LS Investment Advisors LLC boosted its stake in shares of Westrock Company (NYSE:WRK) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,380 shares of the basic materials company’s stock after buying an additional 406 shares during the period. LS Investment Advisors LLC’s holdings in Westrock were worth $758,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Skylands Capital LLC boosted its stake in Westrock by 35.2% in the first quarter. Skylands Capital LLC now owns 77,900 shares of the basic materials company’s stock valued at $4,053,000 after buying an additional 20,300 shares in the last quarter. Alpha Windward LLC boosted its stake in Westrock by 4,560.0% in the first quarter. Alpha Windward LLC now owns 9,320 shares of the basic materials company’s stock valued at $485,000 after buying an additional 9,120 shares in the last quarter. TNB Financial bought a new stake in Westrock during the first quarter valued at approximately $217,000. Bank of Montreal Can boosted its stake in Westrock by 23.3% in the first quarter. Bank of Montreal Can now owns 702,035 shares of the basic materials company’s stock valued at $36,527,000 after buying an additional 132,593 shares in the last quarter. Finally, First American Bank boosted its stake in Westrock by 0.5% in the first quarter. First American Bank now owns 48,233 shares of the basic materials company’s stock valued at $2,510,000 after buying an additional 228 shares in the last quarter. 89.85% of the stock is owned by institutional investors.
Shares of Westrock Company (NYSE:WRK) traded up 0.39% during midday trading on Friday, reaching $56.29. 1,032,994 shares of the company’s stock traded hands. The stock has a market cap of $14.12 billion, a P/E ratio of 34.16 and a beta of 1.37. Westrock Company has a 12 month low of $43.57 and a 12 month high of $60.36. The stock has a 50 day moving average of $57.61 and a 200-day moving average of $54.60.
Westrock (NYSE:WRK) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the firm earned $0.71 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Westrock Company will post $2.62 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Wednesday, August 9th. Westrock’s dividend payout ratio (DPR) is 97.56%.
Several research firms recently commented on WRK. BidaskClub cut shares of Westrock from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Deutsche Bank AG boosted their price objective on shares of Westrock from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Zacks Investment Research cut shares of Westrock from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. KeyCorp reaffirmed a “hold” rating on shares of Westrock in a research report on Thursday, June 29th. Finally, Barclays PLC boosted their price objective on shares of Westrock from $50.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Westrock currently has a consensus rating of “Buy” and a consensus target price of $61.91.
In other Westrock news, Director John A. Luke, Jr. sold 10,343 shares of the firm’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 transaction, the director now directly owns 497,557 shares of the company’s stock, valued at $29,161,815.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 51,715 shares of company stock worth $2,986,231 over the last ninety days. 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 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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