Stevens Capital Management LP reduced its holdings in shares of Westrock Company (NYSE:WRK) by 77.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,012 shares of the basic materials company’s stock after selling 132,168 shares during the quarter. Stevens Capital Management LP’s holdings in Westrock were worth $2,154,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. FNY Partners Fund LP lifted its stake in shares of Westrock by 700.0% during the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $104,000 after buying an additional 1,750 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of 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 valued at $106,000 after buying an additional 294 shares in the last quarter. Global X Management Co. LLC lifted its stake in shares of 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 valued at $167,000 after buying an additional 867 shares in the last quarter. Pennsylvania Trust Co purchased a new stake in shares of Westrock during the 2nd quarter valued at approximately $201,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Westrock by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 3,924 shares of the basic materials company’s stock valued at $204,000 after buying an additional 130 shares in the last quarter. Institutional investors own 88.57% of the company’s stock.
WRK has been the topic of a number of recent research reports. BidaskClub cut shares of Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $69.00 target price on shares of Westrock in a research note on Friday, August 4th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 13th. KeyCorp reiterated a “hold” rating on shares of Westrock in a research note on Thursday, June 29th. Finally, Zacks Investment Research cut shares of Westrock from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $63.44.
Westrock (NYSE:WRK) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.10. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $0.71 earnings per share.
In other news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $58.41, for a total value of $1,072,874.88. Following the transaction, the insider now owns 24,859 shares of the company’s stock, valued at $1,452,014.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Luke, Jr. sold 153,718 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $55.40, for a total transaction of $8,515,977.20. Following the completion of the transaction, the director now directly owns 543,291 shares in the company, valued at approximately $30,098,321.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 422,693 shares of company stock valued at $23,727,055. Company insiders own 2.68% of the company’s stock.
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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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