Retirement Systems of Alabama Buys 1,484 Shares of Westrock Company (WRK)

Retirement Systems of Alabama increased its stake in Westrock Company (NYSE:WRK) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 123,230 shares of the basic materials company’s stock after purchasing an additional 1,484 shares during the quarter. Retirement Systems of Alabama’s holdings in Westrock were worth $6,991,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its position in shares of Westrock by 89.0% in the third quarter. BNP Paribas Arbitrage SA now owns 434,166 shares of the basic materials company’s stock valued at $24,630,000 after purchasing an additional 204,415 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Westrock by 13.6% in the third quarter. Principal Financial Group Inc. now owns 888,090 shares of the basic materials company’s stock valued at $50,382,000 after purchasing an additional 106,362 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Westrock by 3.0% in the third quarter. Oregon Public Employees Retirement Fund now owns 69,056 shares of the basic materials company’s stock valued at $3,918,000 after purchasing an additional 2,011 shares in the last quarter. American Century Companies Inc. grew its position in shares of Westrock by 7.0% in the third quarter. American Century Companies Inc. now owns 3,492,402 shares of the basic materials company’s stock valued at $198,124,000 after purchasing an additional 227,189 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its position in shares of Westrock by 133.3% in the third quarter. State of Tennessee Treasury Department now owns 421,100 shares of the basic materials company’s stock valued at $23,889,000 after purchasing an additional 240,597 shares in the last quarter. Institutional investors own 86.92% of the company’s stock.

WRK has been the subject of several research analyst reports. BidaskClub lowered Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Stephens initiated coverage on Westrock in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $61.00 price objective for the company. KeyCorp reissued a “hold” rating on shares of Westrock in a research note on Wednesday, October 11th. Barclays PLC reissued a “hold” rating on shares of Westrock in a research note on Friday, November 10th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $65.00 price objective on shares of Westrock in a research note on Monday, September 25th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Westrock presently has an average rating of “Buy” and a consensus price target of $65.09.

In other Westrock news, insider Jeffrey Wayne Chalovich sold 18,368 shares of Westrock stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the completion of the sale, the insider now owns 24,859 shares of the company’s stock, valued at $1,452,014.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John A. Luke, Jr. sold 87,202 shares of Westrock stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $55.06, for a total value of $4,801,342.12. Following the sale, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $27,395,488.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 443,379 shares of company stock valued at $25,008,449. Corporate insiders own 2.68% of the company’s stock.

Shares of Westrock Company (NYSE:WRK) opened at $59.50 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.49. Westrock Company has a 52 week low of $49.23 and a 52 week high of $61.60. The stock has a market capitalization of $15,110.00 and a PE ratio of 22.71.

Westrock (NYSE:WRK) last issued its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.06. Westrock had a return on equity of 6.73% and a net margin of 4.77%. The firm had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue was up 12.4% compared to the same quarter last year. sell-side analysts forecast that Westrock Company will post 3.74 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.72 annualized dividend and a yield of 2.89%. This is a positive change from Westrock’s previous quarterly dividend of $0.40. Westrock’s payout ratio is 62.09%.

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Westrock 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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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