Zurcher Kantonalbank Zurich Cantonalbank Acquires 38,626 Shares of Westrock Company (WRK)
Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Westrock Company (NYSE:WRK) by 20.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 227,288 shares of the basic materials company’s stock after buying an additional 38,626 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.09% of Westrock worth $12,894,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. AJO LP increased its stake in Westrock by 13,639.1% in the second quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock valued at $157,637,000 after purchasing an additional 2,761,910 shares in the last quarter. Prudential Financial Inc. increased its stake in Westrock by 327.5% in the second quarter. Prudential Financial Inc. now owns 1,998,206 shares of the basic materials company’s stock valued at $113,218,000 after purchasing an additional 1,530,797 shares in the last quarter. Janus Henderson Group PLC increased its stake in Westrock by 2,916.4% in the second quarter. Janus Henderson Group PLC now owns 1,024,046 shares of the basic materials company’s stock valued at $58,023,000 after purchasing an additional 990,097 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Westrock by 1,801.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 962,436 shares of the basic materials company’s stock valued at $37,410,000 after purchasing an additional 911,819 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Westrock by 1.9% in the second quarter. Vanguard Group Inc. now owns 26,211,606 shares of the basic materials company’s stock valued at $1,485,150,000 after purchasing an additional 484,771 shares in the last quarter. 86.92% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have commented on the stock. Barclays PLC reaffirmed a “hold” rating on shares of Westrock in a research note on Friday, November 10th. Zacks Investment Research downgraded shares of Westrock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 7th. DA Davidson reaffirmed a “buy” rating and issued a $74.00 target price on shares of Westrock in a research note on Friday, November 3rd. Stephens assumed coverage on shares of Westrock in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $61.00 target price for the company. Finally, KeyCorp reaffirmed a “hold” rating on shares of Westrock in a research note on Wednesday, October 11th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.09.
Shares of Westrock Company (NYSE WRK) traded up $0.13 during mid-day trading on Friday, hitting $58.79. 850,900 shares of the stock traded hands, compared to its average volume of 1,449,407. 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 52 week low of $49.23 and a 52 week high of $61.60. The company has a market capitalization of $14,968.78, a P/E ratio of 22.44, a price-to-earnings-growth ratio of 1.36 and a beta of 1.37.
Westrock (NYSE:WRK) last issued its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.06. Westrock had a net margin of 4.77% and a return on equity of 6.73%. The company had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The firm’s revenue was up 12.4% compared to the same quarter last year. sell-side analysts predict that Westrock Company will post 3.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Friday, November 10th were given a dividend of $0.43 per share. This is an increase from Westrock’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $1.72 annualized dividend and a dividend yield of 2.93%. Westrock’s dividend payout ratio is currently 62.09%.
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In other news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the completion of the sale, the insider now owns 24,859 shares of the company’s stock, valued at $1,452,014.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jennifer Graham-Johnson sold 3,806 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $57.08, for a total transaction of $217,246.48. Following the sale, the executive vice president now directly owns 41,588 shares of the company’s stock, valued at approximately $2,373,843.04. The disclosure for this sale can be found here. Insiders have sold 453,722 shares of company stock valued at $25,616,721 in the last three months. 2.68% of the stock is owned by 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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