WestRock Co. (WRK) Stake Decreased by Northwestern Mutual Investment Management Company LLC
Northwestern Mutual Investment Management Company LLC reduced its stake in WestRock Co. (NYSE:WRK) by 5.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 962,436 shares of the company’s stock after selling 56,276 shares during the period. Northwestern Mutual Investment Management Company LLC owned about 0.39% of WestRock worth $37,410,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of WRK. DNB Asset Management AS raised its position in WestRock by 3.3% in the second quarter. DNB Asset Management AS now owns 15,594 shares of the company’s stock valued at $606,000 after buying an additional 500 shares in the last quarter. British Columbia Investment Management Corp raised its position in WestRock by 35.4% in the second quarter. British Columbia Investment Management Corp now owns 165,918 shares of the company’s stock valued at $6,449,000 after buying an additional 43,418 shares in the last quarter. Raymond James Trust N.A. raised its position in WestRock by 11.8% in the second quarter. Raymond James Trust N.A. now owns 11,255 shares of the company’s stock valued at $438,000 after buying an additional 1,188 shares in the last quarter. Fulton Bank N.A. raised its position in WestRock by 35.4% in the second quarter. Fulton Bank N.A. now owns 8,851 shares of the company’s stock valued at $344,000 after buying an additional 2,316 shares in the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in WestRock during the first quarter valued at about $1,859,000. 91.79% of the stock is owned by hedge funds and other institutional investors.
Shares of WestRock Co. (NYSE:WRK) opened at 47.95 on Monday. The company’s market capitalization is $11.93 billion. The firm’s 50 day moving average price is $46.93 and its 200-day moving average price is $43.46. WestRock Co. has a 1-year low of $29.73 and a 1-year high of $52.62.
WestRock (NYSE:WRK) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.08. The firm earned $3.61 billion during the quarter, compared to analysts’ expectations of $2.54 billion. WestRock had a positive return on equity of 6.41% and a negative net margin of 2.72%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 EPS. Analysts expect that WestRock Co. will post $2.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Monday, November 21st will be paid a dividend of $0.40 per share. This is a boost from WestRock’s previous quarterly dividend of $0.38. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, November 17th. WestRock’s dividend payout ratio is -96.77%.
Several equities analysts have recently issued reports on the company. Credit Agricole SA lifted their price target on WestRock from $46.00 to $54.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 6th. Citigroup Inc. lifted their price target on WestRock from $52.00 to $56.00 and gave the stock a “buy” rating in a research report on Wednesday, August 31st. Deutsche Bank AG lifted their price target on WestRock from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, September 23rd. Goldman Sachs Group Inc. assumed coverage on WestRock in a research report on Thursday, September 22nd. They issued a “neutral” rating and a $53.00 price target for the company. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $56.00 price target on shares of WestRock in a research report on Monday, November 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $52.89.
In related 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 completion of the sale, the director now directly owns 837,343 shares in the company, valued at approximately $39,036,930.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate 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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