WestRock (NYSE:WRK) Plans Quarterly Dividend of $0.30

WestRock (NYSE:WRK - Get Free Report) declared a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Shareholders of record on Tuesday, May 14th will be given a dividend of 0.3025 per share by the basic materials company on Wednesday, May 22nd. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Monday, May 13th.

WestRock has increased its dividend payment by an average of 1.9% per year over the last three years and has raised its dividend every year for the last 3 years. WestRock has a dividend payout ratio of 35.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect WestRock to earn $3.33 per share next year, which means the company should continue to be able to cover its $1.21 annual dividend with an expected future payout ratio of 36.3%.

WestRock Trading Up 2.7 %

Shares of WRK traded up $1.28 during trading hours on Monday, reaching $48.54. 2,102,893 shares of the company traded hands, compared to its average volume of 2,111,645. The company's fifty day moving average price is $47.27 and its two-hundred day moving average price is $42.46. The company has a market capitalization of $12.53 billion, a price-to-earnings ratio of -7.22, a price-to-earnings-growth ratio of 4.41 and a beta of 1.10. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81. WestRock has a 12 month low of $26.85 and a 12 month high of $49.67.

WestRock (NYSE:WRK - Get Free Report) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.15). The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.79 billion. WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The company's revenue for the quarter was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.55 EPS. Equities research analysts predict that WestRock will post 1.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on WRK shares. Seaport Res Ptn cut shares of WestRock from a "buy" rating to a "neutral" rating in a report on Monday, January 29th. StockNews.com assumed coverage on shares of WestRock in a report on Wednesday, April 24th. They set a "hold" rating for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $42.00 target price on shares of WestRock in a report on Friday, February 2nd. Truist Financial upped their target price on shares of WestRock from $40.00 to $48.00 and gave the company a "hold" rating in a report on Thursday, January 4th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $45.00 target price (up from $42.00) on shares of WestRock in a report on Thursday, January 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, WestRock has an average rating of "Hold" and an average price target of $43.00.

Insider Buying and Selling

In related news, insider Vicki L. Lostetter sold 3,500 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the completion of the transaction, the insider now owns 92,117 shares in the company, valued at $3,939,844.09. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.49% of the stock is owned by company insiders.

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.