Westrock Company (NYSE:WRK) Stake Maintained by Glenmede Trust Co. NA
Glenmede Trust Co. NA held its stake in shares of Westrock Company (NYSE:WRK) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,670 shares of the basic materials company’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in Westrock were worth $592,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of WRK. Elkhorn Investments LLC purchased a new stake in Westrock during the fourth quarter valued at $834,000. Kentucky Retirement Systems purchased a new stake in Westrock during the fourth quarter valued at approximately $925,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Westrock during the fourth quarter valued at approximately $413,000. Searle & CO. purchased a new stake in Westrock during the fourth quarter valued at approximately $235,000. Finally, Macquarie Group Ltd. raised its stake in Westrock by 93.1% in the fourth quarter. Macquarie Group Ltd. now owns 258,381 shares of the basic materials company’s stock valued at $13,118,000 after buying an additional 124,555 shares during the period. 89.09% of the stock is owned by institutional investors and hedge funds.
Shares of Westrock Company (NYSE:WRK) traded up 1.31% during mid-day trading on Friday, reaching $57.33. 2,080,650 shares of the company’s stock were exchanged. Westrock Company has a 52-week low of $40.63 and a 52-week high of $60.36. The stock’s 50-day moving average is $57.82 and its 200-day moving average is $54.34. The stock has a market cap of $14.22 billion, a price-to-earnings ratio of 79.74 and a beta of 1.37.
Westrock (NYSE:WRK) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Westrock had a net margin of 1.29% and a return on equity of 6.35%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 earnings per share. On average, equities analysts expect that Westrock Company will post $2.58 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.79%. Westrock’s dividend payout ratio (DPR) is currently 225.35%.
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A number of research analysts have commented on WRK shares. Barclays PLC upped their price target on Westrock from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 18th. Zacks Investment Research raised Westrock from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a report on Friday, July 14th. Jefferies Group LLC restated a “buy” rating and issued a $68.00 price objective on shares of Westrock in a research report on Friday, July 14th. Goldman Sachs Group, Inc. (The) upgraded Westrock from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, July 13th. Finally, BidaskClub downgraded Westrock from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Westrock has a consensus rating of “Buy” and a consensus target price of $61.45.
In other Westrock news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $58.61, for a total transaction of $606,203.23. Following the completion of the sale, the director now owns 497,557 shares of the company’s stock, valued at approximately $29,161,815.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 31,029 shares of company stock valued at $1,812,094. 2.68% of the stock is owned by company insiders.
Westrock Company Profile
WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company also develops real estate in the Charleston, South Carolina region. The Company’s segments include Corrugated Packaging, Consumer Packaging, and Land and Development.
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