Russell Investments Group Ltd. Sells 51,002 Shares of WestRock Co (WRK)
Russell Investments Group Ltd. reduced its holdings in shares of WestRock Co (NYSE:WRK) by 10.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 434,526 shares of the basic materials company’s stock after selling 51,002 shares during the period. Russell Investments Group Ltd. owned about 0.17% of WestRock worth $24,650,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of WRK. AJO LP boosted its position in shares of WestRock by 13,639.1% during the 2nd quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock valued at $157,637,000 after acquiring an additional 2,761,910 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of WestRock by 327.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,998,206 shares of the basic materials company’s stock valued at $113,218,000 after acquiring an additional 1,530,797 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of WestRock by 2,916.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,024,046 shares of the basic materials company’s stock valued at $58,023,000 after acquiring an additional 990,097 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in shares of WestRock by 1,801.4% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 962,436 shares of the basic materials company’s stock valued at $37,410,000 after acquiring an additional 911,819 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of WestRock by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 26,211,606 shares of the basic materials company’s stock valued at $1,485,150,000 after acquiring an additional 484,771 shares in the last quarter. Institutional investors and hedge funds own 86.92% of the company’s stock.
In other news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 24,859 shares in the company, valued at $1,452,014.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $58.81, for a total transaction of $608,271.83. Following the transaction, the director now owns 497,557 shares in the company, valued at $29,261,327.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 453,722 shares of company stock worth $25,616,721. Company insiders own 2.68% of the company’s stock.
Several brokerages have recently weighed in on WRK. Stephens began coverage on shares of WestRock in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 target price on the stock. Zacks Investment Research lowered shares of WestRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. KeyCorp reiterated a “hold” rating on shares of WestRock in a research report on Wednesday, October 11th. Barclays PLC boosted their price target on shares of WestRock from $58.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, November 6th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $65.00 price target (up from $61.00) on shares of WestRock in a research report on Monday, October 9th. Five 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 currently has an average rating of “Buy” and a consensus price target of $65.09.
WestRock Co (WRK) traded up $0.07 during trading hours on Friday, reaching $58.86. 350,754 shares of the company’s stock were exchanged, compared to its average volume of 1,447,556. The firm has a market capitalization of $14,968.78, a price-to-earnings ratio of 22.44, a PEG ratio of 1.36 and a beta of 1.37. WestRock Co has a 52-week low of $49.23 and a 52-week high of $61.60. 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 (NYSE:WRK) last released its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.06. The firm had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.13 billion. WestRock had a net margin of 4.81% and a return on equity of 7.68%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. analysts expect that WestRock Co will post 3.74 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Friday, November 10th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This is a positive change from WestRock’s previous quarterly dividend of $0.40. This represents a $1.72 dividend on an annualized basis and a yield of 2.92%. WestRock’s payout ratio is 62.09%.
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.
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