WestRock Co (WRK) Shares Bought by FTB Advisors Inc.
FTB Advisors Inc. lifted its holdings in shares of WestRock Co (NYSE:WRK) by 78.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,685 shares of the basic materials company’s stock after purchasing an additional 2,500 shares during the quarter. FTB Advisors Inc.’s holdings in WestRock were worth $322,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 buying an additional 484,771 shares during the last quarter. BlackRock Inc. raised its position 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 buying an additional 180,112 shares during the last quarter. Boston Partners raised its position in WestRock by 0.5% in the 2nd quarter. Boston Partners now owns 9,097,512 shares of the basic materials company’s stock valued at $515,465,000 after buying an additional 48,092 shares during the last quarter. American Century Companies Inc. raised its position 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 buying an additional 227,189 shares during the last quarter. Finally, AJO LP raised its position 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 buying an additional 2,761,910 shares during the last quarter. 86.92% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on WRK shares. Barclays PLC reaffirmed a “hold” rating on shares of WestRock in a research report on Friday, November 10th. Zacks Investment Research lowered WestRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. DA Davidson reaffirmed a “buy” rating and set a $74.00 price target on shares of WestRock in a research report on Friday, November 3rd. Stephens started coverage on WestRock in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 price target on the stock. Finally, KeyCorp reaffirmed a “hold” rating on shares of WestRock in a research report on Wednesday, October 11th. 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. The company currently has a consensus rating of “Buy” and an average price target of $65.09.
Shares of WestRock Co (NYSE:WRK) traded up $0.07 during midday trading on Monday, hitting $58.86. The stock had a trading volume of 350,700 shares, compared to its average volume of 1,444,567. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.49 and a quick ratio of 0.89. WestRock Co has a one year low of $49.23 and a one year high of $61.60. The company has a market cap of $14,990.00 and a P/E ratio of 22.47.
WestRock (NYSE:WRK) last released its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.06. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.13 billion. WestRock had a return on equity of 6.73% and a net margin of 4.77%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. equities analysts predict that WestRock Co will post 3.74 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This is an increase from WestRock’s previous quarterly dividend of $0.40. This represents a $1.72 annualized dividend and a yield of 2.92%. WestRock’s payout ratio is 62.09%.
In related news, Director John A. Luke, Jr. sold 153,718 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $55.40, for a total value of $8,515,977.20. Following the completion of the sale, the director now directly owns 543,291 shares in the company, valued at approximately $30,098,321.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Luke, Jr. sold 76,855 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $56.89, for a total value of $4,372,280.95. Following the completion of the sale, the director now owns 543,289 shares of the company’s stock, valued at $30,907,711.21. The disclosure for this sale can be found here. Insiders sold a total of 366,520 shares of company stock valued at $20,815,379 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.
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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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