Kennedy Capital Management Inc. cut its position in Westrock Company (NYSE:WRK) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,051 shares of the basic materials company’s stock after selling 4,737 shares during the period. Kennedy Capital Management Inc. owned about 0.05% of Westrock worth $7,029,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. LSV Asset Management raised its holdings in Westrock by 13.8% in the second quarter. LSV Asset Management now owns 815,425 shares of the basic materials company’s stock worth $46,201,000 after purchasing an additional 98,767 shares during the period. Reliant Investment Management LLC acquired a new stake in Westrock in the second quarter worth $1,603,000. Northwestern Mutual Investment Management Company LLC raised its holdings in Westrock by 1,801.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 962,436 shares of the basic materials company’s stock worth $37,410,000 after purchasing an additional 911,819 shares during the period. Hosking Partners LLP raised its holdings in Westrock by 1.7% in the second quarter. Hosking Partners LLP now owns 128,464 shares of the basic materials company’s stock worth $7,279,000 after purchasing an additional 2,088 shares during the period. Finally, State of Tennessee Treasury Department raised its holdings in Westrock by 19.6% in the second quarter. State of Tennessee Treasury Department now owns 180,503 shares of the basic materials company’s stock worth $10,227,000 after purchasing an additional 29,602 shares during the period. Institutional investors own 88.63% of the company’s stock.
In related news, Director John A. Luke, Jr. sold 153,718 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $55.40, for a total transaction of $8,515,977.20. Following the transaction, the director now owns 543,291 shares in the company, valued at approximately $30,098,321.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $59.43, for a total transaction of $614,684.49. Following the transaction, the director now owns 497,557 shares in the company, valued at approximately $29,569,812.51. The disclosure for this sale can be found here. Insiders have sold a total of 390,176 shares of company stock worth $21,847,797 in the last quarter. 2.68% of the stock is owned by corporate insiders.
Several equities research analysts have weighed in on the stock. BidaskClub upgraded shares of Westrock from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Barclays PLC increased their target price on shares of Westrock from $54.00 to $58.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. Jefferies Group LLC reiterated a “buy” rating and issued a $69.00 target price on shares of Westrock in a report on Friday, August 4th. Zacks Investment Research upgraded shares of Westrock from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a report on Thursday, July 13th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $63.44.
Shares of Westrock Company (NYSE:WRK) opened at 57.75 on Tuesday. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of 35.04 and a beta of 1.37. The company’s 50 day moving average is $56.63 and its 200-day moving average is $54.86. Westrock Company has a one year low of $43.79 and a one year high of $60.36.
Westrock (NYSE:WRK) last released its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company earned $0.71 EPS. Westrock’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts expect that Westrock Company will post $2.62 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Friday, August 11th were given a dividend of $0.40 per share. 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 2.77%. Westrock’s payout ratio is presently 97.56%.
Westrock Company 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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