Westrock Company (NYSE:WRK) Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $58.55, for a total value of $605,582.65. Following the completion of the transaction, the director now directly owns 497,557 shares in the company, valued at $29,131,962.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Westrock Company (WRK) opened at $58.66 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.57. Westrock Company has a twelve month low of $48.97 and a twelve month high of $61.60. The company has a market capitalization of $14,733.71, a P/E ratio of 22.46, a P/E/G ratio of 1.36 and a beta of 1.37.
Westrock (NYSE:WRK) last posted its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.06. Westrock had a return on equity of 6.73% and a net margin of 4.77%. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the previous year, the firm earned $0.71 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. analysts anticipate that Westrock Company will post 3.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, November 10th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This is a boost from Westrock’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a yield of 2.93%. Westrock’s payout ratio is currently 62.09%.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eqis Capital Management Inc. lifted its holdings in Westrock by 9.9% in the 3rd quarter. Eqis Capital Management Inc. now owns 11,786 shares of the basic materials company’s stock worth $669,000 after purchasing an additional 1,058 shares in the last quarter. BlackRock Inc. lifted its holdings in Westrock by 0.8% in the 2nd quarter. BlackRock Inc. now owns 22,598,192 shares of the basic materials company’s stock worth $1,280,411,000 after purchasing an additional 180,112 shares in the last quarter. Thrivent Financial For Lutherans lifted its holdings in Westrock by 48.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 1,328,089 shares of the basic materials company’s stock worth $75,250,000 after purchasing an additional 434,790 shares in the last quarter. Ronna Sue Cohen lifted its holdings in Westrock by 0.3% in the 2nd quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock worth $261,000 after purchasing an additional 12 shares in the last quarter. Finally, Aviva PLC lifted its holdings in Westrock by 0.4% in the 2nd quarter. Aviva PLC now owns 156,270 shares of the basic materials company’s stock worth $8,856,000 after purchasing an additional 640 shares in the last quarter. 88.80% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on WRK. Barclays PLC reissued a “hold” rating on shares of Westrock in a research report on Friday, November 10th. Zacks Investment Research cut Westrock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. DA Davidson reaffirmed a “buy” rating and set a $74.00 price objective on shares of Westrock in a research report on Friday, November 3rd. Stephens began coverage on Westrock in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 price objective on the stock. Finally, KeyCorp reaffirmed a “hold” rating on shares of Westrock in a research report on Wednesday, October 11th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Westrock presently has an average rating of “Buy” and a consensus price target of $65.09.
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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