Has $1.68 Million Position in Westrock Company (NYSE:WRK)

Cornelia Mascio
Agosto 13, 2017

Investec Asset Management Ltd decreased its investment in Westrock Company shares by 8,869 shares in the last quarter.

A number of hedge funds have recently added to or reduced their stakes in the company. As of quarter end Amalgamated Bank had bought a total of 10,407 shares growing its stake by 59.2%. Virtu KCG Holdings LLC now owns 15,317 shares of the basic materials company's stock worth $868,000 after buying an additional 5,572 shares in the last quarter. Ronna Sue Cohen raised its position in shares of Westrock by 0.3% in the second quarter. American Century Companies Inc. now owns 3,265,213 shares of the basic materials company's stock worth $185,007,000 after buying an additional 304,605 shares during the period. TLP Group LLC purchased a new position in shares of Westrock during the second quarter worth $256,000. Northwestern Mutual Wealth Management Co. now owns 2,039 shares of the basic materials company's stock worth $106,000 after buying an additional 294 shares during the period. Dimensional Fund Advisors LP raised its stake in Westrock by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,600,224 shares of the basic materials company's stock valued at $135,296,000 after buying an additional 53,323 shares during the last quarter. The value of the company's investment in Westrock Company increased from $915,000 to $1,586,000 a change of 73.3% quarter to quarter.

Westrock Company (NYSE WRK) traded up 0.69% during trading on Friday, hitting $55.61. Westrock Company has a 12-month low of $43.57 and a 12-month high of $60.36. The firm has a market capitalization of $13.95 billion, a P/E ratio of 33.74 and a beta of 1.37. The company has a 50 day moving average price of $57.65 and a 200 day moving average price of $54.55.

Westrock (NYSE:WRK) last posted its quarterly earnings results on Thursday, August 3rd. The dividend payment will be $0.400 per share for the quarter or $1.60 annualized. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the company earned $0.71 EPS. The company's revenue for the quarter was up 2.8% on a year-over-year basis. The 50 day moving average was down $-2.46 and the 200 day average was up $0.70.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be given a dividend of $0.40 per share. This dividend represents a yeild of $2.85 which is the dividend as a percentage of the current share price. The ex-dividend date of this dividend is Wednesday, August 9th. Westrock's dividend payout ratio is 97.56%.

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WRK has been the subject of a number of other reports. Jefferies Group LLC reaffirmed a "buy" rating and issued a $69.00 price target on shares of Westrock in a research note on Friday, August 4th. Zacks Investment Research raised shares of Westrock from a "hold" rating to a "buy" rating and set a $67.00 target price on the stock in a report on Friday, July 14th. Barclays PLC upped their target price on shares of Westrock from $52.00 to $54.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 18th. KeyCorp reiterated a hold rating on shares of Westrock in a research report on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company now has a consensus rating of Buy and a consensus price target of $61.91.

In related news, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction on Monday, July 24th. The shares were sold at an average price of $57.16, for a total value of $591,205.88. Following 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 SEC, which is available at this link. Corporate insiders own 2.68% of the company's stock.

WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets. The Company's segments include Corrugated Packaging, Consumer Packaging, and Land and Development.

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