WestRock (NYSE:WRK) Sees Unusually-High Trading Volume

WestRock (NYSE:WRK) saw an uptick in trading volume on Tuesday . 932,965 shares changed hands during mid-day trading, a decline of 61% from the previous session’s volume of 2,364,770 shares.The stock last traded at $49.07 and had previously closed at $49.57.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WRK. StockNews.com began coverage on WestRock in a research note on Saturday, May 18th. They issued a “hold” rating on the stock. Wells Fargo & Company lifted their target price on WestRock from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. Truist Financial lifted their target price 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 target price on WestRock from $50.00 to $57.00 and gave the company 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 assigned a buy rating to the company. According to data from MarketBeat.com, WestRock has a consensus rating of “Hold” and a consensus target price of $51.75.

WestRock Price Performance

The firm has a market cap of $12.73 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 2.08 and a beta of 1.05. 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 stock has a 50 day moving average price of $51.16 and a two-hundred day moving average price of $46.77.

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

WestRock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were given a $0.3025 dividend. The ex-dividend date was Monday, May 13th. This represents a $1.21 dividend on an annualized basis and a yield of 2.44%. WestRock’s dividend payout ratio is currently 101.68%.

Insider Activity at WestRock

In related news, insider John L. O’neal sold 6,965 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total value of $358,488.55. Following the sale, the insider now owns 60,491 shares in the company, valued at $3,113,471.77. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other WestRock news, insider John L. O’neal sold 6,965 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.47, for a total value of $358,488.55. Following the completion of the transaction, the insider now directly owns 60,491 shares of the company’s stock, valued at $3,113,471.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Denise R. Singleton sold 9,700 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.46, for a total value of $499,162.00. Following the completion of the transaction, the executive vice president now directly owns 74,946 shares of the company’s stock, valued at $3,856,721.16. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its stake in shares of WestRock by 268.7% during the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after buying an additional 575 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in shares of WestRock during the 4th quarter worth approximately $35,000. Parkside Financial Bank & Trust raised its stake in shares of WestRock by 59.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after buying an additional 320 shares during the period. First United Bank & Trust acquired a new position in shares of WestRock during the 4th quarter worth approximately $43,000. Finally, Headlands Technologies LLC acquired a new position in shares of WestRock during the 1st quarter worth approximately $44,000. 83.38% of the stock is owned by institutional investors and hedge funds.

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.