Providence Capital Advisors LLC boosted its holdings in Westrock Co (NYSE:WRK) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,116 shares of the basic materials company’s stock after acquiring an additional 1,505 shares during the quarter. Providence Capital Advisors LLC’s holdings in Westrock were worth $1,135,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of WRK. CSat Investment Advisory L.P. lifted its stake in Westrock by 60.0% during the first quarter. CSat Investment Advisory L.P. now owns 795 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 298 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Westrock by 47.6% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,042 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 336 shares during the period. Signaturefd LLC grew its stake in shares of Westrock by 154.1% in the 2nd quarter. Signaturefd LLC now owns 1,080 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 655 shares during the period. SRS Capital Advisors Inc. acquired a new position in shares of Westrock in the 2nd quarter worth approximately $48,000. Finally, Kavar Capital Partners LLC acquired a new position in shares of Westrock in the 2nd quarter worth approximately $60,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.
In other Westrock news, Director John A. Luke, Jr. sold 61,809 shares of Westrock stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.00, for a total value of $2,348,742.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.
Westrock stock traded up $1.22 during trading hours on Wednesday, hitting $39.08. 3,373,905 shares of the stock were exchanged, compared to its average volume of 2,040,070. The stock has a market capitalization of $9.94 billion, a P/E ratio of 9.56, a P/E/G ratio of 2.06 and a beta of 1.62. The business’s 50-day moving average is $34.75 and its two-hundred day moving average is $36.50. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.45. Westrock Co has a 12 month low of $31.94 and a 12 month high of $57.23.
Westrock (NYSE:WRK) last posted its earnings results on Thursday, August 1st. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.09. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Westrock had a net margin of 4.65% and a return on equity of 8.97%. Westrock’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, equities analysts predict that Westrock Co will post 3.86 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 9th were issued a dividend of $0.455 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.82 dividend on an annualized basis and a yield of 4.66%. Westrock’s dividend payout ratio is 44.50%.
Several equities analysts recently commented on WRK shares. UBS Group set a $44.00 target price on Westrock and gave the stock a “buy” rating in a research report on Monday, June 24th. KeyCorp cut Westrock from a “sector weight” rating to an “underweight” rating and set a $32.00 price target on the stock. in a research report on Monday, July 15th. Finally, Zacks Investment Research upgraded Westrock from a “strong sell” rating to a “hold” rating and set a $30.00 price objective for the company in a research note on Thursday, August 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $44.20.
Westrock Company Profile
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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