Westrock Company (WRK) Position Reduced by Shell Asset Management Co.

Shell Asset Management Co. decreased its stake in Westrock Company (NYSE:WRK) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,589 shares of the basic materials company’s stock after selling 741 shares during the period. Shell Asset Management Co.’s holdings in Westrock were worth $940,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in WRK. Creative Planning raised its stake in Westrock by 1.7% in the first quarter. Creative Planning now owns 11,121 shares of the basic materials company’s stock worth $579,000 after buying an additional 189 shares during the last quarter. Kempner Capital Management Inc. raised its stake in shares of 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. BlackRock Inc. raised its stake in shares of Westrock by 3,569.1% in the first quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock valued at $1,166,413,000 after buying an additional 21,807,090 shares in the last quarter. World Asset Management Inc raised its stake in shares of Westrock by 10.3% in the first quarter. World Asset Management Inc now owns 25,695 shares of the basic materials company’s stock valued at $1,337,000 after buying an additional 2,405 shares in the last quarter. Finally, Ronna Sue Cohen raised its stake in shares of Westrock by 0.3% in the second quarter. Ronna Sue Cohen now owns 4,601 shares of the basic materials company’s stock valued at $261,000 after buying an additional 12 shares in the last quarter. Institutional investors own 89.85% of the company’s stock.

Westrock Company (WRK) traded up 0.39% during mid-day trading on Friday, reaching $56.29. 1,032,994 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $57.61 and a 200-day moving average of $54.62. The firm has a market cap of $14.12 billion, a price-to-earnings 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.

Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the company earned $0.71 EPS. The firm’s revenue was up 2.8% on a year-over-year basis. Analysts anticipate that Westrock Company will post $2.62 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.84%. Westrock’s dividend payout ratio (DPR) is 97.56%.

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WRK has been the subject of several recent research reports. Deutsche Bank AG increased their price objective on Westrock from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Credit Suisse Group restated a “buy” rating and set a $66.00 target price on shares of Westrock in a report on Thursday, April 27th. Royal Bank Of Canada raised their target price on Westrock from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, April 27th. Barclays PLC raised their price target on Westrock from $50.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, May 1st. Finally, TheStreet raised Westrock from a “c+” rating to a “b-” rating in a research report on Thursday, May 11th. 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. The stock currently has an average rating of “Buy” and a consensus price target of $61.91.

In other news, Director John A. Luke, Jr. sold 10,343 shares of the company’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 completion of the sale, the director now owns 497,557 shares of the company’s stock, valued at approximately $29,161,815.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 51,715 shares of company stock valued at $2,986,231 in the last ninety days. 2.68% of the stock is owned by corporate 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.

Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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