Andra AP fonden Lowers Stake in Westrock Company (WRK)
Andra AP fonden decreased its stake in Westrock Company (NYSE:WRK) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,400 shares of the basic materials company’s stock after selling 2,400 shares during the period. Andra AP fonden’s holdings in Westrock were worth $4,046,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the company. FNY Partners Fund LP boosted its stake 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 valued at $104,000 after buying an additional 1,750 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 valued at $106,000 after buying an additional 294 shares during the last quarter. Global X Management Co. LLC boosted its stake 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 valued at $167,000 after buying an additional 867 shares during the last quarter. Pennsylvania Trust Co purchased a new stake in shares of Westrock during the second quarter valued at approximately $201,000. Finally, Pacer Advisors Inc. boosted its stake 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 valued at $204,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 88.62% of the company’s stock.
Westrock Company (NYSE:WRK) opened at 55.26 on Wednesday. The stock has a 50 day moving average price of $57.30 and a 200 day moving average price of $54.66. The firm has a market cap of $13.86 billion, a price-to-earnings ratio of 33.53 and a beta of 1.37. Westrock Company has a 52 week low of $43.79 and a 52 week high of $60.36.
Westrock (NYSE:WRK) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the business posted $0.71 earnings per share. Westrock’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts expect that Westrock Company will post $2.62 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Friday, August 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Wednesday, August 9th. Westrock’s dividend payout ratio (DPR) is presently 97.56%.
Several analysts recently commented on WRK shares. TheStreet upgraded Westrock from a “c+” rating to a “b-” rating in a research report on Thursday, May 11th. Jefferies Group LLC reiterated a “buy” rating and set a $69.00 price target on shares of Westrock in a research report on Friday, August 4th. Zacks Investment Research raised Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Friday, July 14th. BMO Capital Markets reissued a “buy” rating and set a $62.00 price objective on shares of Westrock in a research note on Thursday, June 15th. Finally, Goldman Sachs Group, Inc. (The) raised Westrock from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $61.91.
In other news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $58.61, for a total value of $606,203.23. Following the transaction, the director now directly owns 497,557 shares of the company’s stock, valued at $29,161,815.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Luke, Jr. sold 87,202 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $55.06, for a total transaction of $4,801,342.12. Following the completion of the transaction, the director now directly owns 497,557 shares in the company, valued at $27,395,488.42. The disclosure for this sale can be found here. Insiders sold 149,260 shares of company stock worth $8,364,506 over the last ninety days. 2.68% of the stock is currently 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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