Westrock Company (WRK) Director Sells $576,932.54 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 21st. The shares were sold at an average price of $55.78, for a total value of $576,932.54. Following the completion of the sale, the director now owns 497,557 shares in the company, valued at $27,753,729.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Westrock Company (WRK) traded up 0.96% on Tuesday, reaching $54.85. The company’s stock had a trading volume of 1,165,500 shares. The firm’s 50 day moving average is $57.54 and its 200-day moving average is $54.65. The firm has a market cap of $13.76 billion, a P/E ratio of 33.28 and a beta of 1.37. Westrock Company has a 12 month low of $43.79 and a 12 month 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 for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, equities research analysts anticipate 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. Shareholders of record on Friday, August 11th were paid 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 2.94%. Westrock’s payout ratio is presently 97.56%.
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Several research firms have recently weighed in on WRK. Barclays PLC upped their price objective on Westrock from $52.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. Zacks Investment Research upgraded Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Friday, July 14th. Jefferies Group LLC reiterated a “buy” rating and issued a $68.00 price objective on shares of Westrock in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) upgraded Westrock from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 13th. Finally, BidaskClub lowered Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $61.91.
Hedge funds have recently bought and sold shares of the company. Ronna Sue Cohen boosted its stake in Westrock by 0.3% in the second quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock worth $261,000 after buying an additional 12 shares during the last quarter. Cleararc Capital Inc. boosted its stake in Westrock by 0.7% in the first quarter. Cleararc Capital Inc. now owns 6,144 shares of the basic materials company’s stock worth $320,000 after buying an additional 40 shares during the last quarter. Norinchukin Bank The boosted its stake in Westrock by 0.3% in the second quarter. Norinchukin Bank The now owns 20,926 shares of the basic materials company’s stock worth $1,186,000 after buying an additional 54 shares during the last quarter. First Midwest Bank Trust Division boosted its stake in Westrock by 0.5% in the second quarter. First Midwest Bank Trust Division now owns 10,845 shares of the basic materials company’s stock worth $614,000 after buying an additional 55 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in Westrock by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 4,495 shares of the basic materials company’s stock worth $255,000 after buying an additional 60 shares during the last quarter. 89.85% of the stock is currently owned by hedge funds and other institutional investors.
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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