Strs Ohio increased its position in shares of Westrock Company (NYSE:WRK) by 36.9% during the second quarter, Holdings Channel reports. The fund owned 18,080 shares of the basic materials company’s stock after buying an additional 4,874 shares during the period. Strs Ohio’s holdings in Westrock were worth $1,024,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Westrock by 3,569.1% in the first quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock worth $1,166,413,000 after buying an additional 21,807,090 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Westrock by 450.1% in the first quarter. AQR Capital Management LLC now owns 2,486,279 shares of the basic materials company’s stock worth $129,362,000 after buying an additional 2,034,341 shares during the last quarter. Bank of Montreal Can raised its position in shares of Westrock by 262.9% in the second quarter. Bank of Montreal Can now owns 2,547,693 shares of the basic materials company’s stock worth $144,353,000 after buying an additional 1,845,658 shares during the last quarter. Janus Capital Management LLC raised its position in shares of Westrock by 149.8% in the first quarter. Janus Capital Management LLC now owns 2,095,551 shares of the basic materials company’s stock worth $109,032,000 after buying an additional 1,256,498 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Westrock by 4.5% in the first quarter. Vanguard Group Inc. now owns 25,726,835 shares of the basic materials company’s stock worth $1,338,567,000 after buying an additional 1,105,605 shares during the last quarter. 89.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Westrock Company (NYSE:WRK) opened at 56.31 on Wednesday. Westrock Company has a 12 month low of $43.57 and a 12 month high of $60.36. The company has a market cap of $14.13 billion, a price-to-earnings ratio of 34.17 and a beta of 1.37. The stock has a 50 day moving average of $57.61 and a 200-day moving average of $54.57.

Westrock (NYSE:WRK) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter last year, the firm posted $0.71 EPS. Westrock’s revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Westrock Company will post $2.62 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Friday, August 11th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, August 9th. Westrock’s payout ratio is currently 97.56%.

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A number of research analysts have weighed in on WRK shares. Goldman Sachs Group, Inc. (The) raised shares of Westrock from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $61.00 in a research note on Tuesday, April 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $66.00 price target on shares of Westrock in a research note on Thursday, April 27th. TheStreet raised shares of Westrock from a “c+” rating to a “b-” rating in a research note on Thursday, May 11th. Barclays PLC lifted their price target on shares of Westrock from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, May 1st. Finally, Royal Bank Of Canada raised shares of Westrock from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $54.00 to $59.00 in a research note on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $61.91.

In related news, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction on Monday, July 24th. The shares were sold at an average price of $58.61, for a total value of $606,203.23. Following the completion of the sale, the director now owns 497,557 shares of the company’s stock, valued at approximately $29,161,815.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 51,715 shares of company stock valued at $2,986,231. 2.68% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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