NN Investment Partners Holdings N.V. cut its position in WestRock Co (NYSE:WRK) by 21.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,399 shares of the basic materials company’s stock after selling 21,048 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in WestRock were worth $4,083,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CIBC World Markets Inc. boosted its stake in WestRock by 9.4% in the 2nd quarter. CIBC World Markets Inc. now owns 10,969 shares of the basic materials company’s stock valued at $625,000 after purchasing an additional 940 shares during the period. Clear Harbor Asset Management LLC boosted its stake in WestRock by 1.9% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 52,032 shares of the basic materials company’s stock valued at $2,967,000 after purchasing an additional 990 shares during the period. Greenleaf Trust boosted its stake in WestRock by 24.9% in the 2nd quarter. Greenleaf Trust now owns 5,309 shares of the basic materials company’s stock valued at $303,000 after purchasing an additional 1,059 shares during the period. Canal Capital Management LLC boosted its stake in WestRock by 1.1% in the 3rd quarter. Canal Capital Management LLC now owns 111,068 shares of the basic materials company’s stock valued at $5,935,000 after purchasing an additional 1,181 shares during the period. Finally, Telemus Capital LLC boosted its stake in WestRock by 1.4% in the 2nd quarter. Telemus Capital LLC now owns 85,570 shares of the basic materials company’s stock valued at $4,879,000 after purchasing an additional 1,209 shares during the period. Institutional investors and hedge funds own 85.10% of the company’s stock.
Several analysts recently issued reports on the company. TheStreet downgraded WestRock from a “b-” rating to a “c” rating in a research note on Friday, October 26th. Seaport Global Securities assumed coverage on WestRock in a research note on Tuesday, October 23rd. They issued a “buy” rating and a $52.00 price target for the company. ValuEngine upgraded WestRock from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. BMO Capital Markets downgraded WestRock from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $80.00 to $54.00 in a research note on Tuesday, October 9th. Finally, Zacks Investment Research cut WestRock from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $66.42.
WestRock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.16 billion. WestRock had a return on equity of 8.49% and a net margin of 11.31%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.74 EPS. As a group, equities research analysts forecast that WestRock Co will post 4.04 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Friday, November 9th will be issued a $0.455 dividend. The ex-dividend date is Thursday, November 8th. This is a boost from WestRock’s previous quarterly dividend of $0.43. This represents a $1.82 annualized dividend and a yield of 4.07%. WestRock’s payout ratio is currently 65.65%.
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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