Thrivent Financial For Lutherans grew its holdings in shares of Westrock Company (NYSE:WRK) by 48.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,328,089 shares of the basic materials company’s stock after acquiring an additional 434,790 shares during the period. Thrivent Financial For Lutherans owned about 0.54% of Westrock worth $75,250,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in WRK. BlackRock Inc. raised its stake in shares of Westrock by 3,569.1% during the first quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock valued at $1,166,413,000 after acquiring an additional 21,807,090 shares during the last quarter. AJO LP raised its stake in shares of Westrock by 13,639.1% during the second quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock valued at $157,637,000 after acquiring an additional 2,761,910 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Westrock by 450.1% during the first quarter. AQR Capital Management LLC now owns 2,486,279 shares of the basic materials company’s stock valued at $129,362,000 after acquiring an additional 2,034,341 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Westrock by 262.9% during the second quarter. Bank of Montreal Can now owns 2,547,693 shares of the basic materials company’s stock valued at $144,353,000 after acquiring an additional 1,845,658 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Westrock by 327.5% during the second quarter. Prudential Financial Inc. now owns 1,998,206 shares of the basic materials company’s stock valued at $113,218,000 after acquiring an additional 1,530,797 shares during the last quarter. 88.63% of the stock is owned by hedge funds and other institutional investors.
In other Westrock news, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $58.61, for a total value of $606,203.23. Following the completion of the transaction, the director now directly owns 497,557 shares in the company, valued at approximately $29,161,815.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John A. Luke, Jr. sold 87,202 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $55.06, for a total transaction of $4,801,342.12. Following the completion of the transaction, the director now owns 497,557 shares of the company’s stock, valued at $27,395,488.42. The disclosure for this sale can be found here. Insiders sold a total of 422,693 shares of company stock valued at $23,727,055 over the last 90 days. Company insiders own 2.68% of the company’s stock.
Several equities analysts have recently issued reports on WRK shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $68.00 price target on shares of Westrock in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of Westrock from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Friday, July 14th. Barclays PLC increased their price objective on shares of Westrock from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 18th. BidaskClub cut shares of Westrock from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, July 13th. Three investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Westrock presently has a consensus rating of “Buy” and an average price target of $63.44.
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Westrock Company (NYSE WRK) traded up 0.24% during midday trading on Friday, reaching $57.56. 1,932,835 shares of the company’s stock were exchanged. The company has a market cap of $14.44 billion, a price-to-earnings ratio of 34.93 and a beta of 1.37. Westrock Company has a 12-month low of $43.79 and a 12-month high of $59.02. The firm has a 50-day moving average price of $57.61 and a 200 day moving average price of $56.04.
Westrock (NYSE:WRK) last issued its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the business earned $0.71 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, analysts expect that Westrock Company will post $2.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 11th were issued a $0.40 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.60 annualized dividend and a yield of 2.78%. Westrock’s dividend payout ratio (DPR) is presently 97.56%.
Westrock Company 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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