National Pension Service boosted its stake in Westrock Co (NYSE:WRK) by 5.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 374,408 shares of the basic materials company’s stock after buying an additional 18,926 shares during the period. National Pension Service owned 0.15% of Westrock worth $13,647,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake in shares of Westrock by 1.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 87,514 shares of the basic materials company’s stock worth $3,190,000 after acquiring an additional 1,485 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Westrock by 5.8% during the third quarter. Parametric Portfolio Associates LLC now owns 1,231,037 shares of the basic materials company’s stock valued at $44,871,000 after acquiring an additional 67,878 shares during the period. California State Teachers Retirement System increased its stake in shares of Westrock by 0.7% during the third quarter. California State Teachers Retirement System now owns 419,966 shares of the basic materials company’s stock valued at $15,308,000 after acquiring an additional 2,890 shares during the period. Pictet Asset Management Ltd. increased its stake in shares of Westrock by 50.1% during the third quarter. Pictet Asset Management Ltd. now owns 2,396,181 shares of the basic materials company’s stock valued at $87,341,000 after acquiring an additional 799,557 shares during the period. Finally, Stifel Financial Corp raised its holdings in Westrock by 5.6% during the third quarter. Stifel Financial Corp now owns 150,638 shares of the basic materials company’s stock worth $5,484,000 after purchasing an additional 7,993 shares in the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.
In related news, Director John A. Luke, Jr. sold 20,603 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $38.68, for a total value of $796,924.04. Also, Director John A. Luke, Jr. sold 188,659 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $40.67, for a total transaction of $7,672,761.53. Following the completion of the transaction, the director now directly owns 689,418 shares of the company’s stock, valued at approximately $28,038,630.06. The disclosure for this sale can be found here. Insiders sold 353,483 shares of company stock worth $14,058,867 in the last ninety days. 2.00% of the stock is owned by corporate insiders.
Shares of WRK opened at $40.40 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 0.83. The firm’s 50 day moving average is $38.74 and its 200-day moving average is $36.38. Westrock Co has a 12-month low of $31.94 and a 12-month high of $48.55. The stock has a market capitalization of $10.40 billion, a P/E ratio of 10.15, a P/E/G ratio of 2.84 and a beta of 1.63.
Westrock (NYSE:WRK) last released its earnings results on Thursday, November 7th. The basic materials company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.84 billion. Westrock had a net margin of 4.72% and a return on equity of 8.81%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.29 earnings per share. As a group, equities research analysts forecast that Westrock Co will post 3.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be given a $0.465 dividend. This is a positive change from Westrock’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.86 annualized dividend and a yield of 4.60%. Westrock’s payout ratio is 46.73%.
A number of equities research analysts have weighed in on the company. ValuEngine downgraded Westrock from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. BNP Paribas initiated coverage on Westrock in a research report on Monday. They set an “outperform” rating and a $48.00 price target on the stock. Citigroup lowered their price target on Westrock from $39.00 to $38.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Exane BNP Paribas started coverage on Westrock in a research note on Monday. They issued an “outperform” rating and a $48.00 price objective on the stock. Finally, Zacks Investment Research lowered Westrock from a “hold” rating to a “sell” rating and set a $39.00 price objective for the company. in a report on Monday, October 14th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $43.70.
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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