WestRock Co (WRK) Holdings Lifted by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC grew its stake in shares of WestRock Co (NYSE:WRK) by 194.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,186 shares of the basic materials company’s stock after purchasing an additional 25,880 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in WestRock were worth $2,223,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of WRK. Vanguard Group Inc. boosted its stake in WestRock by 1.9% in 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 purchasing an additional 484,771 shares during the period. BlackRock Inc. boosted its stake in WestRock by 0.8% in the 2nd quarter. BlackRock Inc. now owns 22,598,192 shares of the basic materials company’s stock valued at $1,280,411,000 after purchasing an additional 180,112 shares during the period. American Century Companies Inc. boosted its stake in WestRock by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 3,492,402 shares of the basic materials company’s stock valued at $198,124,000 after purchasing an additional 227,189 shares during the period. AJO LP boosted its stake in WestRock by 13,639.1% in the 2nd quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock valued at $157,637,000 after purchasing an additional 2,761,910 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in WestRock by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,616,992 shares of the basic materials company’s stock valued at $148,463,000 after purchasing an additional 33,316 shares during the period. 87.95% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on WRK shares. Zacks Investment Research downgraded WestRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Barclays boosted their price target on WestRock from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, November 6th. Stephens initiated coverage on WestRock in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 target price for the company. Deutsche Bank reiterated a “buy” rating and set a $65.00 target price (up from $61.00) on shares of WestRock in a research report on Monday, October 9th. Finally, DA Davidson reiterated a “buy” rating and set a $74.00 target price on shares of WestRock in a research report on Friday, November 3rd. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. WestRock has an average rating of “Buy” and an average price target of $66.09.
In other WestRock news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $57.37, for a total value of $593,377.91. Following the transaction, the director now owns 497,557 shares in the company, valued at $28,544,845.09. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jennifer Graham-Johnson sold 7,700 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $59.23, for a total value of $456,071.00. The disclosure for this sale can be found here. In the last three months, insiders sold 161,788 shares of company stock valued at $9,629,984. Insiders own 2.68% of the company’s stock.
Shares of WestRock Co (NYSE:WRK) traded up $0.36 during mid-day trading on Thursday, hitting $64.30. The stock had a trading volume of 1,523,800 shares, compared to its average volume of 1,452,020. The firm has a market capitalization of $16,330.00 and a PE ratio of 24.41. 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 Co has a 12 month low of $49.23 and a 12 month high of $64.87.
WestRock (NYSE:WRK) last issued its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.06. The company had revenue of $4.06 billion during the quarter, compared to analysts’ expectations of $4.13 billion. WestRock had a return on equity of 6.73% and a net margin of 4.77%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. equities analysts forecast that WestRock Co will post 3.72 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Friday, November 10th were paid a $0.43 dividend. This is a boost from WestRock’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.72 annualized dividend and a dividend yield of 2.67%. 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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