Cornerstone Capital Management Holdings LLC. trimmed its position in shares of Westrock Company (NYSE:WRK) by 34.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,419 shares of the basic materials company’s stock after selling 59,566 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Westrock were worth $6,425,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WRK. BlackRock Inc. raised its stake in shares of Westrock by 3,569.1% during the first quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock valued at $1,166,413,000 after acquiring an additional 21,807,090 shares during the last quarter. AJO LP raised its stake in shares of Westrock by 13,639.1% during 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 during the last quarter. AQR Capital Management LLC raised its stake in shares of 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 valued at $129,362,000 after acquiring an additional 2,034,341 shares during the last quarter. Bank of Montreal Can raised its stake in shares of 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 valued at $144,353,000 after acquiring an additional 1,845,658 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Westrock by 327.5% during the second quarter. Prudential Financial Inc. now owns 1,998,206 shares of the basic materials company’s stock valued at $113,218,000 after acquiring 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 brokerages have recently commented on WRK. Deutsche Bank AG reaffirmed a “buy” rating and set a $65.00 price objective (up from $61.00) on shares of Westrock in a research note on Monday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 price objective on shares of Westrock in a research note on Monday, September 25th. BidaskClub raised shares of Westrock from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Barclays PLC upped their price objective on shares of Westrock from $54.00 to $58.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Finally, 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. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $64.33.

In other news, Director John A. Luke, Jr. sold 87,202 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $55.06, for a total value of $4,801,342.12. Following the completion of the sale, the director now owns 497,557 shares in the company, valued at approximately $27,395,488.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John A. Luke, Jr. sold 10,343 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $58.61, for a total transaction of $606,203.23. Following the completion of the sale, the director now owns 497,557 shares of the company’s stock, valued at approximately $29,161,815.77. The disclosure for this sale can be found here. In the last 90 days, insiders sold 453,722 shares of company stock valued at $25,488,985. Company insiders own 2.68% of the company’s stock.

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Westrock Company (NYSE:WRK) opened at 58.97 on Wednesday. The company’s 50 day moving average is $57.38 and its 200 day moving average is $57.38. The stock has a market cap of $14.79 billion, a PE ratio of 35.78 and a beta of 1.35. Westrock Company has a 12 month low of $43.79 and a 12 month high of $59.02.

Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating 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 analyst estimates of $3.66 billion. During the same quarter last year, the business posted $0.71 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts anticipate that Westrock Company will post $2.58 EPS for the current fiscal year.

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.

Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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