Teachers Retirement System of The State of Kentucky Sells 2,250 Shares of Westrock Company (WRK)
Teachers Retirement System of The State of Kentucky cut its holdings in Westrock Company (NYSE:WRK) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,304 shares of the basic materials company’s stock after selling 2,250 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Westrock were worth $1,547,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in WRK. BlackRock Inc. raised its position in shares of Westrock by 3,569.1% during the 1st quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock valued at $1,166,413,000 after purchasing an additional 21,807,090 shares during the period. Ronna Sue Cohen raised its position in shares of Westrock by 0.3% during the 2nd quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock valued at $261,000 after purchasing an additional 12 shares during the period. Aviva PLC raised its position in shares of Westrock by 0.4% during the 2nd quarter. Aviva PLC now owns 156,270 shares of the basic materials company’s stock valued at $8,856,000 after purchasing an additional 640 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in shares of Westrock during the 2nd quarter valued at $2,221,000. Finally, Thrivent Financial For Lutherans raised its position in shares of Westrock by 48.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 1,328,089 shares of the basic materials company’s stock valued at $75,250,000 after purchasing an additional 434,790 shares during the period. Institutional investors and hedge funds own 88.57% of the company’s stock.
In other Westrock news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $59.43, for a total transaction of $614,684.49. Following the completion of the transaction, the director now directly owns 497,557 shares in the company, valued at $29,569,812.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Wayne Chalovich sold 18,368 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the transaction, the insider now owns 24,859 shares of the company’s stock, valued at $1,452,014.19. The disclosure for this sale can be found here. Over the last quarter, insiders sold 443,379 shares of company stock valued at $24,890,539. Company insiders own 2.68% of the company’s stock.
Westrock Company (NYSE WRK) opened at 57.89 on Friday. The company’s 50-day moving average is $57.20 and its 200 day moving average is $57.20. The stock has a market capitalization of $14.52 billion, a PE ratio of 35.13 and a beta of 1.35. Westrock Company has a 1-year low of $43.79 and a 1-year high of $59.02.
Westrock (NYSE:WRK) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the business posted $0.71 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Equities analysts predict that Westrock Company will post $2.59 earnings per share for the current year.
Several analysts have recently commented on the stock. Royal Bank Of Canada restated a “buy” rating and set a $65.00 price objective on shares of Westrock in a research report on Monday, September 25th. BidaskClub upgraded shares of Westrock from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Barclays PLC raised their price objective on shares of Westrock from $54.00 to $58.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and set a $69.00 price objective on shares of Westrock in a research report on Friday, August 4th. Finally, Zacks Investment Research upgraded shares of Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Friday, July 14th. Three analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.78.
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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