Westrock Company (NYSE:WRK) Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $58.61, for a total transaction of $606,203.23. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at $29,161,815.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Shares of Westrock Company (WRK) traded up 0.69% during trading on Friday, reaching $55.61. The company’s stock had a trading volume of 889,522 shares. Westrock Company has a 52 week low of $43.57 and a 52 week high of $60.36. The company has a market cap of $13.95 billion, a PE ratio of 33.74 and a beta of 1.37. The stock’s 50 day moving average price is $57.65 and its 200 day moving average price is $54.55.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.10. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the business posted $0.71 EPS. The business’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts predict that Westrock Company will post $2.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be paid a dividend of $0.40 per share. 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 dividend payout ratio is currently 97.56%.
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Several large investors have recently made changes to their positions in WRK. Evercore Wealth Management LLC boosted its stake in shares of Westrock by 1.1% in the second quarter. Evercore Wealth Management LLC now owns 611,189 shares of the basic materials company’s stock worth $34,630,000 after buying an additional 6,777 shares in the last quarter. Virtu KCG Holdings LLC boosted its stake in shares of Westrock by 57.2% in the second quarter. Virtu KCG Holdings LLC now owns 15,317 shares of the basic materials company’s stock worth $868,000 after buying an additional 5,572 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Westrock during the second quarter worth about $19,438,000. TLP Group LLC bought a new stake in shares of Westrock during the second quarter worth about $256,000. Finally, Parametric Portfolio Associates LLC boosted its stake in shares of Westrock by 31.7% in the second quarter. Parametric Portfolio Associates LLC now owns 734,862 shares of the basic materials company’s stock worth $41,637,000 after buying an additional 177,003 shares in the last quarter. Institutional investors own 89.22% of the company’s stock.
A number of analysts have recently issued reports on the stock. BidaskClub lowered shares of Westrock from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Deutsche Bank AG increased their price objective on Westrock from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Citigroup Inc. restated a “buy” rating on shares of Westrock in a report on Friday, April 14th. Zacks Investment Research downgraded Westrock from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, KeyCorp restated a “hold” rating on shares of Westrock in a report on Thursday, June 29th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $61.91.
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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