Andra AP fonden lowered its position in Westrock Co (NYSE:WRK) by 33.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,400 shares of the basic materials company’s stock after selling 16,700 shares during the period. Andra AP fonden’s holdings in Westrock were worth $1,217,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Clark Estates Inc. NY grew its holdings in Westrock by 35.2% during the second quarter. Clark Estates Inc. NY now owns 784,249 shares of the basic materials company’s stock worth $28,602,000 after acquiring an additional 204,249 shares during the period. Great Lakes Advisors LLC acquired a new stake in Westrock in the second quarter valued at $1,481,000. LPL Financial LLC lifted its holdings in Westrock by 201.3% in the second quarter. LPL Financial LLC now owns 67,038 shares of the basic materials company’s stock valued at $2,445,000 after acquiring an additional 44,787 shares during the period. Teza Capital Management LLC purchased a new stake in shares of Westrock during the 2nd quarter worth $230,000. Finally, Janus Henderson Group PLC grew its stake in shares of Westrock by 265.2% during the 2nd quarter. Janus Henderson Group PLC now owns 266,580 shares of the basic materials company’s stock worth $9,714,000 after purchasing an additional 193,591 shares during the period. 80.78% of the stock is currently owned by institutional investors.
Several analysts recently commented on the stock. ValuEngine cut shares of Westrock from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. BNP Paribas assumed coverage on shares of Westrock in a report on Monday. They issued an “outperform” rating and a $48.00 target price for the company. Zacks Investment Research downgraded shares of Westrock from a “hold” rating to a “sell” rating and set a $39.00 price target for the company. in a research report on Monday, October 14th. Exane BNP Paribas assumed coverage on Westrock in a research note on Monday. They set an “outperform” rating and a $48.00 price target on the stock. Finally, Bank of America upgraded Westrock from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $43.70.
Westrock (NYSE:WRK) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.05. The firm had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.84 billion. Westrock had a return on equity of 8.81% and a net margin of 4.72%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 EPS. On average, analysts forecast that Westrock Co will post 3.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th were given a $0.465 dividend. This is an increase from Westrock’s previous quarterly dividend of $0.38. This represents a $1.86 annualized dividend and a dividend yield of 4.71%. The ex-dividend date was Monday, November 18th. Westrock’s dividend payout ratio is currently 46.73%.
In other news, Director John A. Luke, Jr. sold 20,603 shares of Westrock stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $38.68, for a total transaction of $796,924.04. Also, Director John A. Luke, Jr. sold 41,206 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $40.64, for a total transaction of $1,674,611.84. Insiders sold 353,483 shares of company stock worth $14,058,867 over the last 90 days. Company insiders own 2.00% of the company’s stock.
Westrock Company Profile
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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