WestRock (NYSE:WRK) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its stake in shares of WestRock (NYSE:WRK - Free Report) by 21.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,116,929 shares of the basic materials company's stock after selling 845,308 shares during the period. Massachusetts Financial Services Co. MA owned about 1.21% of WestRock worth $129,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of WRK. 626 Financial LLC grew its position in shares of WestRock by 1.4% during the 4th quarter. 626 Financial LLC now owns 18,972 shares of the basic materials company's stock valued at $788,000 after acquiring an additional 265 shares during the period. Van ECK Associates Corp grew its holdings in WestRock by 2.4% in the third quarter. Van ECK Associates Corp now owns 12,143 shares of the basic materials company's stock valued at $435,000 after purchasing an additional 289 shares during the period. Parkside Financial Bank & Trust increased its position in shares of WestRock by 59.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company's stock valued at $36,000 after buying an additional 320 shares in the last quarter. Wahed Invest LLC raised its stake in shares of WestRock by 9.0% during the 3rd quarter. Wahed Invest LLC now owns 3,973 shares of the basic materials company's stock worth $142,000 after buying an additional 327 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of WestRock by 0.5% during the 3rd quarter. Arizona State Retirement System now owns 69,877 shares of the basic materials company's stock valued at $2,502,000 after buying an additional 380 shares in the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Denise R. Singleton sold 9,700 shares of the company's stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $51.46, for a total value of $499,162.00. Following the transaction, the executive vice president now owns 74,946 shares of the company's stock, valued at approximately $3,856,721.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider John L. O'neal sold 6,965 shares of WestRock stock in a transaction that occurred on 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 owns 60,491 shares in the company, valued at approximately $3,113,471.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Denise R. Singleton sold 9,700 shares of the business's 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 in the company, valued at approximately $3,856,721.16. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

WestRock Trading Down 1.0 %

Shares of WRK traded down $0.54 during midday trading on Thursday, reaching $52.34. The company had a trading volume of 1,807,333 shares, compared to its average volume of 2,239,655. WestRock has a 1-year low of $26.85 and a 1-year high of $52.89. The company has a quick ratio of 0.85, a current ratio of 1.34 and a debt-to-equity ratio of 0.77. The firm has a 50 day simple moving average of $48.99 and a 200-day simple moving average of $43.76. The stock has a market cap of $13.45 billion, a PE ratio of 43.98, a price-to-earnings-growth ratio of 4.36 and a beta of 1.10.

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

WestRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th will be given a $0.3025 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.21 annualized dividend and a yield of 2.31%. WestRock's payout ratio is 101.68%.

Analyst Ratings Changes

Several equities research analysts recently commented on WRK shares. Argus boosted their price target on shares of WestRock from $50.00 to $57.00 and gave the stock a "buy" rating in a report on Monday, May 6th. Wells Fargo & Company raised their price target 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. Seaport Res Ptn lowered WestRock from a "buy" rating to a "neutral" rating in a research note on Monday, January 29th. StockNews.com assumed coverage on WestRock in a research report on Friday, May 10th. They issued a "hold" rating on the stock. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, WestRock currently has an average rating of "Hold" and a consensus target price of $47.60.

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.