WestRock (WRK) Issues Earnings Results, Meets Estimates
WestRock (NYSE:WRK) issued its quarterly earnings data on Friday. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.83, Bloomberg Earnings reports. The business had revenue of $4.02 billion during the quarter, compared to analyst estimates of $4.10 billion. WestRock had a net margin of 11.51% and a return on equity of 7.45%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $0.54 EPS.
Shares of WRK stock opened at $60.79 on Friday. The company has a market cap of $16,417.44, a PE ratio of 23.20, a P/E/G ratio of 1.22 and a beta of 1.37. WestRock has a 52 week low of $51.22 and a 52 week high of $71.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.74.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 14th. Shareholders of record on Friday, May 4th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, May 3rd. WestRock’s dividend payout ratio is presently 65.65%.
In other news, Director John A. Luke, Jr. sold 7,236 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $67.06, for a total transaction of $485,246.16. Following the completion of the sale, the director now owns 504,679 shares of the company’s stock, valued at approximately $33,843,773.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John A. Luke, Jr. sold 124,621 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $65.34, for a total transaction of $8,142,736.14. Following the sale, the director now directly owns 547,443 shares of the company’s stock, valued at approximately $35,769,925.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 439,719 shares of company stock valued at $28,919,677. Insiders own 2.68% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Assetmark Inc. grew its position in shares of WestRock by 672.6% during the 4th quarter. Assetmark Inc. now owns 1,661 shares of the basic materials company’s stock worth $105,000 after buying an additional 1,446 shares during the period. Tower Research Capital LLC TRC grew its position in shares of WestRock by 1,225.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,107 shares of the basic materials company’s stock worth $133,000 after buying an additional 1,948 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of WestRock by 3,666.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,013 shares of the basic materials company’s stock worth $190,000 after buying an additional 2,933 shares during the period. Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of WestRock during the 4th quarter worth approximately $201,000. Finally, Unio Capital LLC acquired a new stake in shares of WestRock during the 4th quarter worth approximately $225,000. 88.13% of the stock is owned by institutional investors.
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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