BB&T Securities LLC boosted its holdings in WestRock Co (NYSE:WRK) by 9.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,557 shares of the basic materials company’s stock after purchasing an additional 2,388 shares during the quarter. BB&T Securities LLC’s holdings in WestRock were worth $1,563,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new stake in WestRock in the 2nd quarter valued at $100,000. Sun Life Financial INC increased its stake in WestRock by 26,114.3% in the 2nd quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after buying an additional 1,828 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in WestRock in the 3rd quarter valued at $130,000. Northwestern Mutual Wealth Management Co. increased its stake in WestRock by 25.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after buying an additional 509 shares during the period. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in WestRock in the 3rd quarter valued at $147,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.
In related news, EVP Jennifer Graham-Johnson sold 3,806 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $57.08, for a total value of $217,246.48. Following the sale, the executive vice president now directly owns 41,588 shares in the company, valued at approximately $2,373,843.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert A. Feeser sold 29,972 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $60.00, for a total transaction of $1,798,320.00. The disclosure for this sale can be found here. Insiders sold a total of 183,962 shares of company stock worth $10,843,671 over the last quarter. Insiders own 2.68% of the company’s stock.
WestRock Co (WRK) traded down $0.01 during trading hours on Thursday, hitting $63.41. 618,374 shares of the stock were exchanged, compared to its average volume of 1,448,268. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.49. WestRock Co has a fifty-two week low of $49.23 and a fifty-two week high of $63.63. The firm has a market cap of $16,119.64, a PE ratio of 24.16, a PEG ratio of 1.46 and a beta of 1.37.
WestRock (NYSE:WRK) last posted its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the company posted $0.71 EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. analysts forecast that WestRock Co will post 3.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were given a $0.43 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This is a positive change from WestRock’s previous quarterly dividend of $0.40. This represents a $1.72 annualized dividend and a dividend yield of 2.71%. WestRock’s payout ratio is currently 62.09%.
Several brokerages have issued reports on WRK. BidaskClub cut shares of WestRock from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Royal Bank Of Canada reissued a “buy” rating and issued a $65.00 price objective on shares of WestRock in a research note on Monday, September 25th. KeyCorp reissued a “hold” rating on shares of WestRock in a research note on Wednesday, October 11th. DA Davidson reissued a “buy” rating and issued a $74.00 price objective on shares of WestRock in a research note on Friday, November 3rd. Finally, Deutsche Bank reissued a “buy” rating and issued a $65.00 price objective (up from $61.00) on shares of WestRock in a research note on Monday, October 9th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.09.
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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