CENTRAL TRUST Co Cuts Stake in Westrock Company (NYSE:WRK)
CENTRAL TRUST Co decreased its stake in shares of Westrock Company (NYSE:WRK) by 1.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,451 shares of the basic materials company’s stock after selling 84 shares during the period. CENTRAL TRUST Co’s holdings in Westrock Company were worth $422,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in WRK. Trust Department MB Financial Bank N A boosted its stake in Westrock Company by 0.4% in the first quarter. Trust Department MB Financial Bank N A now owns 7,831 shares of the basic materials company’s stock valued at $407,000 after buying an additional 31 shares during the period. Cleararc Capital Inc. boosted its stake in Westrock Company by 0.7% in the first quarter. Cleararc Capital Inc. now owns 6,144 shares of the basic materials company’s stock valued at $320,000 after buying an additional 40 shares during the period. First Midwest Bank Trust Division boosted its stake in Westrock Company by 0.6% in the first quarter. First Midwest Bank Trust Division now owns 10,790 shares of the basic materials company’s stock valued at $561,000 after buying an additional 60 shares during the period. Advantus Capital Management Inc boosted its stake in Westrock Company by 0.4% in the first quarter. Advantus Capital Management Inc now owns 25,002 shares of the basic materials company’s stock valued at $1,301,000 after buying an additional 89 shares during the period. Finally, Capital Innovations LLC boosted its stake in Westrock Company by 2.3% in the first quarter. Capital Innovations LLC now owns 4,839 shares of the basic materials company’s stock valued at $252,000 after buying an additional 110 shares during the period. 88.89% of the stock is currently owned by institutional investors and hedge funds.
Westrock Company (NYSE:WRK) opened at 59.65 on Monday. Westrock Company has a one year low of $40.63 and a one year high of $60.36. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of 82.96 and a beta of 1.37. The company has a 50-day moving average of $55.37 and a 200 day moving average of $53.31.
Westrock Company (NYSE:WRK) last posted its earnings results on Wednesday, April 26th. The basic materials company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.07. Westrock Company had a net margin of 1.29% and a return on equity of 6.35%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period in the previous year, the firm posted $0.61 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Westrock Company will post $2.55 EPS for the current year.
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Several research firms have recently commented on WRK. Zacks Investment Research raised shares of Westrock Company from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Tuesday, June 27th. Jefferies Group LLC reissued a “buy” rating and set a $68.00 price target on shares of Westrock Company in a research note on Friday. Barclays PLC increased their price target on shares of Westrock Company from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, May 1st. Royal Bank Of Canada increased their price target on shares of Westrock Company from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, April 27th. Finally, BMO Capital Markets reissued a “buy” rating and set a $62.00 price target on shares of Westrock Company in a research note on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $61.27.
In other Westrock Company news, Director John A. Luke, Jr. sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $53.83, for a total transaction of $4,037,250.00. Following the sale, the director now directly owns 495,435 shares of the company’s stock, valued at approximately $26,669,266.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.68% of the company’s stock.
Westrock Company 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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