Ajo LP Buys 2,761,910 Shares of Westrock Company (WRK)

Ajo LP increased its stake in shares of Westrock Company (NYSE:WRK) by 13,639.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,782,160 shares of the basic materials company’s stock after acquiring an additional 2,761,910 shares during the period. Ajo LP owned approximately 1.12% of Westrock worth $157,637,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in WRK. BlackRock Inc. lifted its position in Westrock by 3,569.1% during the 1st quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock worth $1,166,413,000 after acquiring an additional 21,807,090 shares in the last quarter. AQR Capital Management LLC increased its holdings in Westrock by 450.1% during the 1st quarter. AQR Capital Management LLC now owns 2,486,279 shares of the basic materials company’s stock worth $129,362,000 after purchasing an additional 2,034,341 shares during the last quarter. Bank of Montreal Can increased its holdings in Westrock by 262.9% during the 2nd quarter. Bank of Montreal Can now owns 2,547,693 shares of the basic materials company’s stock worth $144,353,000 after purchasing an additional 1,845,658 shares during the last quarter. Prudential Financial Inc. increased its holdings in Westrock by 327.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,998,206 shares of the basic materials company’s stock worth $113,218,000 after purchasing an additional 1,530,797 shares during the last quarter. Finally, Janus Capital Management LLC increased its holdings in Westrock by 149.8% during the 1st quarter. Janus Capital Management LLC now owns 2,095,551 shares of the basic materials company’s stock worth $109,032,000 after purchasing an additional 1,256,498 shares during the last quarter. 88.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Westrock Company (NYSE WRK) traded up 1.03% during midday trading on Monday, hitting $57.05. The stock had a trading volume of 177,058 shares. The firm has a 50-day moving average of $56.63 and a 200 day moving average of $54.86. The firm has a market cap of $14.31 billion, a PE ratio of 34.62 and a beta of 1.37. Westrock Company has a 12-month low of $43.79 and a 12-month high of $60.36.

Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.10. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the company earned $0.71 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts expect that Westrock Company will post $2.62 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 11th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.83%. Westrock’s dividend payout ratio is currently 97.56%.

In other Westrock news, Director John A. Luke, Jr. sold 76,855 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $56.89, for a total value of $4,372,280.95. Following the completion of the sale, the director now owns 543,289 shares in the company, valued at approximately $30,907,711.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $58.61, for a total value of $606,203.23. Following the completion of the sale, the director now owns 497,557 shares of the company’s stock, valued at approximately $29,161,815.77. The disclosure for this sale can be found here. Insiders sold a total of 390,176 shares of company stock valued at $21,847,797 in the last quarter. Corporate insiders own 2.68% of the company’s stock.

Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Westrock from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Tuesday, June 27th. Jefferies Group LLC restated a “buy” rating and set a $65.00 price objective on shares of Westrock in a report on Thursday, June 22nd. Barclays PLC lifted their price objective on Westrock from $54.00 to $58.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. BMO Capital Markets restated a “buy” rating and set a $62.00 price objective on shares of Westrock in a report on Thursday, June 15th. Finally, BidaskClub upgraded Westrock from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Westrock has an average rating of “Buy” and an average target price of $63.44.

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Westrock Profile

WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.

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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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