Westrock (NYSE:WRK) released its earnings results on Tuesday, April 30th. The basic materials company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.63 by $0.17, MarketWatch Earnings reports. Westrock had a net margin of 4.89% and a return on equity of 9.03%. The firm had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.67 billion. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year.
Shares of NYSE WRK traded down $0.72 during mid-day trading on Wednesday, reaching $35.22. The company had a trading volume of 2,003,400 shares, compared to its average volume of 2,687,532. 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 stock has a market cap of $9.24 billion, a PE ratio of 8.61, a PEG ratio of 2.05 and a beta of 1.59. Westrock has a 52 week low of $35.08 and a 52 week high of $62.05.
The business also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 10th were issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date was Thursday, May 9th. Westrock’s payout ratio is presently 44.50%.
In related news, Director Currey M. Russell purchased 5,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were purchased at an average cost of $37.50 per share, for a total transaction of $187,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of WRK. BlackRock Inc. grew its holdings in Westrock by 38.6% during the 1st quarter. BlackRock Inc. now owns 31,068,544 shares of the basic materials company’s stock worth $1,191,478,000 after acquiring an additional 8,658,073 shares in the last quarter. LSV Asset Management grew its holdings in Westrock by 333.2% during the 4th quarter. LSV Asset Management now owns 5,851,396 shares of the basic materials company’s stock worth $220,948,000 after acquiring an additional 4,500,770 shares in the last quarter. Norges Bank bought a new position in Westrock during the 4th quarter worth about $141,233,000. Oregon Public Employees Retirement Fund grew its holdings in Westrock by 4,262.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,767,164 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 3,680,813 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Westrock by 64.1% during the 4th quarter. Bank of New York Mellon Corp now owns 3,530,156 shares of the basic materials company’s stock worth $133,298,000 after acquiring an additional 1,379,176 shares in the last quarter. Institutional investors own 85.26% of the company’s stock.
A number of equities research analysts recently issued reports on WRK shares. UBS Group started coverage on shares of Westrock in a research note on Wednesday, May 15th. They set a “buy” rating and a $47.00 price target on the stock. KeyCorp reaffirmed a “hold” rating on shares of Westrock in a research note on Wednesday, May 1st. Finally, Deutsche Bank downgraded shares of Westrock from a “buy” rating to a “hold” rating and decreased their price target for the company from $51.00 to $42.00 in a research note on Wednesday, April 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $49.56.
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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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