Westrock Company (WRK) Stake Raised by First Trust Advisors LP
First Trust Advisors LP boosted its position in Westrock Company (NYSE:WRK) by 19.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,649 shares of the basic materials company’s stock after buying an additional 55,623 shares during the period. First Trust Advisors LP owned about 0.14% of Westrock worth $19,131,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. FNY Partners Fund LP raised its position in shares of Westrock by 700.0% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $104,000 after buying an additional 1,750 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Westrock by 16.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,039 shares of the basic materials company’s stock worth $106,000 after buying an additional 294 shares in the last quarter. Global X Management Co. LLC raised its position in shares of Westrock by 36.9% in the first quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock worth $167,000 after buying an additional 867 shares in the last quarter. Pennsylvania Trust Co purchased a new position in shares of Westrock during the second quarter worth approximately $201,000. Finally, Pacer Advisors Inc. raised its position in shares of Westrock by 3.4% in the first quarter. Pacer Advisors Inc. now owns 3,924 shares of the basic materials company’s stock worth $204,000 after buying an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 89.85% of the company’s stock.
Shares of Westrock Company (NYSE WRK) opened at 56.29 on Friday. The company has a market cap of $14.12 billion, a P/E ratio of 34.16 and a beta of 1.37. Westrock Company has a 12 month low of $43.57 and a 12 month high of $60.36. The company’s 50 day moving average is $57.61 and its 200-day moving average is $54.62.
Westrock (NYSE:WRK) last released its quarterly earnings data 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 company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.66 billion. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.71 EPS. Analysts expect that Westrock Company will post $2.62 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Wednesday, August 9th. Westrock’s payout ratio is 97.56%.
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Several equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Westrock from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Deutsche Bank AG boosted their target price on shares of Westrock from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Zacks Investment Research downgraded shares of Westrock from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. KeyCorp reissued a “hold” rating on shares of Westrock in a research report on Thursday, June 29th. Finally, Barclays PLC boosted their target price on shares of Westrock from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $61.91.
In other news, Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly 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 available through this hyperlink. Insiders have sold a total of 51,715 shares of company stock valued at $2,986,231 over the last ninety days. 2.68% of the stock is owned by insiders.
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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