Systematic Financial Management LP Acquires 484,539 Shares of Westrock Company (WRK)
Systematic Financial Management LP boosted its holdings in shares of Westrock Company (NYSE:WRK) by 171.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 767,613 shares of the basic materials company’s stock after purchasing an additional 484,539 shares during the period. Westrock makes up approximately 0.9% of Systematic Financial Management LP’s holdings, making the stock its 18th biggest position. Systematic Financial Management LP owned about 0.31% of Westrock worth $43,547,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in WRK. Mckinley Capital Management LLC Delaware acquired a new stake in Westrock during the second quarter valued at approximately $100,000. Sun Life Financial INC lifted its stake in Westrock by 26,114.3% during the second 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. acquired a new stake in Westrock during the third quarter valued at approximately $130,000. Northwestern Mutual Wealth Management Co. lifted its stake in Westrock by 25.0% during the second 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. lifted its stake in Westrock by 186.2% during the second 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. 86.92% of the stock is owned by institutional investors and hedge funds.
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In other Westrock 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 value of $1,072,874.88. Following the transaction, the insider now owns 24,859 shares in the company, valued at approximately $1,452,014.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John A. Luke, Jr. sold 153,718 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $55.40, for a total transaction of $8,515,977.20. Following the completion of the transaction, the director now owns 543,291 shares in the company, valued at approximately $30,098,321.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 443,379 shares of company stock worth $25,008,449. Company insiders own 2.68% of the company’s stock.
Westrock Company (WRK) traded up $0.35 during trading on Monday, reaching $59.50. 1,192,500 shares of the company’s stock traded hands, compared to its average volume of 1,453,238. The firm has a market cap of $15,110.00 and a price-to-earnings ratio of 22.71. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57. Westrock Company has a 1 year low of $49.23 and a 1 year high of $61.60.
Westrock (NYSE:WRK) last released its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ 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 4.77% and a return on equity of 6.73%. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.71 EPS. research analysts expect that Westrock Company will post 3.74 EPS for the current fiscal year.
The business also recently disclosed 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 annualized dividend and a yield of 2.89%. 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 currently 62.09%.
Several research firms recently commented on WRK. Stephens began coverage on shares of Westrock in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 target price for the company. Zacks Investment Research downgraded shares of Westrock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. KeyCorp restated a “hold” rating on shares of Westrock in a research report on Wednesday, October 11th. Barclays PLC upped 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, BidaskClub downgraded shares of Westrock from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Five investment 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. The company presently has a consensus rating of “Buy” and a consensus target price of $65.09.
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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