Westrock Company (NYSE:WRK) Director Sells $592,240.18 in Stock
Westrock Company (NYSE:WRK) Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $57.26, for a total value of $592,240.18. Following the completion of the sale, the director now owns 497,557 shares in the company, valued at approximately $28,490,113.82. The transaction was disclosed in a filing with the SEC, which is available at this link.
Westrock Company (NYSE WRK) traded down 1.05% on Tuesday, reaching $56.56. The company’s stock had a trading volume of 1,328,361 shares. The firm has a market capitalization of $14.03 billion, a PE ratio of 78.66 and a beta of 1.37. The stock’s 50 day moving average is $57.82 and its 200-day moving average is $54.34. Westrock Company has a 52 week low of $40.63 and a 52 week high of $60.36.
Westrock (NYSE:WRK) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. Westrock’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts predict that Westrock Company will post $2.59 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Wednesday, August 9th. Westrock’s payout ratio is 97.56%.
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Several hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. raised its position in shares of Westrock by 93.1% in the fourth quarter. Macquarie Group Ltd. now owns 258,381 shares of the basic materials company’s stock valued at $13,118,000 after buying an additional 124,555 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in Westrock by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 215,896 shares of the basic materials company’s stock worth $11,233,000 after buying an additional 6,040 shares in the last quarter. Creative Planning increased its position in Westrock by 1.7% in the first quarter. Creative Planning now owns 11,121 shares of the basic materials company’s stock worth $579,000 after buying an additional 189 shares in the last quarter. Gulf International Bank UK Ltd increased its position in Westrock by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 79,783 shares of the basic materials company’s stock worth $4,151,000 after buying an additional 1,000 shares in the last quarter. Finally, Kempner Capital Management Inc. increased its position in Westrock by 13.7% in the first quarter. Kempner Capital Management Inc. now owns 106,310 shares of the basic materials company’s stock worth $5,531,000 after buying an additional 12,825 shares in the last quarter. Institutional investors own 89.22% of the company’s stock.
Several research firms recently commented on WRK. Barclays PLC increased their price objective on Westrock from $54.00 to $58.00 and gave the company an “equal weight” rating in a research note on Monday. Jefferies Group LLC restated a “buy” rating and set a $69.00 target price on shares of Westrock in a report on Friday. BidaskClub cut Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research upgraded Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) upgraded Westrock from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $61.91.
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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