Mutual of America Capital Management LLC Sells 614 Shares of WestRock (NYSE:WRK)

Mutual of America Capital Management LLC cut its holdings in WestRock (NYSE:WRK) by 1.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 33,692 shares of the basic materials company’s stock after selling 614 shares during the period. Mutual of America Capital Management LLC’s holdings in WestRock were worth $1,666,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in WestRock by 268.7% in the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 575 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of WestRock in the fourth quarter worth $35,000. Parkside Financial Bank & Trust increased its holdings in shares of WestRock by 59.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 320 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of WestRock by 82.0% in the first quarter. Newbridge Financial Services Group Inc. now owns 910 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 410 shares during the period. Finally, First United Bank & Trust bought a new position in shares of WestRock in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

WestRock Price Performance

WRK stock opened at $51.51 on Monday. The firm has a 50 day moving average price of $51.60 and a 200-day moving average price of $47.30. WestRock has a 52-week low of $27.86 and a 52-week high of $54.83. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of 43.29, a PEG ratio of 2.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.85 and a current ratio of 1.34.

WestRock (NYSE:WRK) last announced 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 company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. Equities research analysts forecast that WestRock will post 2.16 EPS for the current fiscal year.

WestRock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Tuesday, May 14th were given a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Monday, May 13th. WestRock’s dividend payout ratio (DPR) is presently 101.68%.

Insiders Place Their Bets

In other WestRock news, EVP Denise R. Singleton sold 9,700 shares of WestRock 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 sale, the executive vice president now 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 SEC, which is available at the SEC website. In related news, insider John L. O’neal sold 6,965 shares of WestRock stock in a transaction on Friday, May 3rd. The shares were 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Denise R. Singleton sold 9,700 shares of WestRock stock in a transaction on 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 currently owned by insiders.

Analyst Ratings Changes

WRK has been the topic of a number of research analyst reports. Wells Fargo & Company increased 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. Argus increased their target price on shares of WestRock from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, May 6th. StockNews.com assumed coverage on shares of WestRock in a report on Saturday, May 18th. They set a “hold” rating for the company. Finally, 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. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.75.

About WestRock

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.