Piedmont Investment Advisors LLC decreased its position in Westrock Company (NYSE:WRK) by 88.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,708 shares of the basic materials company’s stock after selling 100,173 shares during the period. Piedmont Investment Advisors LLC’s holdings in Westrock were worth $720,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of WRK. Mckinley Capital Management LLC Delaware purchased a new stake in shares of Westrock during the 2nd quarter worth approximately $100,000. Sun Life Financial INC boosted its holdings in Westrock by 26,114.3% in the 2nd quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock worth $104,000 after buying an additional 1,828 shares during the period. FNY Partners Fund LP boosted its holdings in Westrock by 700.0% in the 1st quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $104,000 after buying an additional 1,750 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 worth $144,000 after buying an additional 509 shares during the period. Finally, FTB Advisors Inc. boosted its holdings in Westrock by 186.2% in the 2nd quarter. FTB Advisors Inc. now owns 3,185 shares of the basic materials company’s stock worth $180,000 after buying an additional 2,072 shares during the period. Hedge funds and other institutional investors own 88.73% of the company’s stock.
Shares of Westrock Company (WRK) traded down 2.770% during mid-day trading on Friday, reaching $58.795. 649,221 shares of the company’s stock were exchanged. The company has a market capitalization of $14.75 billion, a PE ratio of 35.677 and a beta of 1.35. Westrock Company has a one year low of $43.79 and a one year high of $61.50. The company’s 50-day moving average price is $58.06 and its 200-day moving average price is $56.28.
Westrock (NYSE:WRK) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.10. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.66 billion. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 EPS. On average, equities analysts expect that Westrock Company will post $2.55 earnings per share for the current year.
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In other Westrock news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the sale, the insider now directly owns 24,859 shares in the company, valued at $1,452,014.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Luke, Jr. sold 87,202 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $55.06, for a total transaction of $4,801,342.12. Following the sale, the director now owns 497,557 shares in the company, valued at $27,395,488.42. The disclosure for this sale can be found here. In the last three months, insiders sold 453,722 shares of company stock valued at $25,504,810. 2.68% of the stock is owned by insiders.
Several research analysts have commented on WRK shares. KeyCorp reissued a “hold” rating on shares of Westrock in a report on Thursday, June 29th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, July 13th. Zacks Investment Research cut shares of Westrock from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and issued a $68.00 target price on shares of Westrock in a research report on Friday, July 14th. Finally, Barclays PLC boosted their price objective on shares of Westrock from $52.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Westrock presently has an average rating of “Buy” and an average price target of $64.00.
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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