Schwab Charles Investment Management Inc. Grows Stake in WestRock (WRK)

Schwab Charles Investment Management Inc. increased its position in shares of WestRock (NYSE:WRK) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 936,131 shares of the basic materials company’s stock after purchasing an additional 31,278 shares during the period. Schwab Charles Investment Management Inc. owned about 0.37% of WestRock worth $60,072,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OLD Dominion Capital Management Inc. increased its position in shares of WestRock by 18.0% during the fourth quarter. OLD Dominion Capital Management Inc. now owns 10,069 shares of the basic materials company’s stock valued at $636,000 after purchasing an additional 1,535 shares during the period. SG Americas Securities LLC increased its position in shares of WestRock by 31.2% during the fourth quarter. SG Americas Securities LLC now owns 22,885 shares of the basic materials company’s stock valued at $1,447,000 after purchasing an additional 5,445 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of WestRock by 3.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 50,663 shares of the basic materials company’s stock valued at $3,202,000 after purchasing an additional 1,691 shares during the period. Conning Inc. increased its position in shares of WestRock by 9,098.7% during the fourth quarter. Conning Inc. now owns 445,954 shares of the basic materials company’s stock valued at $28,189,000 after purchasing an additional 441,106 shares during the period. Finally, Flinton Capital Management LLC increased its position in shares of WestRock by 14.9% during the fourth quarter. Flinton Capital Management LLC now owns 135,212 shares of the basic materials company’s stock valued at $8,547,000 after purchasing an additional 17,584 shares during the period. Institutional investors and hedge funds own 87.28% of the company’s stock.

Shares of NYSE:WRK opened at $62.09 on Friday. WestRock has a fifty-two week low of $51.61 and a fifty-two week high of $71.55. The firm has a market capitalization of $15.87 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 1.13 and a beta of 1.40. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 0.48.

WestRock (NYSE:WRK) last announced its quarterly earnings results on Friday, April 27th. The basic materials company reported $0.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.83. WestRock had a return on equity of 7.84% and a net margin of 12.01%. The firm had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. research analysts predict that WestRock will post 4.07 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 14th. Shareholders of record on Friday, May 4th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date was Thursday, May 3rd. WestRock’s dividend payout ratio (DPR) is 65.65%.

A number of analysts have recently issued reports on WRK shares. Deutsche Bank set a $78.00 price objective on WestRock and gave the company a “buy” rating in a research report on Tuesday, January 30th. Royal Bank of Canada restated a “buy” rating and set a $85.00 price objective on shares of WestRock in a research report on Tuesday, January 30th. Zacks Investment Research upgraded WestRock from a “hold” rating to a “strong-buy” rating and set a $74.00 price objective on the stock in a research report on Saturday, April 7th. Citigroup boosted their price objective on WestRock from $80.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Finally, ValuEngine cut WestRock from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $75.90.

In other news, Director John A. Luke, Jr. sold 75,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $66.95, for a total transaction of $5,021,250.00. Following the sale, the director now owns 534,159 shares in the company, valued at $35,761,945.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Wayne Chalovich sold 16,345 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $66.00, for a total value of $1,078,770.00. Following the sale, the insider now owns 62,326 shares in the company, valued at approximately $4,113,516. The disclosure for this sale can be found here. Insiders sold 190,831 shares of company stock worth $12,656,836 over the last quarter. Company insiders own 2.68% of the company’s stock.

WestRock Company Profile

WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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