Los Angeles Capital Management & Equity Research Inc. reduced its stake in Westrock Company (NYSE:WRK) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,927 shares of the basic materials company’s stock after selling 350 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Westrock were worth $1,979,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Westrock by 3,569.1% in the 1st quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock worth $1,166,413,000 after purchasing an additional 21,807,090 shares during the last quarter. Ronna Sue Cohen boosted its position in shares of Westrock by 0.3% in the 2nd quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock worth $261,000 after purchasing an additional 12 shares during the last quarter. Aviva PLC boosted its position in shares of Westrock by 0.4% in the 2nd quarter. Aviva PLC now owns 156,270 shares of the basic materials company’s stock worth $8,856,000 after purchasing an additional 640 shares during the last quarter. Alambic Investment Management L.P. bought a new position in shares of Westrock in the 1st quarter worth $282,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Westrock in the 2nd quarter worth $2,221,000. Institutional investors and hedge funds own 88.63% of the company’s stock.
In other Westrock news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the company’s stock in a transaction on 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 sale, the insider now owns 24,859 shares of the company’s stock, valued at $1,452,014.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $59.43, for a total transaction of $614,684.49. Following the sale, the director now directly owns 497,557 shares in the company, valued at approximately $29,569,812.51. The disclosure for this sale can be found here. Insiders have sold 422,693 shares of company stock worth $23,727,055 in the last ninety days. Insiders own 2.68% of the company’s stock.
Westrock Company (NYSE:WRK) opened at 57.56 on Friday. Westrock Company has a 12-month low of $43.79 and a 12-month high of $59.02. The company has a market capitalization of $14.44 billion, a price-to-earnings ratio of 34.93 and a beta of 1.37. The firm’s 50-day moving average price is $57.61 and its 200 day moving average price is $56.04.
Westrock (NYSE:WRK) last issued its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.10. The business 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 business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.71 earnings per share. On average, analysts expect that Westrock Company will post $2.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 11th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, August 9th. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. Westrock’s dividend payout ratio (DPR) is currently 97.56%.
Several research analysts have recently issued reports on the company. BidaskClub lowered Westrock from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Barclays PLC raised their price target on Westrock from $54.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and issued a $69.00 price target on shares of Westrock in a research report on Friday, August 4th. Goldman Sachs Group, Inc. (The) upgraded Westrock from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, July 13th. Finally, BMO Capital Markets restated a “buy” rating and issued a $62.00 price target on shares of Westrock in a research report on Thursday, June 15th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $63.44.
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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