Oakbrook Investments LLC Reduces Position in Westrock Company (WRK)

Oakbrook Investments LLC decreased its position in Westrock Company (NYSE:WRK) by 45.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 11,370 shares of the basic materials company’s stock after selling 9,470 shares during the period. Oakbrook Investments LLC’s holdings in Westrock were worth $644,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Creative Planning raised its stake in shares of Westrock by 1.7% in the first quarter. Creative Planning now owns 11,121 shares of the basic materials company’s stock worth $579,000 after buying an additional 189 shares during the last quarter. Kempner Capital Management Inc. raised its stake in shares of Westrock by 13.7% in the first quarter. Kempner Capital Management Inc. now owns 106,310 shares of the basic materials company’s stock worth $5,531,000 after buying an additional 12,825 shares during the last quarter. BlackRock Inc. raised its stake in shares of Westrock by 3,569.1% in the first quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock worth $1,166,413,000 after buying an additional 21,807,090 shares during the last quarter. World Asset Management Inc raised its stake in shares of Westrock by 10.3% in the first quarter. World Asset Management Inc now owns 25,695 shares of the basic materials company’s stock valued at $1,337,000 after buying an additional 2,405 shares in the last quarter. Finally, Alambic Investment Management L.P. purchased a new stake in shares of Westrock during the first quarter valued at $282,000. 89.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of Westrock Company (NYSE WRK) traded up 0.69% during trading on Friday, hitting $55.61. The stock had a trading volume of 889,522 shares. Westrock Company has a one year low of $43.57 and a one year high of $60.36. The stock has a market cap of $13.95 billion, a price-to-earnings 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 posted its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.66 billion. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. On average, equities analysts forecast that Westrock Company will post $2.62 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend 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%.

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Several analysts recently weighed in on WRK shares. Jefferies Group LLC reissued a “buy” rating and issued a $68.00 price objective on shares of Westrock in a report on Friday, July 14th. Zacks Investment Research raised Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Friday, July 14th. Barclays PLC boosted their price objective on Westrock from $52.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, July 18th. TheStreet raised Westrock from a “c+” rating to a “b-” rating in a report on Thursday, May 11th. Finally, BidaskClub lowered Westrock from a “hold” rating to a “sell” rating in a report on Friday. Two equities 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 assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $61.91.

In other 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 shares were 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 owns 497,557 shares of the company’s stock, valued at $29,161,815.77. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 41,372 shares of company stock valued at $2,404,334. Company insiders own 2.68% of the company’s stock.

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.

Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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