Westrock Company (NYSE:WRK) Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $57.16, for a total value of $591,205.88. Following the completion of the transaction, the director now owns 497,557 shares of the company’s stock, valued at approximately $28,440,358.12. The sale was disclosed in a document filed with the SEC, which is available through this link.
Shares of Westrock Company (NYSE:WRK) traded up 0.39% during midday trading on Friday, hitting $56.29. The stock had a trading volume of 1,032,994 shares. The company has a market cap of $14.12 billion, a price-to-earnings ratio of 34.16 and a beta of 1.37. Westrock Company has a 52 week low of $43.57 and a 52 week high of $60.36. The stock’s 50-day moving average price is $57.61 and its 200 day moving average price is $54.62.
Westrock (NYSE:WRK) last released its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $0.71 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that Westrock Company will post $2.62 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Wednesday, August 9th. Westrock’s dividend payout ratio is currently 97.56%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WRK. Kentucky Retirement Systems bought a new position in Westrock during the fourth quarter worth $925,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Westrock during the fourth quarter worth $413,000. Macquarie Group Ltd. increased its position in Westrock by 93.1% in the fourth quarter. Macquarie Group Ltd. now owns 258,381 shares of the basic materials company’s stock worth $13,118,000 after buying an additional 124,555 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in Westrock by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 215,896 shares of the basic materials company’s stock worth $11,233,000 after buying an additional 6,040 shares in the last quarter. Finally, Creative Planning increased its position in Westrock by 1.7% in the first quarter. Creative Planning now owns 11,121 shares of the basic materials company’s stock worth $579,000 after buying an additional 189 shares in the last quarter. 89.85% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. BidaskClub cut Westrock from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Jefferies Group LLC reiterated a “buy” rating and set a $69.00 price target on shares of Westrock in a report on Friday, August 4th. Barclays PLC lifted their price target on Westrock from $54.00 to $58.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. Goldman Sachs Group, Inc. (The) upgraded Westrock from a “buy” rating to a “conviction-buy” rating in a report on Thursday, July 13th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $62.00 price target on shares of Westrock in a report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.91.
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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