WestRock Company (WRK) has a market cap of $11.7 billion. It rose 1.6% to close at $46.35 per share on November 4, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were 0.41%, -2.3%, and 4.7%, respectively, on the same day.
WRK is trading 0.41% below its 20-day moving average, 2.0% below its 50-day moving average, and 14.3% above its 200-day moving average.
Related ETF and peers
The iShares Global Timber & Forestry ETF (WOOD) invests 3.9% of its holdings in WestRock. The ETF tracks the 25 largest publicly listed companies that own or manage forests and timberlands. The YTD price movement of WOOD was 4.2% on November 4.
The market caps of WestRock’s competitors are as follows:
- International Paper Company (IP) — $18.3 billion
- Packaging Corporation of America (PKG) — $7.6 billion
- Graphic Packaging Holding Company (GPK) — $4.0 billion
WestRock declared dividend
WestRock Company has declared a quarterly dividend of $0.40 per share on its common stock. The dividend will be paid on November 30, 2016, to shareholders of record at the close of business on November 21, 2016.
Performance of WestRock in fiscal 3Q16
WestRock (WRK) reported fiscal 3Q16 net sales of $3.6 billion, a rise of 44.0% compared to net sales of $2.5 billion in fiscal 3Q15. Sales from its Corrugated Packaging and Consumer Packaging segments rose 4.3% and 137.0%, respectively, in fiscal 3Q16 compared to fiscal 3Q15.
The company reported sales of land and development of $42.0 million, respectively, in fiscal 3Q16. It reported restructuring and other costs of $43.1 million in fiscal 3Q16 compared to $13.1 million in fiscal 3Q15. The company’s gross profit margin fell 2.4%, and its operating profit rose 8.5% in fiscal 3Q16 compared to the prior year period.
Its net income and EPS (earnings per share) fell to $92.3 million and $0.36, respectively, in fiscal 3Q16 compared to $156.4 million and $1.10, respectively, in fiscal 3Q15. It reported adjusted EPS from continuing operations of $0.71 in fiscal 3Q16.
WRK’s cash and cash equivalents rose 24.5%, and its inventories fell 4.0% in fiscal 3Q16 compared to fiscal 4Q15. Its current ratio fell to 1.7x, and its debt-to-equity ratio rose to 1.3x in fiscal 3Q16 compared to a current ratio and a debt-to-equity ratio of 1.9x and 1.2x, respectively, in fiscal 4Q15.
In the next part, we’ll discuss B&G Foods (BGS).