State Street Corp cut its position in Westrock Company (NYSE:WRK) by 4.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,986,348 shares of the basic materials company’s stock after selling 560,698 shares during the quarter. State Street Corp owned 4.38% of Westrock worth $622,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Westrock by 1.9% in the second quarter. Vanguard Group Inc. now owns 26,211,606 shares of the basic materials company’s stock valued at $1,485,150,000 after purchasing an additional 484,771 shares during the period. BlackRock Inc. boosted its stake in shares of Westrock by 0.8% in the second quarter. BlackRock Inc. now owns 22,598,192 shares of the basic materials company’s stock valued at $1,280,411,000 after purchasing an additional 180,112 shares during the period. Boston Partners raised its holdings in Westrock by 0.5% in the second quarter. Boston Partners now owns 9,097,512 shares of the basic materials company’s stock valued at $515,465,000 after acquiring an additional 48,092 shares in the last quarter. American Century Companies Inc. raised its holdings in Westrock by 10.3% in the second quarter. American Century Companies Inc. now owns 3,265,213 shares of the basic materials company’s stock valued at $185,007,000 after acquiring an additional 304,605 shares in the last quarter. Finally, AJO LP raised its holdings in Westrock by 13,639.1% in the second quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock valued at $157,637,000 after acquiring an additional 2,761,910 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

Several analysts recently issued reports on the stock. BidaskClub cut shares of Westrock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research cut shares of Westrock from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. KeyCorp reaffirmed a “hold” rating on shares of Westrock in a report on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 price target on shares of Westrock in a report on Monday, September 25th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $62.00 price target on shares of Westrock in a report on Thursday, June 15th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Westrock presently has a consensus rating of “Buy” and an average target price of $64.33.

In other Westrock news, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction on Monday, July 24th. The shares were sold at an average price of $58.61, for a total transaction of $606,203.23. Following the sale, the director now owns 497,557 shares in the company, valued at $29,161,815.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Wayne Chalovich sold 18,368 shares of Westrock 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 sale, the insider now owns 24,859 shares in the company, valued at approximately $1,452,014.19. The disclosure for this sale can be found here. Insiders have sold 453,722 shares of company stock worth $25,488,985 in the last quarter. Corporate insiders own 2.68% of the company’s stock.

Shares of Westrock Company (WRK) opened at 58.95 on Wednesday. The firm has a market capitalization of $14.79 billion, a PE ratio of 35.77 and a beta of 1.35. Westrock Company has a one year low of $43.79 and a one year high of $59.10. The firm’s 50 day moving average is $57.38 and its 200-day moving average is $57.38.

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 firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the company earned $0.71 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Westrock Company will post $2.58 earnings per share for the current fiscal year.

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About Westrock

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.

Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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