Optimal Asset Management Inc. Invests $872,000 in WestRock (NYSE:WRK)

Optimal Asset Management Inc. bought a new position in shares of WestRock (NYSE:WRK) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,756 shares of the basic materials company’s stock, valued at approximately $872,000.

Other large investors have also added to or reduced their stakes in the company. Vantage Consulting Group Inc bought a new stake in shares of WestRock in the fourth quarter valued at about $30,000. International Assets Investment Management LLC raised its holdings in shares of WestRock by 100.0% in the first quarter. International Assets Investment Management LLC now owns 826 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 413 shares in the last quarter. Ameritas Investment Company LLC bought a new stake in shares of WestRock in the first quarter valued at about $41,000. Retirement Group LLC bought a new stake in shares of WestRock in the fourth quarter valued at about $43,000. Finally, CWM LLC raised its holdings in shares of WestRock by 83.0% in the first quarter. CWM LLC now owns 882 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 81.09% of the company’s stock.

WRK has been the topic of several analyst reports. Zacks Investment Research lowered WestRock from a “buy” rating to a “hold” rating and set a $53.00 target price on the stock. in a research note on Friday, July 16th. Morgan Stanley lifted their target price on WestRock from $50.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, May 10th. Deutsche Bank Aktiengesellschaft lifted their target price on WestRock from $58.00 to $59.00 in a research note on Monday, April 19th. Wells Fargo & Company boosted their price target on WestRock from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, June 21st. Finally, KeyCorp boosted their price target on WestRock from $35.00 to $40.00 and gave the stock an “underweight” rating in a research note on Monday, April 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $54.67.

Shares of NYSE WRK opened at $48.75 on Thursday. The firm has a 50 day moving average price of $55.04. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of -17.60, a P/E/G ratio of 0.49 and a beta of 1.26. WestRock has a 52 week low of $26.56 and a 52 week high of $62.03. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 0.76.

WestRock (NYSE:WRK) last announced its quarterly earnings results on Wednesday, May 5th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.08). WestRock had a negative net margin of 4.06% and a positive return on equity of 6.27%. The company had revenue of $4.44 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. The company’s revenue was down .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that WestRock will post 3.45 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Wednesday, May 19th were issued a $0.24 dividend. The ex-dividend date of this dividend was Tuesday, May 18th. This is an increase from WestRock’s previous quarterly dividend of $0.20. This represents a $0.96 dividend on an annualized basis and a yield of 1.97%. WestRock’s payout ratio is presently 34.78%.

WestRock Company Profile

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

Read More: What is the quiet period?

Want to see what other hedge funds are holding WRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WestRock (NYSE:WRK).

Institutional Ownership by Quarter for WestRock (NYSE:WRK)

Receive News & Ratings for WestRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WestRock and related companies with MarketBeat.com's FREE daily email newsletter.