Insider Selling: WestRock Co (WRK) Director Sells 124,621 Shares of Stock

WestRock Co (NYSE:WRK) Director John A. Luke, Jr. sold 124,621 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $65.34, for a total transaction of $8,142,736.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of WestRock Co (NYSE:WRK) traded up $0.75 during midday trading on Wednesday, hitting $65.30. 682,429 shares of the company traded hands, compared to its average volume of 2,030,000. The company has a current ratio of 1.28, a quick ratio of 0.74 and a debt-to-equity ratio of 0.47. WestRock Co has a 12 month low of $49.23 and a 12 month high of $71.55. The stock has a market capitalization of $16,640.00 and a P/E ratio of 9.56.

WestRock (NYSE:WRK) last issued its earnings results on Monday, January 29th. The basic materials company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.75 by $0.12. WestRock had a net margin of 11.51% and a return on equity of 7.45%. The company had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.95 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. equities analysts predict that WestRock Co will post 3.88 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, February 26th. Investors of record on Friday, February 16th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Thursday, February 15th. WestRock’s payout ratio is 25.18%.

Several equities research analysts have issued reports on the stock. Stephens set a $74.00 target price on shares of WestRock and gave the company a “hold” rating in a research report on Monday, January 29th. KeyCorp reiterated a “hold” rating on shares of WestRock in a research report on Wednesday, October 11th. Barclays restated a “hold” rating on shares of WestRock in a report on Friday, November 10th. BMO Capital Markets boosted their price objective on shares of WestRock to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Finally, Zacks Investment Research upgraded shares of WestRock from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Saturday. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $73.92.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in WestRock during the 2nd quarter valued at $19,438,000. Macquarie Group Ltd. lifted its stake in WestRock by 21.0% during the 2nd quarter. Macquarie Group Ltd. now owns 294,230 shares of the basic materials company’s stock valued at $16,671,000 after acquiring an additional 51,091 shares during the period. Janus Henderson Group PLC lifted its stake in WestRock by 2,916.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,024,046 shares of the basic materials company’s stock valued at $58,023,000 after acquiring an additional 990,097 shares during the period. BlueCrest Capital Management Ltd bought a new position in WestRock during the 2nd quarter valued at about $378,000. Finally, The Manufacturers Life Insurance Company lifted its stake in WestRock by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 327,649 shares of the basic materials company’s stock valued at $18,565,000 after acquiring an additional 29,625 shares during the period. 87.51% of the stock is currently owned by institutional investors.

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About WestRock

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.

Insider Buying and Selling by Quarter for WestRock (NYSE:WRK)

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