Impax Asset Management Group plc Trims Stake in WestRock (NYSE:WRK)

Impax Asset Management Group plc lessened its position in shares of WestRock (NYSE:WRK - Free Report) by 20.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 377,081 shares of the basic materials company's stock after selling 98,041 shares during the period. Impax Asset Management Group plc owned 0.15% of WestRock worth $15,656,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WRK. Vanguard Group Inc. raised its position in shares of WestRock by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 30,619,872 shares of the basic materials company's stock worth $1,440,053,000 after acquiring an additional 252,490 shares in the last quarter. BlackRock Inc. grew its stake in WestRock by 9.6% during the first quarter. BlackRock Inc. now owns 26,528,567 shares of the basic materials company's stock worth $808,325,000 after purchasing an additional 2,320,073 shares during the period. State Street Corp increased its holdings in WestRock by 14.7% in the second quarter. State Street Corp now owns 11,986,307 shares of the basic materials company's stock worth $348,442,000 after purchasing an additional 1,538,825 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in WestRock by 59.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,318,827 shares of the basic materials company's stock valued at $283,947,000 after buying an additional 3,459,641 shares during the period. Finally, Norges Bank bought a new position in shares of WestRock during the 4th quarter worth approximately $194,739,000. Institutional investors and hedge funds own 83.38% of the company's stock.

WestRock Stock Down 0.1 %

Shares of WRK traded down $0.05 on Wednesday, reaching $49.10. The company's stock had a trading volume of 1,359,071 shares, compared to its average volume of 2,150,956. WestRock has a twelve month low of $26.85 and a twelve month high of $49.67. The stock has a market capitalization of $12.59 billion, a PE ratio of -7.31, a PEG ratio of 4.03 and a beta of 1.10. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The firm has a fifty day moving average of $45.65 and a 200-day moving average of $41.37.

WestRock (NYSE:WRK - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.15). WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. The company had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.79 billion. During the same period in the prior year, the firm posted $0.55 earnings per share. The business's revenue for the quarter was down 6.2% on a year-over-year basis. Equities analysts predict that WestRock will post 1.95 EPS for the current year.

WestRock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Friday, February 9th were paid a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, February 8th. WestRock's dividend payout ratio (DPR) is presently -18.01%.

Analysts Set New Price Targets

A number of research firms recently issued reports on WRK. Wells Fargo & Company reiterated an "equal weight" rating and set a $45.00 target price (up previously from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Royal Bank of Canada reissued a "sector perform" rating and set a $42.00 price objective on shares of WestRock in a research report on Friday, February 2nd. Truist Financial raised their target price on WestRock from $40.00 to $48.00 and gave the company a "hold" rating in a research note on Thursday, January 4th. Seaport Res Ptn downgraded WestRock from a "buy" rating to a "neutral" rating in a research note on Monday, January 29th. Finally, StockNews.com assumed coverage on WestRock in a research note on Monday. They issued a "hold" rating for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $42.40.

Insiders Place Their Bets

In other news, insider Vicki L. Lostetter sold 3,500 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.77, for a total value of $149,695.00. Following the completion of the sale, the insider now owns 92,117 shares in the company, valued at $3,939,844.09. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.49% of the company's stock.

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.