Fiduciary Alliance LLC Sells 588 Shares of WestRock (NYSE:WRK)

Fiduciary Alliance LLC lessened its position in WestRock (NYSE:WRK) by 10.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,209 shares of the basic materials company’s stock after selling 588 shares during the period. Fiduciary Alliance LLC’s holdings in WestRock were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. 626 Financial LLC increased its holdings in WestRock by 1.4% during the 4th quarter. 626 Financial LLC now owns 18,972 shares of the basic materials company’s stock valued at $788,000 after purchasing an additional 265 shares during the period. Czech National Bank increased its stake in shares of WestRock by 0.7% during the first quarter. Czech National Bank now owns 45,213 shares of the basic materials company’s stock valued at $2,236,000 after buying an additional 306 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of WestRock by 59.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 320 shares in the last quarter. Wahed Invest LLC lifted its stake in WestRock by 9.0% in the third quarter. Wahed Invest LLC now owns 3,973 shares of the basic materials company’s stock worth $142,000 after acquiring an additional 327 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in WestRock by 0.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 55,457 shares of the basic materials company’s stock valued at $2,742,000 after acquiring an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

WestRock Stock Performance

WestRock stock opened at $50.26 on Monday. WestRock has a twelve month low of $27.86 and a twelve month high of $54.83. 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 company has a market capitalization of $12.92 billion, a P/E ratio of 42.24, a PEG ratio of 2.08 and a beta of 1.05. The stock’s 50 day moving average is $51.13 and its 200 day moving average is $46.72.

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, beating the consensus estimate of $0.25 by $0.14. The firm had revenue of $4.73 billion during 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 revenue was down 10.4% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. On average, equities research analysts predict that WestRock will post 2.16 earnings per share for the current fiscal year.

WestRock Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Monday, May 13th. WestRock’s payout ratio is 101.68%.

Insider Activity at WestRock

In related news, EVP Denise R. Singleton sold 9,700 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $51.46, for a total value of $499,162.00. Following the transaction, the executive vice president now directly owns 74,946 shares of the company’s stock, valued at approximately $3,856,721.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 completion of the sale, the insider now directly owns 60,491 shares in the company, valued at approximately $3,113,471.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Denise R. Singleton sold 9,700 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.46, for a total transaction 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. 0.49% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Truist Financial raised their price objective on shares of WestRock from $51.00 to $57.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Argus upped their target price on WestRock from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, StockNews.com began coverage on WestRock in a research note on Saturday, May 18th. They issued a “hold” rating for the company. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.75.

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.