Kiwi Wealth Investments Limited Partnership purchased a new position in Westrock Company (NYSE:WRK) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 30,231 shares of the basic materials company’s stock, valued at approximately $1,715,000.
Other large investors also recently modified their holdings of the company. Mckinley Capital Management LLC Delaware acquired a new stake in Westrock during the second quarter valued at approximately $100,000. Sun Life Financial INC lifted its stake in Westrock by 26,114.3% during the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 1,828 shares during the last quarter. Old Mutual Global Investors UK Ltd. acquired a new stake in Westrock during the third quarter valued at approximately $130,000. Northwestern Mutual Wealth Management Co. lifted its stake in Westrock by 25.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 509 shares during the last quarter. Finally, FTB Advisors Inc. lifted its stake in Westrock by 186.2% during the second quarter. FTB Advisors Inc. now owns 3,185 shares of the basic materials company’s stock valued at $180,000 after purchasing an additional 2,072 shares during the last quarter. 88.80% of the stock is owned by institutional investors.
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In other Westrock news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $58.41, for a total value of $1,072,874.88. Following the transaction, the insider now owns 24,859 shares in the company, valued at approximately $1,452,014.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $55.78, for a total transaction of $576,932.54. Following the completion of the transaction, the director now owns 497,557 shares in the company, valued at approximately $27,753,729.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 453,722 shares of company stock valued at $25,585,382. 2.68% of the stock is owned by insiders.
Shares of Westrock Company (NYSE:WRK) traded up $0.10 during trading hours on Thursday, hitting $58.76. 1,281,000 shares of the company traded hands, compared to its average volume of 1,453,854. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57. The stock has a market cap of $14,688.64, a P/E ratio of 22.39, a PEG ratio of 1.35 and a beta of 1.37. Westrock Company has a fifty-two week low of $49.23 and a fifty-two week high of $61.60.
Westrock (NYSE:WRK) last issued its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.06. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.13 billion. Westrock had a net margin of 4.77% and a return on equity of 6.73%. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. sell-side analysts predict that Westrock Company will post 3.74 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, November 10th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from Westrock’s previous quarterly dividend of $0.40. Westrock’s dividend payout ratio is 62.09%.
WRK has been the subject of several recent research reports. Deutsche Bank AG reissued a “buy” rating and set a $65.00 target price (up from $61.00) on shares of Westrock in a research note on Monday, October 9th. Royal Bank Of Canada reissued a “buy” rating and set a $65.00 target price on shares of Westrock in a research note on Monday, September 25th. Jefferies Group LLC reissued a “buy” rating and set a $69.00 target price on shares of Westrock in a research note on Friday, August 4th. DA Davidson reissued a “buy” rating and set a $74.00 target price on shares of Westrock in a research note on Friday, November 3rd. Finally, Stephens initiated coverage on shares of Westrock in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 target price for the company. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $65.09.
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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