Westrock Company (WRK) Insider Sells $1,072,874.88 in Stock
Westrock Company (NYSE:WRK) insider Jeffrey Wayne Chalovich sold 18,368 shares of Westrock stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $58.41, for a total value of $1,072,874.88. Following the completion of the sale, the insider now directly owns 24,859 shares of the company’s stock, valued at approximately $1,452,014.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Westrock Company (NYSE:WRK) traded up 0.12% during mid-day trading on Thursday, reaching $57.40. The company’s stock had a trading volume of 930,975 shares. The stock has a 50-day moving average price of $57.86 and a 200-day moving average price of $55.12. Westrock Company has a one year low of $43.79 and a one year high of $59.02. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 34.83 and a beta of 1.37.
Westrock (NYSE:WRK) last issued its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.10. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.66 billion. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. Equities research analysts forecast that Westrock Company will post $2.61 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Friday, August 11th were paid a $0.40 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.79%. Westrock’s dividend payout ratio (DPR) is 97.56%.
Several brokerages recently commented on WRK. Barclays PLC lifted their price objective on Westrock from $52.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 18th. Zacks Investment Research raised Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Friday, July 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Westrock in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) raised Westrock from a “buy” rating to a “conviction-buy” rating in a report on Thursday, July 13th. Finally, BidaskClub lowered Westrock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Three 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 stock. The company presently has a consensus rating of “Buy” and an average target price of $63.44.
Institutional investors and hedge funds have recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware acquired a new stake in Westrock during the 2nd quarter worth about $100,000. FNY Partners Fund LP grew its position in Westrock by 700.0% during the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 1,750 shares during the period. Sun Life Financial INC grew its position in Westrock by 26,114.3% during the 2nd quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock worth $104,000 after purchasing an additional 1,828 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Westrock by 16.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,039 shares of the basic materials company’s stock worth $106,000 after purchasing an additional 294 shares during the period. Finally, Global X Management Co. LLC grew its position in Westrock by 36.9% during the 1st quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 867 shares during the period. 88.63% of the stock is currently owned by 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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