WestRock Co (NYSE:WRK) declared a quarterly dividend on Friday, April 21st. Investors of record on Friday, May 5th will be paid a dividend of 0.40 per share by the basic materials company on Monday, May 15th. This represents a $1.60 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Wednesday, May 3rd.
Shares of WestRock (NYSE:WRK) traded down 0.11% during trading on Friday, hitting $53.02. The company had a trading volume of 1,619,962 shares. The firm has a market capitalization of $13.32 billion, a P/E ratio of 98.55 and a beta of 1.27. WestRock has a 52-week low of $34.45 and a 52-week high of $56.12. The stock’s 50-day moving average is $51.78 and its 200 day moving average is $50.97.
WestRock (NYSE:WRK) last issued its quarterly earnings data on Tuesday, January 24th. The basic materials company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.01. WestRock had a net margin of 0.96% and a return on equity of 6.32%. The business earned $3.45 billion during the quarter, compared to analysts’ expectations of $3.48 billion. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts predict that WestRock will post $2.64 earnings per share for the current fiscal year.
WRK has been the subject of a number of recent research reports. BMO Capital Markets reissued a “buy” rating and set a $62.00 price objective on shares of WestRock in a research note on Friday, April 7th. Jefferies Group LLC reissued a “buy” rating and set a $65.00 price objective on shares of WestRock in a research note on Tuesday, March 7th. Bank of America Corp reissued a “buy” rating and set a $66.00 price objective (up from $65.00) on shares of WestRock in a research note on Tuesday, February 21st. Credit Suisse Group AG set a $66.00 price objective on shares of WestRock and gave the stock a “buy” rating in a research note on Thursday, February 16th. Finally, Citigroup Inc reissued a “buy” rating on shares of WestRock in a research note on Friday, April 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. WestRock has an average rating of “Buy” and an average price target of $59.20.
In related news, insider Arnold Stephen Meadows sold 8,900 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $54.44, for a total transaction of $484,516.00. Following the sale, the insider now owns 86,939 shares in the company, valued at $4,732,959.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John A. Luke, Jr. sold 55,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $55.14, for a total transaction of $3,032,700.00. Following the sale, the director now owns 570,435 shares in the company, valued at approximately $31,453,785.90. The disclosure for this sale can be found here. 2.68% of the stock is currently owned by company insiders.
WestRock Company is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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