Pflug Koory LLC grew its position in shares of Westrock Co (NYSE:WRK) by 51.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,349 shares of the basic materials company’s stock after acquiring an additional 1,480 shares during the quarter. Pflug Koory LLC’s holdings in Westrock were worth $159,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CSat Investment Advisory L.P. boosted its position in shares of Westrock by 60.0% during the 1st quarter. CSat Investment Advisory L.P. now owns 795 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 298 shares during the last quarter. Huntington National Bank lifted its position in Westrock by 1,921.2% in the first quarter. Huntington National Bank now owns 1,051 shares of the basic materials company’s stock worth $40,000 after buying an additional 999 shares during the last quarter. Signaturefd LLC lifted its position in Westrock by 154.1% in the second quarter. Signaturefd LLC now owns 1,080 shares of the basic materials company’s stock worth $39,000 after buying an additional 655 shares during the last quarter. Kavar Capital Partners LLC bought a new stake in Westrock in the second quarter worth $60,000. Finally, Proffitt & Goodson Inc. bought a new stake in Westrock in the first quarter worth $85,000. Hedge funds and other institutional investors own 82.77% of the company’s stock.
WRK traded up $0.77 during trading on Friday, reaching $33.37. The company had a trading volume of 129,051 shares, compared to its average volume of 2,188,963. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.82. The business has a 50 day simple moving average of $36.22 and a 200-day simple moving average of $37.09. Westrock Co has a 52 week low of $32.01 and a 52 week high of $57.23. The stock has a market cap of $8.91 billion, a P/E ratio of 8.14, a PEG ratio of 1.97 and a beta of 1.61.
Westrock (NYSE:WRK) last released its earnings results on Thursday, August 1st. The basic materials company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.09. Westrock had a return on equity of 8.97% and a net margin of 4.65%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.83 billion. During the same quarter last year, the firm posted $1.09 earnings per share. The business’s revenue was up 16.3% compared to the same quarter last year. As a group, equities research analysts expect that Westrock Co will post 3.92 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th will be paid a $0.455 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.82 dividend on an annualized basis and a yield of 5.45%. Westrock’s payout ratio is 44.50%.
In other Westrock news, Director John A. Luke, Jr. sold 61,809 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.00, for a total value of $2,348,742.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.
A number of brokerages recently issued reports on WRK. Zacks Investment Research upgraded Westrock from a “strong sell” rating to a “hold” rating and set a $30.00 price target for the company in a research report on Thursday, August 8th. UBS Group set a $44.00 price target on Westrock and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, KeyCorp downgraded Westrock from a “sector weight” rating to an “underweight” rating and set a $32.00 price target for the company. in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $44.20.
Westrock Company Profile
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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