Westrock Company (WRK) Position Decreased by Botty Investors LLC
Botty Investors LLC cut its stake in shares of Westrock Company (NYSE:WRK) by 3.9% during the second quarter, Holdings Channel reports. The institutional investor owned 4,195 shares of the basic materials company’s stock after selling 170 shares during the period. Botty Investors LLC’s holdings in Westrock were worth $238,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. FNY Partners Fund LP boosted its stake in Westrock by 700.0% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $104,000 after buying an additional 1,750 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Westrock by 16.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,039 shares of the basic materials company’s stock valued at $106,000 after buying an additional 294 shares in the last quarter. Global X Management Co. LLC boosted its stake in Westrock by 36.9% in the first quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock valued at $167,000 after buying an additional 867 shares in the last quarter. Pennsylvania Trust Co acquired a new stake in Westrock during the second quarter valued at approximately $201,000. Finally, Pacer Advisors Inc. boosted its stake in Westrock by 3.4% in 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 in the last quarter. 89.85% of the stock is owned by institutional investors and hedge funds.
Westrock Company (NYSE:WRK) opened at 56.31 on Wednesday. The stock has a market cap of $14.13 billion, a P/E ratio of 34.17 and a beta of 1.37. Westrock Company has a 52-week low of $43.57 and a 52-week high of $60.36. The firm’s 50-day moving average price is $57.61 and its 200 day moving average price is $54.57.
Westrock (NYSE:WRK) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The company had revenue of $3.70 billion for 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 revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. Equities analysts predict that Westrock Company will post $2.62 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. Westrock’s dividend payout ratio is currently 97.56%.
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WRK has been the subject of several recent analyst reports. TheStreet raised Westrock from a “c+” rating to a “b-” rating in a report on Thursday, May 11th. Goldman Sachs Group, Inc. (The) raised Westrock from a “neutral” rating to a “buy” rating and raised their price objective for the company from $57.00 to $61.00 in a research note on Tuesday, April 18th. Credit Suisse Group reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Westrock in a research note on Thursday, April 27th. Deutsche Bank AG raised their price objective on Westrock from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Finally, Zacks Investment Research raised Westrock from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Westrock has an average rating of “Buy” and an average target price of $61.91.
In other Westrock news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $56.26, for a total value of $581,897.18. Following the transaction, the director now owns 497,557 shares of the company’s stock, valued at $27,992,556.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 51,715 shares of company stock worth $2,986,231 in the last ninety days. 2.68% of the stock is owned by corporate insiders.
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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