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 company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $58.55, for a total transaction of $605,582.65. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at $29,131,962.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Westrock Company (NYSE WRK) opened at $58.84 on Tuesday. The firm has a market cap of $14,688.64, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 1.35 and a beta of 1.37. 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 Company has a 12 month low of $48.11 and a 12 month 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. equities research analysts expect that Westrock Company will post 3.74 earnings per share for the current 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 2.92%. The ex-dividend date of this dividend 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%.
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Several research firms recently commented on WRK. Barclays PLC reissued a “hold” rating on shares of Westrock in a research note on Friday. 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 lowered shares of Westrock from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 7th. KeyCorp restated a “hold” rating on shares of Westrock in a report on Wednesday, October 11th. Finally, BidaskClub upgraded shares of Westrock from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Westrock has a consensus rating of “Buy” and an average target price of $65.09.
A number of institutional investors have recently added to or reduced their stakes in the business. Ronna Sue Cohen increased its stake in Westrock by 0.3% in the 2nd quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock valued at $261,000 after buying an additional 12 shares during the period. Norinchukin Bank The increased its stake in Westrock by 0.3% in the 2nd quarter. Norinchukin Bank The now owns 20,926 shares of the basic materials company’s stock valued at $1,186,000 after buying an additional 54 shares during the period. First Midwest Bank Trust Division increased its stake in Westrock by 0.5% in the 2nd quarter. First Midwest Bank Trust Division now owns 10,845 shares of the basic materials company’s stock valued at $614,000 after buying an additional 55 shares during the period. Wetherby Asset Management Inc. increased its stake in Westrock by 1.4% in the 2nd quarter. Wetherby Asset Management Inc. now owns 4,495 shares of the basic materials company’s stock valued at $255,000 after buying an additional 60 shares during the period. Finally, ING Groep NV increased its stake in Westrock by 0.9% in the 2nd quarter. ING Groep NV now owns 10,112 shares of the basic materials company’s stock valued at $573,000 after buying an additional 93 shares during the period. Hedge funds and other institutional investors own 88.80% of the company’s stock.
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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