Westrock Company (WRK) Stake Raised by Trexquant Investment LP
Trexquant Investment LP increased its stake in Westrock Company (NYSE:WRK) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,400 shares of the basic materials company’s stock after buying an additional 800 shares during the period. Trexquant Investment LP’s holdings in Westrock were worth $703,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in WRK. Mn Services Vermogensbeheer B.V. raised its position in shares of Westrock by 3.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,697 shares of the basic materials company’s stock valued at $326,000 after buying an additional 208 shares during the last quarter. Retirement Systems of Alabama increased its stake in Westrock by 1.7% in the first quarter. Retirement Systems of Alabama now owns 121,041 shares of the basic materials company’s stock worth $6,298,000 after buying an additional 2,024 shares during the period. State of Alaska Department of Revenue acquired a new stake in Westrock during the first quarter worth about $649,000. Moody National Bank Trust Division increased its stake in Westrock by 1.9% in the first quarter. Moody National Bank Trust Division now owns 15,370 shares of the basic materials company’s stock worth $800,000 after buying an additional 292 shares during the period. Finally, Trust Department MB Financial Bank N A increased its stake in Westrock by 0.4% in the first quarter. Trust Department MB Financial Bank N A now owns 7,831 shares of the basic materials company’s stock worth $407,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 89.22% of the company’s stock.
Shares of Westrock Company (NYSE:WRK) opened at 55.61 on Friday. The firm has a 50-day moving average of $57.65 and a 200 day moving average of $54.55. The firm has a market cap of $14.20 billion, a P/E ratio of 33.74 and a beta of 1.37. Westrock Company has a 12 month low of $43.57 and a 12 month high of $60.36.
Westrock (NYSE:WRK) last issued its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.10. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period last year, the business earned $0.71 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Westrock Company will post $2.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Friday, August 11th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Wednesday, August 9th. Westrock’s payout ratio is 97.56%.
A number of analysts recently issued reports on the stock. BidaskClub downgraded shares of Westrock from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Deutsche Bank AG increased their target price on shares of Westrock from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, April 25th. Citigroup Inc. reissued a “buy” rating on shares of Westrock in a research report on Friday, April 14th. Zacks Investment Research downgraded shares of Westrock from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, KeyCorp reissued a “hold” rating on shares of Westrock in a research report on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $61.91.
In related news, Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $58.61, for a total value of $606,203.23. Following the transaction, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $29,161,815.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 41,372 shares of company stock worth $2,404,334 over the last three months. 2.68% of the stock is owned by company insiders.
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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