WestRock Co. (WRK) Shares Sold by Retirement Systems of Alabama
Retirement Systems of Alabama decreased its position in shares of WestRock Co. (NYSE:WRK) by 45.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,782 shares of the company’s stock after selling 105,386 shares during the period. Retirement Systems of Alabama’s holdings in WestRock were worth $5,006,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Botty Investors LLC bought a new stake in WestRock during the second quarter worth $137,000. Advisor Partners LLC acquired a new position in shares of WestRock during the first quarter valued at approximately $203,000. Rehmann Capital Advisory Group acquired a new position in shares of WestRock during the second quarter valued at approximately $227,000. Westend Capital Management LLC acquired a new position in shares of WestRock during the first quarter valued at approximately $248,000. Finally, Maryland Capital Management increased its position in shares of WestRock by 2.1% in the first quarter. Maryland Capital Management now owns 8,725 shares of the company’s stock valued at $341,000 after buying an additional 177 shares during the last quarter. 90.32% of the stock is currently owned by institutional investors.
Shares of WestRock Co. (NYSE:WRK) traded up 3.68% during mid-day trading on Friday, hitting $46.71. 1,191,366 shares of the company’s stock traded hands. The firm has a 50-day moving average of $47.50 and a 200 day moving average of $42.29. The company’s market cap is $11.62 billion. WestRock Co. has a 52 week low of $29.73 and a 52 week high of $55.73.
WestRock (NYSE:WRK) last announced its earnings results on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. WestRock had a negative net margin of 1.27% and a positive return on equity of 6.71%. The business earned $3.60 million during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the firm earned $1.15 earnings per share. WestRock’s quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts predict that WestRock Co. will post $3.96 EPS for the current year.
Several brokerages have recently commented on WRK. Deutsche Bank AG set a $50.00 target price on WestRock and gave the stock a “buy” rating in a report on Friday, August 5th. BMO Capital Markets reissued a “buy” rating and issued a $52.00 target price on shares of WestRock in a report on Friday, August 5th. Bank of America Corp. reissued a “hold” rating and issued a $45.00 target price on shares of WestRock in a report on Friday, August 5th. Jefferies Group reissued a “buy” rating on shares of WestRock in a report on Monday, August 22nd. Finally, Credit Suisse Group AG set a $50.00 target price on WestRock and gave the stock a “buy” rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $53.04.
In related news, Director John A. Luke, Jr. sold 188,103 shares of WestRock stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $46.62, for a total transaction of $8,769,361.86. Following the completion of the transaction, the director now owns 837,343 shares of the company’s stock, valued at $39,036,930.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.41% of the company’s stock.
Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.
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