Rhumbline Advisers grew its stake in WestRock Co (NYSE:WRK) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 438,161 shares of the basic materials company’s stock after purchasing an additional 2,118 shares during the quarter. Rhumbline Advisers owned about 0.17% of WestRock worth $24,857,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of WRK. Mckinley Capital Management LLC Delaware bought a new position in shares of WestRock in the 2nd quarter worth about $100,000. Sun Life Financial INC grew its position in 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 purchasing an additional 1,828 shares during the last quarter. Old Mutual Global Investors UK Ltd. purchased a new stake in WestRock during the 3rd quarter valued at about $130,000. Northwestern Mutual Wealth Management Co. grew its position in 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 purchasing an additional 509 shares during the last quarter. Finally, FTB Advisors Inc. grew its position in WestRock by 186.2% during the 2nd quarter. FTB Advisors Inc. now owns 3,185 shares of the basic materials company’s stock valued at $180,000 after purchasing an additional 2,072 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.
In related news, insider Robert A. Feeser sold 29,972 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total value of $1,798,320.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $55.12, for a total value of $570,106.16. Following the completion of the sale, the director now owns 497,557 shares in the company, valued at approximately $27,425,341.84. The disclosure for this sale can be found here. Insiders sold 183,962 shares of company stock valued at $10,787,405 over the last quarter. 2.68% of the stock is currently owned by corporate insiders.
WestRock Co (WRK) traded up $1.07 during midday trading on Monday, reaching $63.47. 1,747,873 shares of the company’s stock traded hands, compared to its average volume of 1,447,774. The stock has a market capitalization of $15,887.94, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 1.44 and a beta of 1.37. WestRock Co has a 52 week low of $49.23 and a 52 week high of $63.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.49 and a quick ratio of 0.89.
WestRock (NYSE:WRK) last issued its earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.06. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.13 billion. WestRock had a net margin of 4.77% and a return on equity of 6.73%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.71 earnings per share. research analysts anticipate that WestRock Co will post 3.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Friday, November 10th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This is an increase from WestRock’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a yield of 2.71%. WestRock’s payout ratio is currently 62.09%.
Several analysts recently commented on the stock. Stephens initiated coverage on shares of WestRock in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 price objective on the stock. KeyCorp reaffirmed a “hold” rating on shares of WestRock in a report on Wednesday, October 11th. Barclays reissued a “hold” rating on shares of WestRock in a report on Friday, November 10th. Royal Bank Of Canada reissued a “buy” rating and issued a $65.00 price objective on shares of WestRock in a report on Monday, September 25th. Finally, Zacks Investment Research cut shares of WestRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. WestRock has a consensus rating of “Buy” and an average target price of $65.09.
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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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