Westrock Co (WRK) Holdings Cut by Uniplan Investment Counsel Inc.
Uniplan Investment Counsel Inc. trimmed its position in shares of Westrock Co (NYSE:WRK) by 10.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 84,661 shares of the basic materials company’s stock after selling 9,524 shares during the quarter. Uniplan Investment Counsel Inc.’s holdings in Westrock were worth $3,196,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in Westrock by 64.5% during the fourth quarter. Parallel Advisors LLC now owns 719 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 282 shares during the period. Kings Point Capital Management bought a new stake in Westrock during the fourth quarter valued at about $30,000. JOYN Advisors Inc. boosted its holdings in Westrock by 245.4% during the fourth quarter. JOYN Advisors Inc. now owns 867 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 616 shares during the period. Oakworth Capital Inc. boosted its holdings in Westrock by 87.9% during the fourth quarter. Oakworth Capital Inc. now owns 930 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 435 shares during the period. Finally, Acima Private Wealth LLC bought a new stake in Westrock during the fourth quarter valued at about $76,000. Institutional investors own 86.44% of the company’s stock.
In other Westrock news, Director Currey M. Russell purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The stock was purchased at an average price of $37.50 per share, with a total value of $187,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ward H. Dickson purchased 2,645 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was acquired at an average cost of $37.94 per share, with a total value of $100,351.30. The disclosure for this purchase can be found here. Corporate insiders own 2.00% of the company’s stock.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, January 31st. The basic materials company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.58 billion. Westrock had a net margin of 5.44% and a return on equity of 9.12%. Equities analysts predict that Westrock Co will post 4.07 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, February 25th. Investors of record on Friday, February 15th were given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 4.85%. The ex-dividend date was Thursday, February 14th. Westrock’s dividend payout ratio (DPR) is presently 44.50%.
A number of research analysts have recently commented on the stock. KeyCorp reaffirmed a “hold” rating on shares of Westrock in a research report on Thursday, December 20th. Citigroup lowered shares of Westrock from a “buy” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $42.00 in a research report on Monday, January 7th. Bank of America lowered shares of Westrock from a “buy” rating to a “neutral” rating in a research report on Monday, December 17th. ValuEngine lowered shares of Westrock from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 2nd. Finally, Royal Bank of Canada lowered shares of Westrock from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $54.33.
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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