Hamlin Capital Management LLC Acquires New Position in WestRock Co. (WRK)
Hamlin Capital Management LLC acquired a new stake in WestRock Co. (NYSE:WRK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 562,150 shares of the company’s stock, valued at approximately $21,851,000. Hamlin Capital Management LLC owned approximately 0.23% of WestRock at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its position in shares of WestRock by 3.5% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 31,974 shares of the company’s stock valued at $1,459,000 after buying an additional 1,080 shares during the period. PGGM Investments boosted its position in shares of WestRock by 2.5% in the first quarter. PGGM Investments now owns 172,400 shares of the company’s stock valued at $6,729,000 after buying an additional 4,201 shares during the period. Nisa Investment Advisors L.L.C. boosted its position in shares of WestRock by 14.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 20,204 shares of the company’s stock valued at $789,000 after buying an additional 2,600 shares during the period. Virginia Retirement System purchased a new position in shares of WestRock during the first quarter valued at about $1,209,000. Finally, IFP Advisors Inc boosted its position in shares of WestRock by 6.2% in the first quarter. IFP Advisors Inc now owns 5,660 shares of the company’s stock valued at $221,000 after buying an additional 328 shares during the period. 90.32% of the stock is currently owned by institutional investors.
Shares of WestRock Co. (NYSE:WRK) traded up 0.29% during mid-day trading on Wednesday, hitting $47.74. The stock had a trading volume of 1,850,770 shares. WestRock Co. has a 12 month low of $29.73 and a 12 month high of $57.85. The firm’s market cap is $11.87 billion. The stock’s 50-day moving average is $46.73 and its 200 day moving average is $41.60.
WestRock (NYSE:WRK) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. WestRock had a positive return on equity of 6.71% and a negative net margin of 1.27%. The business had revenue of $3.60 million for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter in the prior year, the company earned $1.15 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. Equities research analysts predict that WestRock Co. will post $3.96 earnings per share for the current fiscal year.
Several research analysts recently issued reports on WRK shares. Citigroup Inc. increased their price objective on WestRock from $43.30 to $46.00 and gave the stock a “buy” rating in a research note on Monday, June 13th. Deutsche Bank AG reissued a “buy” rating and issued a $46.00 price objective on shares of WestRock in a research note on Wednesday, June 15th. Zacks Investment Research cut WestRock from a “hold” rating to a “strong sell” rating in a research note on Monday, July 4th. Credit Suisse Group AG set a $50.00 target price on WestRock and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Jefferies Group increased their target price on WestRock from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $53.04.
In other news, Director John A. Luke, Jr. sold 188,103 shares of the company’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $46.62, for a total transaction of $8,769,361.86. Following the sale, the director now owns 837,343 shares of the company’s stock, valued at $39,036,930.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.41% of the company’s stock.
WestRock Company Profile
Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.
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