Principal Financial Group Inc. reduced its position in shares of WestRock Co. (NYSE:WRK) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,037,467 shares of the company’s stock after selling 20,983 shares during the period. Principal Financial Group Inc. owned approximately 0.40% of WestRock worth $40,326,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in WRK. Botty Investors LLC purchased a new stake in shares of WestRock during the second quarter worth $137,000. Societe Generale purchased a new stake in shares of WestRock during the second quarter worth $201,000. Advisor Partners LLC purchased a new stake in shares of WestRock during the first quarter worth $203,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of WestRock by 16.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,501 shares of the company’s stock worth $215,000 after buying an additional 784 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of WestRock by 6.2% in the first quarter. IFP Advisors Inc now owns 5,660 shares of the company’s stock worth $221,000 after buying an additional 328 shares during the period. 90.31% of the stock is currently owned by institutional investors.
Shares of WestRock Co. (NYSE:WRK) traded up 0.98% during mid-day trading on Monday, hitting $48.19. The stock had a trading volume of 382,246 shares. WestRock Co. has a 12-month low of $29.73 and a 12-month high of $59.23. The stock’s market cap is $11.99 billion. The firm’s 50-day moving average price is $45.40 and its 200 day moving average price is $40.76.
WestRock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.05. WestRock had a positive return on equity of 6.71% and a negative net margin of 1.27%. The company earned $3.60 million during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the company earned $1.15 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Equities analysts forecast that WestRock Co. will post $3.96 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 22nd. Shareholders of record on Friday, August 12th were given a $0.375 dividend. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.14%. WestRock’s dividend payout ratio is currently -202.70%.
WRK has been the subject of a number of recent research reports. Jefferies Group restated a “buy” rating on shares of WestRock in a research note on Monday, August 22nd. Deutsche Bank AG restated a “buy” rating and set a $46.00 price objective on shares of WestRock in a research note on Wednesday, June 15th. Barclays PLC upped their price objective on WestRock from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 11th. BMO Capital Markets restated a “buy” rating and set a $52.00 price objective on shares of WestRock in a research note on Friday, August 5th. Finally, Citigroup Inc. upped their price objective on WestRock from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, August 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $52.83.
In other WestRock news, Director John A. Luke, Jr. sold 188,103 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $46.62, for a total value of $8,769,361.86. Following the completion of the sale, the director now owns 837,343 shares in the company, valued at approximately $39,036,930.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.41% of the stock is owned by company insiders.
WestRock Company Profile
Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.
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