Westrock Company (NYSE:WRK) insider Jeffrey Wayne Chalovich sold 18,368 shares of Westrock stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the completion of the sale, the insider now directly owns 24,859 shares in the company, valued at approximately $1,452,014.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Westrock Company (NYSE:WRK) opened at 57.56 on Friday. Westrock Company has a one year low of $43.79 and a one year high of $59.02. The stock has a market cap of $14.44 billion, a P/E ratio of 34.93 and a beta of 1.37. The firm has a 50 day moving average of $57.61 and a 200 day moving average of $56.04.
Westrock (NYSE:WRK) last announced its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, topping the consensus estimate 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 period last year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities research analysts predict that Westrock Company will post $2.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend was Wednesday, August 9th. Westrock’s payout ratio is 97.56%.
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Several institutional investors and hedge funds have recently made changes to their positions in WRK. BlackRock Inc. boosted its holdings in shares of Westrock by 3,569.1% in the first quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock worth $1,166,413,000 after buying an additional 21,807,090 shares during the period. AJO LP boosted its holdings in shares of Westrock by 13,639.1% in the second quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock worth $157,637,000 after buying an additional 2,761,910 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Westrock by 450.1% in the first quarter. AQR Capital Management LLC now owns 2,486,279 shares of the basic materials company’s stock worth $129,362,000 after buying an additional 2,034,341 shares during the period. Bank of Montreal Can boosted its holdings in shares of Westrock by 262.9% in the second quarter. Bank of Montreal Can now owns 2,547,693 shares of the basic materials company’s stock worth $144,353,000 after buying an additional 1,845,658 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of Westrock by 327.5% in the second quarter. Prudential Financial Inc. now owns 1,998,206 shares of the basic materials company’s stock worth $113,218,000 after buying an additional 1,530,797 shares during the period. Institutional investors own 88.63% of the company’s stock.
A number of analysts recently commented on the stock. BidaskClub raised shares of Westrock from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Barclays PLC boosted their price objective on shares of Westrock from $54.00 to $58.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. Jefferies Group LLC reissued a “buy” rating and set a $69.00 price objective on shares of Westrock in a report on Friday, August 4th. Zacks Investment Research raised shares of Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a report on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Westrock from a “buy” rating to a “conviction-buy” rating in a report on Thursday, July 13th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Westrock currently has a consensus rating of “Buy” and a consensus price target of $63.44.
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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