Westrock Company (WRK) Position Decreased by Investec Asset Management Ltd

Xavier Trudeau
Августа 13, 2017

A number of hedge funds have recently added to or reduced their stakes in the company. Cleararc Capital Inc. now owns 6,144 shares of the basic materials company's stock valued at $320,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 89.22% of the company's stock. Ronna Sue Cohen raised its position in shares of Westrock by 0.3% in the second quarter. Parametric Portfolio Associates LLC now owns 734,862 shares of the basic materials company's stock worth $41,637,000 after buying an additional 177,003 shares during the period. Vanguard Group Inc. boosted its stake in Westrock by 1.9% in the second quarter. The value of the company's investment in Westrock Company went from $1,133,000 to $1,321,000 a change of $188,000 quarter to quarter. Global X Management Co. Trust Department MB Financial Bank N A boosted its position in shares of Westrock by 0.4% in the first quarter. LLC now owns 3,217 shares of the basic materials company's stock worth $167,000 after buying an additional 867 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Westrock by 31.7% in the second quarter. Pacer Advisors Inc. now owns 3,924 shares of the basic materials company's stock worth $204,000 after buying an additional 130 shares during the period. Vanguard Group Inc. raised its stake in shares of Westrock by 4.5% in the first quarter.

Westrock Company (NYSE WRK) traded up 0.69% during trading on Friday, hitting $55.61. 889,522 shares of the company's stock traded hands. Westrock has a 1-year low of $43.57 and a 1-year high of $60.36. The company's 50-day moving average price is $57.65 and its 200 day moving average price is $54.55. The stock has a market capitalization of $13.95 billion, a P/E ratio of 33.74 and a beta of 1.37.

Westrock (NYSE:WRK) last released its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, beating the Zacks' consensus estimate of $0.64 by $0.10. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The firm had revenue of $3.70 billion during the quarter, compared to analysts' expectations of $3.66 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The 50 day moving average moved down $-2.46 whereas the 200 day moving average was up $0.70 or +1.29%. Additionally the company announced a dividend for shareholders that will be paid on Monday the 21st of August 2017. The ex-dividend date is set for Wednesday the 9th of August 2017. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. Westrock's payout ratio is now 97.56%.

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Several equities research analysts have recently weighed in on the company. Deutsche Bank AG raised their price target on shares of Westrock from $58.00 to $60.00 and gave the company a buy rating in a report on Tuesday, April 25th. Jefferies Group LLC reaffirmed a "buy" rating and issued a $68.00 target price on shares of Westrock in a report on Friday, July 14th. BidaskClub lowered shares of Westrock from a "hold" rating to a "sell" rating in a research note on Friday. Goldman Sachs Group, Inc. TheStreet raised shares of Westrock from a "c+" rating to a "b-" rating in a report on Thursday, May 11th. Zacks Investment Research raised shares of Westrock from a "hold" rating to a "buy" rating and set a $64.00 price target on the stock in a research report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Westrock presently has a consensus rating of "Buy" and an average target price of $61.91.

In other news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.43, for a total value of $614,684.49. Following the sale, the director now directly owns 497,557 shares of the company's stock, valued at approximately $28,490,113.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The firm owned 483,263 shares of the basic materials company's stock after selling 74 shares during the period.

WestRock Company, incorporated on March 6, 2015, is a multinational provider of paper and packaging solutions for consumer and corrugated packaging markets.

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