Westrock Company (WRK) Holdings Trimmed by HighTower Advisors LLC
HighTower Advisors LLC decreased its position in Westrock Company (NYSE:WRK) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,537 shares of the basic materials company’s stock after selling 337 shares during the quarter. HighTower Advisors LLC’s holdings in Westrock were worth $1,393,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Westrock in the 2nd quarter valued at about $100,000. FNY Partners Fund LP raised its stake in shares of Westrock by 700.0% in the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 1,750 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Westrock by 25.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 509 shares during the period. Global X Management Co. LLC raised its stake in shares of Westrock by 36.9% in the 1st quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock valued at $167,000 after purchasing an additional 867 shares during the period. Finally, Pennsylvania Trust Co acquired a new stake in shares of Westrock in the 2nd quarter valued at about $201,000. 88.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Westrock Company (WRK) opened at 58.97 on Wednesday. The company has a market cap of $14.79 billion, a PE ratio of 35.78 and a beta of 1.35. The stock’s 50 day moving average price is $57.38 and its 200-day moving average price is $57.38. Westrock Company has a one year low of $43.79 and a one year high of $59.02.
Westrock (NYSE:WRK) last posted its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the firm posted $0.71 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Westrock Company will post $2.58 EPS for the current year.
Several research firms have issued reports on WRK. Jefferies Group LLC reissued a “buy” rating and issued a $65.00 price target on shares of Westrock in a research note on Thursday, June 22nd. Zacks Investment Research raised Westrock from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Friday, July 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $62.00 target price on shares of Westrock in a research report on Thursday, June 15th. Barclays PLC lifted their target price on Westrock from $52.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. Finally, BidaskClub raised Westrock from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Three equities 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 company’s stock. Westrock presently has a consensus rating of “Buy” and a consensus price target of $64.33.
In other news, Director John A. Luke, Jr. sold 153,718 shares of Westrock stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $55.40, for a total transaction of $8,515,977.20. Following the completion of the sale, the director now directly owns 543,291 shares of the company’s stock, valued at approximately $30,098,321.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction on Monday, July 24th. The stock was sold at an average price of $58.61, for a total transaction of $606,203.23. Following the sale, the director now directly owns 497,557 shares of the company’s stock, valued at $29,161,815.77. The disclosure for this sale can be found here. Insiders have sold a total of 453,722 shares of company stock valued at $25,488,985 over the last ninety days. 2.68% of the stock is currently owned by 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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