Deprince Race & Zollo Inc. Lowers Position in Westrock Company (WRK)
Deprince Race & Zollo Inc. reduced its stake in shares of Westrock Company (NYSE:WRK) by 96.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,830 shares of the basic materials company’s stock after selling 491,368 shares during the period. Deprince Race & Zollo Inc.’s holdings in Westrock were worth $897,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. FNY Partners Fund LP raised its stake in Westrock by 700.0% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $104,000 after buying an additional 1,750 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in 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 valued at $106,000 after buying an additional 294 shares during the period. Global X Management Co. LLC raised its stake in 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 valued at $167,000 after buying an additional 867 shares during the period. Pennsylvania Trust Co purchased a new stake in Westrock during the second quarter valued at $201,000. Finally, Pacer Advisors Inc. raised its stake in Westrock by 3.4% in the first quarter. Pacer Advisors Inc. now owns 3,924 shares of the basic materials company’s stock valued at $204,000 after buying an additional 130 shares during the period. 89.85% of the stock is currently owned by institutional investors.
Shares of Westrock Company (NYSE:WRK) opened at 56.29 on Monday. Westrock Company has a 12 month low of $43.57 and a 12 month high of $60.36. The stock has a 50 day moving average price of $57.61 and a 200 day moving average price of $54.62. The stock has a market capitalization of $14.12 billion, a P/E ratio of 34.16 and a beta of 1.37.
Westrock (NYSE:WRK) last issued its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.10. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 EPS. On average, analysts anticipate that Westrock Company will post $2.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Friday, August 11th will be issued a $0.40 dividend. 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 analysts have weighed in on the company. BidaskClub lowered Westrock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Deutsche Bank AG upped their target price on Westrock from $58.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Zacks Investment Research lowered Westrock from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. KeyCorp reissued a “hold” rating on shares of Westrock in a report on Thursday, June 29th. Finally, Barclays PLC upped their target price on Westrock from $50.00 to $52.00 and gave the company an “equal weight” rating in a 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 given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $61.91.
In related news, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction on Monday, August 14th. The stock was sold at an average price of $56.26, for a total value of $581,897.18. Following the transaction, the director now directly owns 497,557 shares in the company, valued at approximately $27,992,556.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 51,715 shares of company stock worth $2,986,231 over the last 90 days. Insiders own 2.68% of the company’s stock.
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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