Monetary Management Group Inc. Trims Position in Westrock Company (WRK)
Monetary Management Group Inc. cut its position in shares of Westrock Company (NYSE:WRK) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,925 shares of the basic materials company’s stock after selling 350 shares during the quarter. Monetary Management Group Inc.’s holdings in Westrock were worth $732,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of WRK. BlackRock Inc. raised its holdings in Westrock by 3,569.1% during the first quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock worth $1,166,413,000 after purchasing an additional 21,807,090 shares during the last quarter. AJO LP raised its holdings in Westrock by 13,639.1% during the second quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock worth $157,637,000 after purchasing an additional 2,761,910 shares during the last quarter. AQR Capital Management LLC raised its holdings in Westrock by 450.1% during the first quarter. AQR Capital Management LLC now owns 2,486,279 shares of the basic materials company’s stock worth $129,362,000 after purchasing an additional 2,034,341 shares during the last quarter. Bank of Montreal Can raised its holdings in Westrock by 262.9% during the second quarter. Bank of Montreal Can now owns 2,547,693 shares of the basic materials company’s stock worth $144,353,000 after purchasing an additional 1,845,658 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in Westrock by 327.5% during the second quarter. Prudential Financial Inc. now owns 1,998,206 shares of the basic materials company’s stock worth $113,218,000 after purchasing an additional 1,530,797 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 price objective on shares of Westrock in a report on Monday, September 25th. BidaskClub raised Westrock from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Barclays PLC lifted their price objective on Westrock from $54.00 to $58.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. Jefferies Group LLC reaffirmed a “buy” rating and set a $69.00 price objective on shares of Westrock in a report on Friday, August 4th. Finally, Zacks Investment Research raised Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Friday, July 14th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $63.78.
In other news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $57.37, for a total value of $593,377.91. Following the transaction, the director now directly owns 497,557 shares of the company’s stock, valued at $28,544,845.09. 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 153,718 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $55.40, for a total transaction of $8,515,977.20. Following the completion of the transaction, the director now directly owns 543,291 shares in the company, valued at $30,098,321.40. The disclosure for this sale can be found here. Insiders sold 443,379 shares of company stock valued at $24,890,539 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.
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Westrock Company (NYSE WRK) traded down 0.05% during trading on Thursday, hitting $58.16. The stock had a trading volume of 237,417 shares. The stock has a market cap of $14.59 billion, a PE ratio of 35.29 and a beta of 1.35. The firm’s 50-day moving average price is $57.16 and its 200-day moving average price is $57.16. Westrock Company has a 1-year low of $43.79 and a 1-year high of $59.02.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, beating 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 return on equity of 6.38% and a net margin of 2.92%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. On average, equities research analysts predict that Westrock Company will post $2.59 earnings per share for the current fiscal year.
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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