Segantii Capital Management Ltd Buys 1,247,561 Shares of WestRock (NYSE:WRK)

Segantii Capital Management Ltd grew its stake in shares of WestRock (NYSE:WRK - Free Report) by 75.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,907,561 shares of the basic materials company's stock after acquiring an additional 1,247,561 shares during the quarter. WestRock comprises approximately 6.4% of Segantii Capital Management Ltd's investment portfolio, making the stock its 2nd largest holding. Segantii Capital Management Ltd owned about 1.13% of WestRock worth $120,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its position in WestRock by 7.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 103,846 shares of the basic materials company's stock worth $3,718,000 after acquiring an additional 7,139 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in WestRock by 2.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 125,265 shares of the basic materials company's stock valued at $4,484,000 after buying an additional 2,702 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in WestRock by 36.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 107,031 shares of the basic materials company's stock worth $3,832,000 after buying an additional 28,777 shares during the period. Forsta AP Fonden raised its position in WestRock by 4,688.9% during the 3rd quarter. Forsta AP Fonden now owns 86,200 shares of the basic materials company's stock worth $3,086,000 after buying an additional 84,400 shares during the last quarter. Finally, Strs Ohio acquired a new stake in WestRock during the 3rd quarter valued at approximately $1,614,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

WestRock Trading Down 0.2 %

WestRock stock traded down $0.10 during mid-day trading on Thursday, hitting $51.71. The company's stock had a trading volume of 3,532,686 shares, compared to its average volume of 2,182,519. WestRock has a 1 year low of $26.85 and a 1 year high of $52.13. The company has a current ratio of 1.34, a quick ratio of 0.85 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $13.29 billion, a PE ratio of 43.45, a price-to-earnings-growth ratio of 4.77 and a beta of 1.10. The stock's fifty day moving average is $48.29 and its two-hundred day moving average is $43.17.

WestRock (NYSE:WRK - Get Free Report) last posted its earnings results on Thursday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analysts' expectations of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. WestRock's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. On average, analysts anticipate that WestRock will post 1.93 EPS for the current year.

WestRock Dividend Announcement

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 paid a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend is Monday, May 13th. WestRock's payout ratio is 101.68%.

Insider Activity at WestRock

In related news, insider Vicki L. Lostetter sold 3,500 shares of the company's stock in a transaction that occurred 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 directly owns 92,117 shares of the company's stock, valued at approximately $3,939,844.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of the company's stock in a transaction dated Monday, February 12th. The stock was 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 in the company, valued at approximately $3,939,844.09. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John L. O'neal sold 6,965 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.47, for a total value of $358,488.55. Following the completion of the sale, the insider now directly owns 60,491 shares in the company, valued at approximately $3,113,471.77. The disclosure for this sale can be found here. Insiders sold 20,165 shares of company stock worth $1,007,346 in the last three months. 0.49% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Seaport Res Ptn lowered WestRock from a "buy" rating to a "neutral" rating in a research report on Monday, January 29th. Royal Bank of Canada restated a "sector perform" rating and set a $42.00 price target on shares of WestRock in a research report on Friday, February 2nd. Wells Fargo & Company upped their price objective on shares of WestRock from $46.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Friday, May 3rd. Truist Financial raised their target price on WestRock from $42.00 to $51.00 and gave the company a "hold" rating in a research report on Tuesday. Finally, StockNews.com initiated coverage on WestRock in a research report on Thursday, May 2nd. They set a "hold" rating on the stock. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $47.60.

WestRock 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.