Westrock Company (WRK) Director John A. Luke, Jr. Sells 10,343 Shares
Westrock Company (NYSE:WRK) Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $56.26, for a total value of $581,897.18. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $27,992,556.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Westrock Company (WRK) traded down 0.41% during mid-day trading on Tuesday, hitting $56.31. The stock had a trading volume of 683,453 shares. The firm has a 50 day moving average of $57.63 and a 200 day moving average of $54.56. The stock has a market cap of $14.13 billion, a price-to-earnings ratio of 34.17 and a beta of 1.37. Westrock Company has a one year low of $43.57 and a one year high of $60.36.
Westrock (NYSE:WRK) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.66 billion. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.71 earnings per share. On average, analysts forecast that Westrock Company will post $2.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, August 9th. Westrock’s payout ratio is 97.56%.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Westrock from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating and issued a $65.00 price target on shares of Westrock in a report on Thursday, June 22nd. Barclays PLC increased their price target on Westrock from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. Royal Bank Of Canada increased their price target on Westrock from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, April 27th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $62.00 price target on shares of Westrock in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $61.91.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Westrock by 1.9% in the second quarter. Vanguard Group Inc. now owns 26,211,606 shares of the basic materials company’s stock valued at $1,485,150,000 after buying an additional 484,771 shares during the period. BlackRock Inc. boosted its stake in shares of Westrock by 0.8% in the second quarter. BlackRock Inc. now owns 22,598,192 shares of the basic materials company’s stock valued at $1,280,411,000 after buying an additional 180,112 shares during the last quarter. FMR LLC boosted its stake in shares of Westrock by 4.1% in the first quarter. FMR LLC now owns 19,597,012 shares of the basic materials company’s stock valued at $1,019,633,000 after buying an additional 772,990 shares during the last quarter. Boston Partners boosted its stake in shares of Westrock by 0.5% in the second quarter. Boston Partners now owns 9,097,512 shares of the basic materials company’s stock valued at $515,465,000 after buying an additional 48,092 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Westrock by 10.3% in the second quarter. American Century Companies Inc. now owns 3,265,213 shares of the basic materials company’s stock valued at $185,007,000 after buying an additional 304,605 shares during the last quarter. Institutional investors own 89.85% of the company’s stock.
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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