Providence Capital Advisors LLC increased its position in shares of Westrock Co (NYSE:WRK) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,116 shares of the basic materials company’s stock after acquiring an additional 1,505 shares during the quarter. Providence Capital Advisors LLC’s holdings in Westrock were worth $1,135,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of WRK. CSat Investment Advisory L.P. lifted its holdings in shares of Westrock by 60.0% in the first quarter. CSat Investment Advisory L.P. now owns 795 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 298 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Westrock by 47.6% during the second quarter. Rockefeller Capital Management L.P. now owns 1,042 shares of the basic materials company’s stock valued at $38,000 after buying an additional 336 shares during the period. Signaturefd LLC raised its position in Westrock by 154.1% during the second quarter. Signaturefd LLC now owns 1,080 shares of the basic materials company’s stock valued at $39,000 after buying an additional 655 shares during the period. SRS Capital Advisors Inc. purchased a new stake in Westrock in the 2nd quarter worth about $48,000. Finally, Kavar Capital Partners LLC purchased a new stake in Westrock in the 2nd quarter worth about $60,000. Institutional investors and hedge funds own 82.44% of the company’s stock.
WRK has been the subject of a number of research reports. KeyCorp lowered Westrock from a “sector weight” rating to an “underweight” rating and set a $32.00 price objective for the company. in a research report on Monday, July 15th. Zacks Investment Research raised shares of 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. Finally, UBS Group set a $44.00 price target on shares of Westrock and gave the stock a “buy” rating in a report on Monday, June 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $44.20.
Shares of WRK traded up $1.22 during midday trading on Wednesday, reaching $39.08. 3,373,905 shares of the stock were exchanged, compared to its average volume of 2,040,070. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 9.56, a P/E/G ratio of 2.06 and a beta of 1.62. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.82. Westrock Co has a 12-month low of $31.94 and a 12-month high of $57.23. The firm has a 50 day simple moving average of $34.75 and a 200-day simple moving average of $36.50.
Westrock (NYSE:WRK) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $1.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.09. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Westrock had a return on equity of 8.97% and a net margin of 4.65%. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 EPS. Research analysts expect that Westrock Co will post 3.86 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th were paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Thursday, August 8th. Westrock’s dividend payout ratio (DPR) is presently 44.50%.
In other Westrock news, Director John A. Luke, Jr. sold 61,809 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $38.00, for a total value of $2,348,742.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.
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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