WestRock Co (WRK) Shares Sold by Gateway Investment Advisers LLC
Gateway Investment Advisers LLC reduced its holdings in shares of WestRock Co (NYSE:WRK) by 5.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 234,282 shares of the basic materials company’s stock after selling 13,993 shares during the period. Gateway Investment Advisers LLC’s holdings in WestRock were worth $14,809,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of WestRock during the 2nd quarter valued at approximately $100,000. Sun Life Financial INC boosted its stake in shares of WestRock by 26,114.3% during the 2nd quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after buying an additional 1,828 shares during the last quarter. Invictus RG purchased a new position in shares of WestRock during the 3rd quarter valued at approximately $108,000. Old Mutual Global Investors UK Ltd. purchased a new position in shares of WestRock during the 3rd quarter valued at approximately $130,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of WestRock by 25.0% during 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 buying an additional 509 shares during the last quarter. Institutional investors own 87.73% of the company’s stock.
In other WestRock news, EVP Jennifer Graham-Johnson sold 7,700 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $59.23, for a total value of $456,071.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $60.70, for a total value of $627,820.10. Following the completion of the sale, the director now directly owns 497,557 shares in the company, valued at $30,201,709.90. The disclosure for this sale can be found here. Insiders have sold 141,102 shares of company stock worth $8,578,618 over the last 90 days. 2.68% of the stock is currently owned by company insiders.
WestRock (NYSE:WRK) last announced its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.06. WestRock had a return on equity of 6.73% and a net margin of 4.77%. The firm had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. analysts predict that WestRock Co will post 3.79 EPS for the current fiscal year.
Several research firms have recently commented on WRK. Stephens set a $72.00 target price on WestRock and gave the company a “hold” rating in a research note on Wednesday, January 10th. Royal Bank of Canada reiterated a “buy” rating and set a $65.00 target price on shares of WestRock in a research note on Monday, September 25th. KeyCorp reiterated a “hold” rating on shares of WestRock in a research note on Wednesday, October 11th. DA Davidson restated a “buy” rating and set a $74.00 price objective on shares of WestRock in a research note on Friday, November 3rd. Finally, Deutsche Bank restated a “buy” rating and set a $65.00 price objective (up from $61.00) on shares of WestRock in a research note on Monday, October 9th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $67.09.
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.
Want to see what other hedge funds are holding WRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WestRock Co (NYSE:WRK).
Receive News & Ratings for WestRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WestRock and related companies with MarketBeat.com's FREE daily email newsletter.