Gateway Investment Advisers LLC decreased its holdings in shares of Westrock Co (NYSE:WRK) by 0.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 243,421 shares of the basic materials company’s stock after selling 331 shares during the period. Gateway Investment Advisers LLC owned about 0.10% of Westrock worth $9,335,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in WRK. LSV Asset Management lifted its stake in Westrock by 333.2% during the fourth quarter. LSV Asset Management now owns 5,851,396 shares of the basic materials company’s stock worth $220,948,000 after purchasing an additional 4,500,770 shares during the period. Norges Bank bought a new position in shares of Westrock in the fourth quarter valued at approximately $141,233,000. Oregon Public Employees Retirement Fund raised its stake in shares of Westrock by 4,262.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,767,164 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 3,680,813 shares during the last quarter. BlackRock Inc. raised its stake in shares of Westrock by 12.3% in the fourth quarter. BlackRock Inc. now owns 22,410,471 shares of the basic materials company’s stock valued at $846,221,000 after acquiring an additional 2,445,795 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Westrock by 64.1% in the fourth quarter. Bank of New York Mellon Corp now owns 3,530,156 shares of the basic materials company’s stock valued at $133,298,000 after acquiring an additional 1,379,176 shares during the last quarter. Hedge funds and other institutional investors own 87.89% of the company’s stock.
In other news, Director Currey M. Russell purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, February 28th. The stock was bought at an average price of $37.50 per share, with a total value of $187,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Ward H. Dickson purchased 2,645 shares of the firm’s stock in a transaction dated Monday, February 4th. The stock was purchased at an average cost of $37.94 per share, with a total value of $100,351.30. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by insiders.
WRK traded up $0.77 during trading on Friday, reaching $39.29. 2,089,835 shares of the company’s stock were exchanged, compared to its average volume of 2,805,972. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.84 and a current ratio of 1.29. Westrock Co has a fifty-two week low of $35.20 and a fifty-two week high of $62.80. The firm has a market capitalization of $10.03 billion, a PE ratio of 9.61, a P/E/G ratio of 1.74 and a beta of 1.59.
Westrock (NYSE:WRK) last released its earnings results on Tuesday, April 30th. The basic materials company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.17. Westrock had a net margin of 4.89% and a return on equity of 9.03%. The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities analysts forecast that Westrock Co will post 3.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Thursday, May 9th. Westrock’s dividend payout ratio is presently 44.50%.
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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.
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