Westrock Company (WRK) Shares Bought by BlackRock Inc.

BlackRock Inc. increased its stake in Westrock Company (NYSE:WRK) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,598,192 shares of the basic materials company’s stock after purchasing an additional 180,112 shares during the period. BlackRock Inc. owned approximately 9.11% of Westrock worth $1,280,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WRK. AJO LP boosted its stake in Westrock by 13,639.1% in the 2nd quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock worth $157,637,000 after purchasing an additional 2,761,910 shares during the period. AQR Capital Management LLC boosted its stake in Westrock by 450.1% in the 1st quarter. AQR Capital Management LLC now owns 2,486,279 shares of the basic materials company’s stock worth $129,362,000 after purchasing an additional 2,034,341 shares during the period. Bank of Montreal Can boosted its stake in Westrock by 262.9% in the 2nd quarter. Bank of Montreal Can now owns 2,547,693 shares of the basic materials company’s stock worth $144,353,000 after purchasing an additional 1,845,658 shares during the period. Prudential Financial Inc. boosted its stake in Westrock by 327.5% in the 2nd quarter. Prudential Financial Inc. now owns 1,998,206 shares of the basic materials company’s stock worth $113,218,000 after purchasing an additional 1,530,797 shares during the period. Finally, Janus Capital Management LLC boosted its stake in Westrock by 149.8% in the 1st quarter. Janus Capital Management LLC now owns 2,095,551 shares of the basic materials company’s stock worth $109,032,000 after purchasing an additional 1,256,498 shares during the period. 88.63% of the stock is owned by hedge funds and other institutional investors.

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Westrock Company (NYSE:WRK) opened at 57.56 on Friday. Westrock Company has a 1-year low of $43.79 and a 1-year high of $59.02. The stock’s 50 day moving average is $57.61 and its 200-day moving average is $56.04. The firm has a market capitalization of $14.44 billion, a P/E ratio of 34.93 and a beta of 1.37.

Westrock (NYSE:WRK) last issued its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share. Analysts forecast that Westrock Company will post $2.61 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Friday, August 11th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Wednesday, August 9th. Westrock’s dividend payout ratio is currently 97.56%.

A number of equities analysts have recently commented on the stock. BidaskClub downgraded shares of Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC restated a “buy” rating and set a $69.00 price objective on shares of Westrock in a research note on Friday, August 4th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 13th. KeyCorp restated a “hold” rating on shares of Westrock in a research note on Thursday, June 29th. Finally, Zacks Investment Research downgraded shares of Westrock from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $63.44.

In other news, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction dated 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 transaction, the director now directly owns 497,557 shares in the company, valued at $29,161,815.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Luke, Jr. sold 153,718 shares of Westrock stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $55.40, for a total transaction of $8,515,977.20. Following the transaction, the director now owns 543,291 shares of the company’s stock, valued at $30,098,321.40. The disclosure for this sale can be found here. Insiders have sold 422,693 shares of company stock valued at $23,727,055 over the last quarter. Corporate insiders own 2.68% of the company’s stock.

Westrock 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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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