State Treasurer State of Michigan maintained its position in shares of WestRock Co. (NYSE:WRK) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,782 shares of the company’s stock at the end of the third quarter. State Treasurer State of Michigan’s holdings in WestRock were worth $4,256,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in WRK. Handelsbanken Fonder AB boosted its position in WestRock by 62.5% in the second quarter. Handelsbanken Fonder AB now owns 130,000 shares of the company’s stock valued at $5,053,000 after buying an additional 50,000 shares during the period. Nisa Investment Advisors LLC boosted its position in WestRock by 45.7% in the second quarter. Nisa Investment Advisors LLC now owns 29,444 shares of the company’s stock valued at $1,144,000 after buying an additional 9,240 shares during the period. Union Bankshares Corp boosted its position in WestRock by 22.4% in the second quarter. Union Bankshares Corp now owns 76,477 shares of the company’s stock valued at $2,973,000 after buying an additional 14,014 shares during the period. DAVENPORT & Co LLC boosted its position in WestRock by 3,949.1% in the second quarter. DAVENPORT & Co LLC now owns 283,717 shares of the company’s stock valued at $11,028,000 after buying an additional 276,710 shares during the period. Finally, Salem Capital Management Inc. boosted its position in WestRock by 13.2% in the second quarter. Salem Capital Management Inc. now owns 73,959 shares of the company’s stock valued at $2,875,000 after buying an additional 8,600 shares during the period. 88.29% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for WestRock (NYSE:WRK)

WestRock Co. (NYSE:WRK) traded down 0.37% during midday trading on Monday, reaching $50.92. The company’s stock had a trading volume of 1,734,484 shares. WestRock Co. has a 12-month low of $29.73 and a 12-month high of $52.10. The firm has a 50 day moving average price of $47.56 and a 200-day moving average price of $44.08. The company’s market cap is $12.64 billion.

WestRock (NYSE:WRK) last posted its quarterly earnings data on Monday, November 7th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.08. WestRock had a positive return on equity of 6.41% and a negative net margin of 2.72%. The business earned $3.61 billion during the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company earned $0.93 EPS. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities research analysts predict that WestRock Co. will post $2.85 earnings per share for the current fiscal year.

The firm 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 represents a $1.60 annualized dividend and a dividend yield of 3.13%. This is an increase from WestRock’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, November 17th. WestRock’s dividend payout ratio is presently -103.23%.

TRADEMARK VIOLATION WARNING: This story was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another website, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The original version of this story can be read at https://www.thecerbatgem.com/2016/11/28/state-treasurer-state-of-michigan-maintains-stake-in-westrock-co-wrk.html.

Several research firms have recently issued reports on WRK. Goldman Sachs Group Inc. began coverage on WestRock in a research note on Thursday, September 22nd. They set a “neutral” rating and a $53.00 target price on the stock. Jefferies Group reissued a “buy” rating and set a $62.00 target price on shares of WestRock in a research note on Wednesday, November 23rd. Barclays PLC boosted their target price on WestRock from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 11th. Credit Suisse Group AG set a $50.00 target price on WestRock and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Deutsche Bank AG set a $50.00 target price on WestRock and gave the company a “buy” rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned 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 target price of $53.12.

In other news, insider James B. Porter sold 110,000 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $48.19, for a total value of $5,300,900.00. Following the sale, the insider now directly owns 66,258 shares in the company, valued at $3,192,973.02. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director G Stephen Felker sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 16th. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the sale, the director now owns 73,420 shares in the company, valued at $3,671,000. The disclosure for this sale can be found here. 2.41% of the stock is owned by insiders.

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.

5 Day Chart for NYSE:WRK

Receive News & Stock Ratings for WestRock Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WestRock Co. and related stocks with our FREE daily email newsletter.