WestRock (NYSE:WRK) Hits New 52-Week High at $53.10

WestRock (NYSE:WRK - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $53.10 and last traded at $53.10, with a volume of 493443 shares traded. The stock had previously closed at $52.73.

Analysts Set New Price Targets

WRK has been the topic of a number of analyst reports. Seaport Res Ptn cut shares of WestRock from a "buy" rating to a "neutral" rating in a research note on Monday, January 29th. Argus upped their target price on shares of WestRock from $50.00 to $57.00 and gave the company a "buy" rating in a research note on Monday, May 6th. Truist Financial upped their target price on shares of WestRock from $42.00 to $51.00 and gave the company a "hold" rating in a research note on Tuesday, May 7th. StockNews.com initiated coverage on shares of WestRock in a research note on Saturday. They set a "hold" rating on the stock. Finally, Wells Fargo & Company upped their target price on shares of WestRock from $46.00 to $51.00 and gave the company an "equal weight" rating in a research note on Friday, May 3rd. Five investment 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, WestRock currently has an average rating of "Hold" and a consensus price target of $47.60.

WestRock Stock Up 0.4 %

The stock has a market cap of $13.61 billion, a PE ratio of 44.50, a price-to-earnings-growth ratio of 4.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.85 and a current ratio of 1.34. The company's 50-day moving average price is $49.49 and its 200 day moving average price is $44.27.

WestRock (NYSE:WRK - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.25 by $0.14. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.75 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The business's revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, analysts forecast that WestRock will post 2.11 EPS for the current fiscal year.

WestRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be issued a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Monday, May 13th. WestRock's dividend payout ratio is 101.68%.

Insider Buying and Selling

In related news, EVP Denise R. Singleton sold 9,700 shares of the 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 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 available at this hyperlink. In other WestRock news, insider John L. O'neal sold 6,965 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 60,491 shares of the company's stock, valued at approximately $3,113,471.77. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Denise R. Singleton sold 9,700 shares of the stock in a transaction that occurred 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 sale, 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 currently owned by insiders.

Institutional Investors Weigh In On WestRock

A number of institutional investors have recently added to or reduced their stakes in WRK. NBC Securities Inc. bought a new position in shares of WestRock during the 3rd quarter valued at approximately $27,000. International Assets Investment Management LLC boosted its position 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 valued at $33,000 after acquiring an additional 575 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of WestRock during the 4th quarter valued at approximately $35,000. Clear Street Markets LLC boosted its position in shares of WestRock by 198.5% during the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 665 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position 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 valued at $36,000 after acquiring an additional 320 shares during the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

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.