position in shares of WestRock in the 3rd quarter worth approximately $27,000. International Assets Investment Management LLC increased its position in shares of WestRock by 268.7% in the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock valued at $33,000 after buying an additional 575 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in WestRock by 59.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after buying an additional 320 shares in the last quarter. Clear Street Markets LLC grew its stake in WestRock by 198.5% during the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 665 shares in the last quarter. Finally, First United Bank & Trust acquired a new stake in WestRock during the fourth quarter worth about $43,000. Institutional investors own 83.38% of the company’s stock.

Insider Transactions at WestRock

In other WestRock news, insider John L. O’neal sold 6,965 shares of the business’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 transaction, the insider now owns 60,491 shares of the company’s stock, valued at $3,113,471.77. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Denise R. Singleton sold 9,700 shares of the business’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 sale, the executive vice president now owns 74,946 shares in the company, valued at $3,856,721.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John L. O’neal sold 6,965 shares of WestRock 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 in the company, valued at approximately $3,113,471.77. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

WestRock Stock Up 1.8 %

WRK stock traded up $0.91 during trading hours on Wednesday, hitting $52.57. The company’s stock had a trading volume of 1,156,714 shares, compared to its average volume of 2,225,960. WestRock has a 12 month low of $26.85 and a 12 month high of $52.67. The stock has a 50 day moving average price of $48.67 and a two-hundred day moving average price of $43.64. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $13.51 billion, a PE ratio of 43.82, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10.

WestRock (NYSE:WRK) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 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 analyst estimates of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, equities research analysts expect that WestRock will post 2.11 earnings per share for the current year.

WestRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be given a $0.3025 dividend. The ex-dividend date is Monday, May 13th. This represents a $1.21 annualized dividend and a yield of 2.30%. WestRock’s dividend payout ratio is currently 101.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Seaport Res Ptn cut shares of WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. StockNews.com assumed coverage on WestRock in a research note on Friday, May 10th. They set a “hold” rating for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $42.00 price objective on shares of WestRock in a research report on Friday, February 2nd. Argus upped their price objective on shares of WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Wells Fargo & Company upped 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 assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.60.

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.