Westrock Company (WRK) Director John A. Luke, Jr. Sells 87,202 Shares of Stock
Westrock Company (NYSE:WRK) Director John A. Luke, Jr. sold 87,202 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $55.06, for a total transaction of $4,801,342.12. Following the transaction, the director now owns 497,557 shares of the company’s stock, valued at approximately $27,395,488.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Westrock Company (NYSE WRK) opened at 55.26 on Wednesday. The company has a 50 day moving average of $57.30 and a 200-day moving average of $54.66. The stock has a market capitalization of $13.86 billion, a P/E ratio of 33.53 and a beta of 1.37. Westrock Company has a one year low of $43.79 and a one year high of $60.36.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.66 billion. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 earnings per share. Equities research analysts predict that Westrock Company will post $2.62 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Friday, August 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Wednesday, August 9th. Westrock’s dividend payout ratio is presently 97.56%.
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Several research analysts recently commented on the stock. BidaskClub upgraded shares of Westrock from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Barclays PLC raised their target price on shares of Westrock from $54.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Jefferies Group LLC restated a “buy” rating and set a $69.00 target price on shares of Westrock in a research note on Friday, August 4th. Zacks Investment Research upgraded shares of Westrock from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a research note on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Westrock has an average rating of “Buy” and an average target price of $61.91.
Several hedge funds and other institutional investors have recently made changes to their positions in WRK. Canada Pension Plan Investment Board raised its position in shares of Westrock by 4.9% in the first quarter. Canada Pension Plan Investment Board now owns 591,484 shares of the basic materials company’s stock worth $30,775,000 after buying an additional 27,862 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Westrock by 0.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 67,045 shares of the basic materials company’s stock worth $3,488,000 after buying an additional 400 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of Westrock by 15.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 21,333 shares of the basic materials company’s stock worth $1,109,000 after buying an additional 2,894 shares in the last quarter. Wetherby Asset Management Inc. raised its position in shares of Westrock by 3.9% in the first quarter. Wetherby Asset Management Inc. now owns 4,435 shares of the basic materials company’s stock worth $231,000 after buying an additional 166 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in shares of Westrock during the first quarter worth $468,000. 88.62% of the stock is currently owned by institutional investors and hedge funds.
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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