Private Management Group Inc. Sells 362,079 Shares of WestRock (NYSE:WRK)

Private Management Group Inc. decreased its stake in shares of WestRock (NYSE:WRK - Free Report) by 34.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 683,462 shares of the basic materials company's stock after selling 362,079 shares during the period. Private Management Group Inc. owned approximately 0.27% of WestRock worth $28,377,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in shares of WestRock during the 3rd quarter worth approximately $27,000. International Assets Investment Management LLC grew its holdings in WestRock by 268.7% during the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company's stock worth $33,000 after purchasing an additional 575 shares during the period. Parkside Financial Bank & Trust boosted its stake 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 worth $36,000 after acquiring an additional 320 shares during the period. Clear Street Markets LLC increased its holdings 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 worth $36,000 after acquiring an additional 665 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in WestRock during the 4th quarter valued at $55,000. 83.38% of the stock is owned by institutional investors.

Insider Activity

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of the business'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 sale, the insider now owns 92,117 shares of the company's stock, valued at $3,939,844.09. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

WestRock Price Performance

WRK traded down $0.97 on Tuesday, hitting $47.10. 2,112,174 shares of the stock were exchanged, compared to its average volume of 2,121,753. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.55 and a quick ratio of 0.95. WestRock has a 12 month low of $26.85 and a 12 month high of $49.67. The firm has a market capitalization of $12.16 billion, a price-to-earnings ratio of -7.02, a PEG ratio of 3.98 and a beta of 1.10. The business has a 50-day moving average of $46.84 and a two-hundred day moving average of $42.08.

WestRock (NYSE:WRK - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.15). The firm had revenue of $4.62 billion during 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 business's revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.55 earnings per share. Sell-side analysts forecast that WestRock will post 1.93 EPS for the current fiscal year.

WestRock Dividend Announcement

The firm also recently announced 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 2.57%. The ex-dividend date was Thursday, February 8th. WestRock's payout ratio is -18.01%.

Analyst Ratings Changes

WRK has been the subject of a number of research reports. StockNews.com started coverage on shares of WestRock in a research note on Tuesday, April 16th. They set a "hold" rating for the company. 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 note on Thursday, January 11th. Truist Financial upped their price objective on WestRock from $40.00 to $48.00 and gave the company a "hold" rating in a report on Thursday, January 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $42.00 target price on shares of WestRock in a research report on Friday, February 2nd. Finally, Seaport Res Ptn cut shares of WestRock from a "buy" rating to a "neutral" rating in a research note on Monday, January 29th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $43.00.

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.

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