American International Group Inc. Sells 577 Shares of WestRock (NYSE:WRK)

American International Group Inc. reduced its stake in WestRock (NYSE:WRK) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,216 shares of the basic materials company’s stock after selling 577 shares during the period. American International Group Inc.’s holdings in WestRock were worth $2,791,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Virtu Financial LLC bought a new position in shares of WestRock in the fourth quarter worth $231,000. V Square Quantitative Management LLC boosted its stake in WestRock by 17.0% during the fourth quarter. V Square Quantitative Management LLC now owns 8,987 shares of the basic materials company’s stock valued at $373,000 after buying an additional 1,306 shares during the period. Readystate Asset Management LP boosted its stake in WestRock by 40.7% during the fourth quarter. Readystate Asset Management LP now owns 190,400 shares of the basic materials company’s stock valued at $7,905,000 after buying an additional 55,100 shares during the period. Westchester Capital Management LLC boosted its stake in WestRock by 297.7% during the fourth quarter. Westchester Capital Management LLC now owns 3,065,129 shares of the basic materials company’s stock valued at $127,264,000 after buying an additional 2,294,371 shares during the period. Finally, Prelude Capital Management LLC boosted its stake in WestRock by 266.8% during the fourth quarter. Prelude Capital Management LLC now owns 102,669 shares of the basic materials company’s stock valued at $4,263,000 after buying an additional 74,677 shares during the period. 83.38% of the stock is owned by institutional investors.

Insider Transactions at WestRock

In other news, insider John L. O’neal sold 6,965 shares of WestRock stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $51.47, for a total value of $358,488.55. Following the transaction, the insider now owns 60,491 shares in the company, valued at $3,113,471.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider John L. O’neal sold 6,965 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,113,471.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Denise R. Singleton sold 9,700 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.46, for a total value of $499,162.00. Following the transaction, the executive vice president now owns 74,946 shares in the company, valued at approximately $3,856,721.16. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on WRK shares. Wells Fargo & Company lifted their price objective on WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. StockNews.com started coverage on WestRock in a research note on Saturday, May 18th. They set a “hold” rating for the company. Truist Financial lifted their price objective on WestRock from $51.00 to $57.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Finally, Argus lifted their price target on WestRock from $50.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, WestRock has an average rating of “Hold” and a consensus price target of $48.80.

WestRock Trading Up 0.7 %

Shares of WRK stock opened at $51.09 on Tuesday. 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 business has a 50-day moving average price of $50.93 and a two-hundred day moving average price of $46.47. WestRock has a 12-month low of $27.33 and a 12-month high of $54.83. The firm has a market cap of $13.13 billion, a P/E ratio of 42.93, a price-to-earnings-growth ratio of 2.16 and a beta of 1.08.

WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.25 by $0.14. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.75 billion. WestRock had a return on equity of 5.85% and a net margin of 1.57%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. Equities analysts anticipate that WestRock will post 2.16 EPS for the current fiscal year.

WestRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th were issued a $0.3025 dividend. The ex-dividend date was Monday, May 13th. This represents a $1.21 annualized dividend and a dividend yield of 2.37%. WestRock’s dividend payout ratio is currently 101.68%.

WestRock Company Profile

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.