Westrock Company (WRK) Director John A. Luke, Jr. Sells 10,343 Shares
Westrock Company (NYSE:WRK) Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $57.37, for a total transaction of $593,377.91. Following the sale, the director now owns 497,557 shares of the company’s stock, valued at $28,544,845.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Westrock Company (NYSE:WRK) opened at 58.06 on Wednesday. The company has a market capitalization of $14.56 billion, a PE ratio of 35.23 and a beta of 1.35. Westrock Company has a one year low of $43.79 and a one year high of $59.02. The stock’s 50 day moving average is $57.10 and its 200 day moving average is $57.10.
Westrock (NYSE:WRK) last announced its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. On average, analysts anticipate that Westrock Company will post $2.60 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Asset Management Americas Inc. grew its holdings in Westrock by 11.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 683,318 shares of the basic materials company’s stock valued at $35,553,000 after buying an additional 69,329 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Westrock by 3.4% during the first quarter. Pacer Advisors Inc. now owns 3,924 shares of the basic materials company’s stock valued at $204,000 after buying an additional 130 shares during the period. Nordea Investment Management AB increased its position in shares of Westrock by 13.0% during the first quarter. Nordea Investment Management AB now owns 10,627 shares of the basic materials company’s stock valued at $553,000 after buying an additional 1,219 shares during the period. Neuberger Berman Group LLC increased its position in shares of Westrock by 8.2% during the first quarter. Neuberger Berman Group LLC now owns 12,049 shares of the basic materials company’s stock valued at $627,000 after buying an additional 914 shares during the period. Finally, Tredje AP fonden lifted its holdings in shares of Westrock by 44.4% in the first quarter. Tredje AP fonden now owns 50,010 shares of the basic materials company’s stock worth $2,602,000 after buying an additional 15,385 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.
A number of equities research analysts have recently issued reports on WRK shares. BidaskClub cut Westrock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research lowered Westrock from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. KeyCorp reiterated a “hold” rating on shares of Westrock in a research note on Thursday, June 29th. Royal Bank Of Canada reiterated a “buy” rating and set a $65.00 target price on shares of Westrock in a research note on Monday, September 25th. Finally, BMO Capital Markets reissued a “buy” rating and set a $62.00 price target on shares of Westrock in a report on Thursday, June 15th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Westrock currently has a consensus rating of “Buy” and an average price target of $63.78.
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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