Meag Munich Ergo Kapitalanlagegesellschaft MBH Has $7.21 Million Stake in Westrock Company (WRK)
Meag Munich Ergo Kapitalanlagegesellschaft MBH lowered its position in shares of Westrock Company (NYSE:WRK) by 30.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 126,591 shares of the basic materials company’s stock after selling 55,908 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH owned about 0.05% of Westrock worth $7,210,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Mckinley Capital Management LLC Delaware purchased a new position in shares of Westrock in the second quarter worth about $100,000. Sun Life Financial INC increased its holdings in shares of Westrock by 26,114.3% in the second 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. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Westrock in the third quarter worth about $130,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Westrock by 25.0% in the second 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. increased its holdings 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 period. 88.80% of the stock is owned by hedge funds and other institutional investors.
In related news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $59.22, for a total value of $612,512.46. Following the completion of the transaction, the director now owns 497,557 shares of the company’s stock, valued at approximately $29,465,325.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Wayne Chalovich sold 18,368 shares of the 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 completion of the transaction, the insider now directly owns 24,859 shares of the company’s stock, valued at approximately $1,452,014.19. The disclosure for this sale can be found here. Insiders sold a total of 443,379 shares of company stock valued at $24,979,799 in the last quarter. 2.68% of the stock is currently owned by company insiders.
A number of research analysts recently issued reports on the company. Barclays PLC reiterated a “hold” rating on shares of Westrock in a report on Friday. Stephens initiated coverage on Westrock in a report on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 target price on the stock. Zacks Investment Research downgraded Westrock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 7th. KeyCorp reissued a “hold” rating on shares of Westrock in a research report on Wednesday, October 11th. Finally, BidaskClub raised Westrock from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $65.09.
Shares of Westrock Company (NYSE WRK) traded down $0.37 on Monday, reaching $58.66. 1,185,700 shares of the company’s stock were exchanged, compared to its average volume of 1,455,555. The stock has a market cap of $14,688.64, a price-to-earnings ratio of 22.39, a PEG ratio of 1.35 and a beta of 1.37. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.49. Westrock Company has a 1-year low of $47.47 and a 1-year high of $61.60.
Westrock (NYSE:WRK) last posted its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, topping the 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 return on equity of 6.73% and a net margin of 4.77%. Westrock’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 EPS. research analysts expect that Westrock Company will post 3.74 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, November 10th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Thursday, November 9th. This is a positive change from Westrock’s previous quarterly dividend of $0.40. Westrock’s dividend payout ratio is presently 62.09%.
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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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