Westrock Company (NYSE:WRK) Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $60.70, for a total transaction of $627,820.10. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $30,201,709.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of Westrock Company (NYSE WRK) traded up 1.28% during midday trading on Tuesday, hitting $61.09. 812,308 shares of the company’s stock were exchanged. The firm has a market cap of $15.32 billion, a PE ratio of 37.07 and a beta of 1.36. The stock’s 50-day moving average price is $58.39 and its 200 day moving average price is $56.55. Westrock Company has a one year low of $43.79 and a one year high of $61.50.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The business had revenue of $3.70 billion for 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%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 EPS. Equities research analysts forecast that Westrock Company will post $2.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, November 10th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Thursday, November 9th. This is an increase from Westrock’s previous quarterly dividend of $0.40. Westrock’s dividend payout ratio is 97.56%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Mckinley Capital Management LLC Delaware acquired a new stake in Westrock in the second quarter valued at approximately $100,000. FNY Partners Fund LP grew its position in shares of Westrock by 700.0% during the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock worth $104,000 after buying an additional 1,750 shares in the last quarter. Sun Life Financial INC grew its position in shares of Westrock by 26,114.3% during the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock worth $104,000 after buying an additional 1,828 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Westrock by 25.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock worth $144,000 after buying an additional 509 shares in the last quarter. Finally, FTB Advisors Inc. grew its position in shares of Westrock by 186.2% during the second quarter. FTB Advisors Inc. now owns 3,185 shares of the basic materials company’s stock worth $180,000 after buying an additional 2,072 shares in the last quarter. 88.79% of the stock is owned by hedge funds and other institutional investors.
WRK has been the topic of a number of research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $65.00 price objective (up previously from $61.00) on shares of Westrock in a research note on Monday, October 9th. BidaskClub downgraded shares of Westrock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) raised shares of Westrock from a “buy” rating to a “conviction-buy” rating in a report on Thursday, July 13th. Jefferies Group LLC reaffirmed a “buy” rating and set a $69.00 price objective on shares of Westrock in a report on Friday, August 4th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 price objective on shares of Westrock in a report on Monday, September 25th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $64.00.
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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