Rothschild Asset Management Inc. cut its holdings in Westrock Company (NYSE:WRK) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,143,110 shares of the basic materials company’s stock after selling 24,548 shares during the period. Westrock comprises about 0.7% of Rothschild Asset Management Inc.’s holdings, making the stock its 26th largest position. Rothschild Asset Management Inc. owned 0.46% of Westrock worth $64,849,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Systematic Financial Management LP raised its stake in Westrock by 171.2% in the third quarter. Systematic Financial Management LP now owns 767,613 shares of the basic materials company’s stock valued at $43,547,000 after buying an additional 484,539 shares in the last quarter. Edge Advisors LLC raised its stake in Westrock by 25.8% in the third quarter. Edge Advisors LLC now owns 28,801 shares of the basic materials company’s stock valued at $1,633,000 after buying an additional 5,914 shares in the last quarter. Chartwell Investment Partners LLC acquired a new stake in Westrock in the third quarter valued at $5,867,000. Stephens Inc. AR acquired a new stake in Westrock in the third quarter valued at $442,000. Finally, Cipher Capital LP raised its stake in Westrock by 1,127.3% in the third quarter. Cipher Capital LP now owns 85,681 shares of the basic materials company’s stock valued at $4,861,000 after buying an additional 78,700 shares in the last quarter. Institutional investors own 86.92% of the company’s stock.
In related news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the transaction, the insider now owns 24,859 shares of the company’s stock, valued at $1,452,014.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John A. Luke, Jr. sold 153,718 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $55.40, for a total value of $8,515,977.20. Following the transaction, the director now directly owns 543,291 shares in the company, valued at approximately $30,098,321.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 443,379 shares of company stock worth $25,008,449. Corporate insiders own 2.68% of the company’s stock.
WRK has been the topic of a number of analyst reports. Zacks Investment Research cut Westrock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 7th. BidaskClub cut Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Stephens initiated coverage on Westrock in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $61.00 price target on the stock. Deutsche Bank AG restated a “buy” rating and issued a $65.00 price target (up from $61.00) on shares of Westrock in a research note on Monday, October 9th. Finally, Barclays PLC raised their price target on Westrock from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Monday, November 6th. 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 currently has an average rating of “Buy” and a consensus target price of $65.09.
Shares of Westrock Company (NYSE WRK) traded up $0.35 during mid-day trading on Monday, hitting $59.50. The company’s stock had a trading volume of 1,192,500 shares, compared to its average volume of 1,453,238. The stock has a market capitalization of $15,110.00 and a price-to-earnings ratio of 22.71. Westrock Company has a 12 month low of $49.23 and a 12 month high of $61.60. 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 (NYSE:WRK) last issued its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.06. The company had revenue of $4.06 billion for the quarter, compared to analyst estimates of $4.13 billion. Westrock had a return on equity of 6.73% and a net margin of 4.77%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.71 earnings per share. research analysts forecast that Westrock Company will post 3.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.43 per share. This is a positive change from Westrock’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, November 9th. This represents a $1.72 annualized dividend and a dividend yield of 2.89%. Westrock’s dividend payout ratio (DPR) is presently 62.09%.
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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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