WestRock Co. (WRK) Insider James B. Porter Sells 110,000 Shares
WestRock Co. (NYSE:WRK) insider James B. Porter sold 110,000 shares of the business’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $48.19, for a total transaction of $5,300,900.00. Following the sale, the insider now directly owns 66,258 shares in the company, valued at approximately $3,192,973.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of WestRock Co. (NYSE:WRK) opened at 49.42 on Tuesday. The firm has a 50-day moving average of $46.93 and a 200 day moving average of $43.46. WestRock Co. has a 1-year low of $29.73 and a 1-year high of $52.62. The company’s market capitalization is $12.29 billion.
WestRock (NYSE:WRK) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.71 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.08. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $2.54 billion. WestRock had a negative net margin of 2.72% and a positive return on equity of 6.41%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 EPS. On average, equities research analysts expect that WestRock Co. will post $2.84 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Monday, November 21st will be issued a $0.40 dividend. This is a positive change from WestRock’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, November 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.24%. WestRock’s dividend payout ratio is presently -96.77%.
Several institutional investors have recently modified their holdings of the company. Kennedy Capital Management Inc. raised its position in shares of WestRock by 4.3% in the first quarter. Kennedy Capital Management Inc. now owns 50,691 shares of the company’s stock worth $1,978,000 after buying an additional 2,106 shares during the last quarter. National Pension Service raised its position in WestRock by 4.4% in the first quarter. National Pension Service now owns 160,199 shares of the company’s stock valued at $6,253,000 after buying an additional 6,807 shares in the last quarter. Legal & General Group Plc raised its position in WestRock by 1.6% in the first quarter. Legal & General Group Plc now owns 1,112,234 shares of the company’s stock valued at $43,406,000 after buying an additional 17,865 shares in the last quarter. Silvercrest Asset Management Group LLC raised its position in WestRock by 919.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 48,798 shares of the company’s stock valued at $1,905,000 after buying an additional 44,010 shares in the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in WestRock during the first quarter valued at approximately $988,000. 91.79% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Deutsche Bank AG set a $50.00 target price on shares of WestRock and gave the stock a “buy” rating in a research note on Friday, August 5th. BMO Capital Markets reaffirmed a “buy” rating and set a $52.00 target price on shares of WestRock in a research note on Friday, August 5th. Bank of America Corp. reaffirmed a “hold” rating and set a $45.00 target price on shares of WestRock in a research note on Friday, August 5th. Jefferies Group reiterated a “buy” rating on shares of WestRock in a report on Monday, August 22nd. Finally, Credit Suisse Group AG set a $50.00 price target on shares of WestRock and gave the stock a “buy” rating in a report on Friday, August 5th. Two 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. The stock presently has a consensus rating of “Hold” and an average price target of $52.89.
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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