Northern Trust Corp increased its holdings in Westrock Co (NYSE:WRK) by 0.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,940,638 shares of the basic materials company’s stock after purchasing an additional 11,589 shares during the period. Northern Trust Corp’s holdings in Westrock were worth $112,773,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Morgan Stanley grew its holdings in Westrock by 18.3% in the third quarter. Morgan Stanley now owns 821,256 shares of the basic materials company’s stock valued at $43,888,000 after purchasing an additional 126,913 shares during the period. TD Asset Management Inc. grew its holdings in Westrock by 2.3% in the fourth quarter. TD Asset Management Inc. now owns 94,177 shares of the basic materials company’s stock valued at $3,556,000 after purchasing an additional 2,109 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Westrock by 28.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 18,167 shares of the basic materials company’s stock valued at $686,000 after purchasing an additional 4,075 shares during the period. Parallel Advisors LLC grew its holdings in Westrock by 64.5% in the fourth quarter. Parallel Advisors LLC now owns 719 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 282 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Westrock by 5.1% in the fourth quarter. Victory Capital Management Inc. now owns 272,757 shares of the basic materials company’s stock valued at $10,299,000 after purchasing an additional 13,258 shares during the period. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Shares of NYSE:WRK opened at $37.16 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.77 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $9.33 billion, a PE ratio of 9.09, a PEG ratio of 2.00 and a beta of 1.61. Westrock Co has a 1 year low of $32.01 and a 1 year high of $60.86.

Westrock (NYSE:WRK) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.17. The firm had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.67 billion. Westrock had a return on equity of 9.03% and a net margin of 4.89%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. Research analysts anticipate that Westrock Co will post 4.02 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 10th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Thursday, May 9th. Westrock’s dividend payout ratio is presently 44.50%.

Several analysts have commented on WRK shares. Deutsche Bank lowered Westrock from a “buy” rating to a “hold” rating and dropped their price objective for the company from $51.00 to $42.00 in a report on Wednesday, April 17th. KeyCorp reissued a “hold” rating on shares of Westrock in a report on Wednesday, May 1st. Finally, UBS Group started coverage on Westrock in a report on Wednesday, May 15th. They issued a “buy” rating and a $47.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $49.56.

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About Westrock

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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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