Tokio Marine Asset Management Co. Ltd. cut its stake in shares of Westrock Company (NYSE:WRK) by 22.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,601 shares of the basic materials company’s stock after selling 1,022 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Westrock were worth $204,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in WRK. 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 valued at $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 valued at $11,233,000 after buying an additional 6,040 shares in the last quarter. 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 valued at $579,000 after buying an additional 189 shares in the last quarter. Gulf International Bank UK Ltd increased its position in Westrock by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 79,783 shares of the basic materials company’s stock valued at $4,151,000 after buying an additional 1,000 shares in the last quarter. Finally, Kempner Capital Management Inc. increased its position in Westrock by 13.7% in the first quarter. Kempner Capital Management Inc. now owns 106,310 shares of the basic materials company’s stock valued at $5,531,000 after buying an additional 12,825 shares in the last quarter. Institutional investors own 89.85% of the company’s stock.
Westrock Company (NYSE:WRK) traded up 0.39% on Friday, reaching $56.29. 1,032,994 shares of the company traded hands. The company has a market capitalization of $14.12 billion, a P/E ratio of 34.16 and a beta of 1.37. The company has a 50-day moving average price of $57.61 and a 200-day moving average price of $54.62. Westrock Company has a 12 month low of $43.57 and a 12 month high of $60.36.
Westrock (NYSE:WRK) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.66 billion. Westrock had a net margin of 2.92% and a return on equity of 6.38%. Westrock’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. Equities research analysts expect that Westrock Company will post $2.62 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, August 9th. Westrock’s payout ratio is 97.56%.
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A number of equities research analysts have recently commented on the stock. BidaskClub cut shares of Westrock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Deutsche Bank AG upped their target price on shares of Westrock from $58.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Zacks Investment Research cut shares of Westrock from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. KeyCorp reaffirmed a “hold” rating on shares of Westrock in a report on Thursday, June 29th. Finally, Barclays PLC upped their target price on shares of Westrock from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, three have given 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 target price of $61.91.
In other Westrock news, Director John A. Luke, Jr. sold 10,343 shares of the business’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $59.43, for a total transaction of $614,684.49. Following the completion of the transaction, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $29,569,812.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 51,715 shares of company stock valued at $2,986,231 over the last three months. 2.68% of the stock is currently owned by company insiders.
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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