MML Investors Services LLC boosted its holdings in Westrock Co (NYSE:WRK) by 6.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,233 shares of the basic materials company’s stock after acquiring an additional 1,336 shares during the quarter. MML Investors Services LLC’s holdings in Westrock were worth $847,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in WRK. CSat Investment Advisory L.P. increased its stake in shares of Westrock by 60.0% in the 1st quarter. CSat Investment Advisory L.P. now owns 795 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 298 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of Westrock by 47.6% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,042 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 336 shares in the last quarter. Signaturefd LLC increased its stake in Westrock by 154.1% in the 2nd quarter. Signaturefd LLC now owns 1,080 shares of the basic materials company’s stock worth $39,000 after buying an additional 655 shares in the last quarter. SRS Capital Advisors Inc. purchased a new stake in Westrock in the 2nd quarter worth $48,000. Finally, Kavar Capital Partners LLC purchased a new stake in Westrock in the 2nd quarter worth $60,000. 82.23% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on WRK shares. UBS Group set a $44.00 price target on Westrock and gave the stock a “buy” rating in a research note on Monday, June 24th. KeyCorp lowered Westrock from a “sector weight” rating to an “underweight” rating and set a $32.00 price target for the company. in a research note on Monday, July 15th. Finally, Zacks Investment Research upgraded Westrock from a “strong sell” rating to a “hold” rating and set a $30.00 price target for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Westrock currently has a consensus rating of “Hold” and an average target price of $44.20.
Shares of NYSE:WRK traded down $0.44 during trading on Thursday, reaching $36.36. The company’s stock had a trading volume of 87,432 shares, compared to its average volume of 2,091,234. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.82. Westrock Co has a 12 month low of $31.94 and a 12 month high of $57.23. The firm’s 50 day simple moving average is $34.98 and its two-hundred day simple moving average is $36.48. The stock has a market capitalization of $9.75 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 2.14 and a beta of 1.62.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.09. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.83 billion. Westrock had a net margin of 4.65% and a return on equity of 8.97%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. Research analysts anticipate that Westrock Co will post 3.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th were paid a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 5.01%. The ex-dividend date was Thursday, August 8th. Westrock’s payout ratio is currently 44.50%.
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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