Victory Capital Management Inc. raised its holdings in shares of Westrock Company (NYSE:WRK) by 13.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,114 shares of the basic materials company’s stock after buying an additional 17,844 shares during the period. Victory Capital Management Inc. owned about 0.06% of Westrock worth $8,289,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Crossmark Global Holdings Inc. purchased a new stake in Westrock during the third quarter valued at about $1,698,000. Pictet Asset Management Ltd. boosted its position in Westrock by 19.8% during the third quarter. Pictet Asset Management Ltd. now owns 988,039 shares of the basic materials company’s stock valued at $56,052,000 after buying an additional 163,029 shares during the period. State of New Jersey Common Pension Fund D boosted its position in Westrock by 2.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 755,000 shares of the basic materials company’s stock valued at $42,831,000 after buying an additional 15,000 shares during the period. Korea Investment CORP boosted its position in Westrock by 5.3% during the third quarter. Korea Investment CORP now owns 198,731 shares of the basic materials company’s stock valued at $11,274,000 after buying an additional 10,000 shares during the period. Finally, Aperio Group LLC boosted its position in Westrock by 3.9% during the third quarter. Aperio Group LLC now owns 142,042 shares of the basic materials company’s stock valued at $8,058,000 after buying an additional 5,386 shares during the period. Institutional investors and hedge funds own 88.80% of the company’s stock.
Several equities analysts have recently commented on WRK shares. BidaskClub downgraded shares of Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Deutsche Bank AG reaffirmed a “buy” rating and set a $65.00 price objective (up from $61.00) on shares of Westrock in a research note on Monday, October 9th. Jefferies Group LLC reaffirmed a “buy” rating and set a $69.00 price objective on shares of Westrock in a research note on Friday, August 4th. Barclays PLC upped their price objective on shares of Westrock from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, November 6th. Finally, DA Davidson reaffirmed a “buy” rating and set a $74.00 price objective on shares of Westrock in a research note on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $65.09.
Westrock Company (NYSE:WRK) opened at $58.66 on Wednesday. Westrock Company has a one year low of $48.97 and a one year high of $61.60. The stock has a market cap of $14,733.71, a PE ratio of 22.46, a P/E/G ratio of 1.36 and a beta of 1.37. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.57.
Westrock (NYSE:WRK) last released its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.06. Westrock had a net margin of 4.77% and a return on equity of 6.73%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the prior year, the firm earned $0.71 earnings per share. Westrock’s revenue was up 12.4% on a year-over-year basis. analysts anticipate that Westrock Company will post 3.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, November 10th will be paid a $0.43 dividend. This is an increase from Westrock’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Thursday, November 9th. Westrock’s dividend payout ratio is presently 62.09%.
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In related news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $58.55, for a total value of $605,582.65. Following the completion of the transaction, the director now directly owns 497,557 shares of the company’s stock, valued at $29,131,962.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey Wayne Chalovich sold 18,368 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the completion of the transaction, the insider now directly owns 24,859 shares of the company’s stock, valued at $1,452,014.19. The disclosure for this sale can be found here. Over the last three months, insiders sold 453,722 shares of company stock valued at $25,585,382. 2.68% of the stock is owned by insiders.
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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