Raymond James Trust N.A. increased its stake in Westrock Company (NYSE:WRK) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,706 shares of the basic materials company’s stock after acquiring an additional 289 shares during the quarter. Raymond James Trust N.A.’s holdings in Westrock were worth $607,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in WRK. BlackRock Inc. increased its stake in shares of Westrock by 3,569.1% in the 1st quarter. BlackRock Inc. now owns 22,418,080 shares of the basic materials company’s stock valued at $1,166,413,000 after acquiring an additional 21,807,090 shares in the last quarter. AJO LP increased its stake in shares of Westrock by 13,639.1% in the 2nd quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock valued at $157,637,000 after acquiring an additional 2,761,910 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Westrock by 450.1% in the 1st quarter. AQR Capital Management LLC now owns 2,486,279 shares of the basic materials company’s stock valued at $129,362,000 after acquiring an additional 2,034,341 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Westrock by 262.9% in the 2nd quarter. Bank of Montreal Can now owns 2,547,693 shares of the basic materials company’s stock valued at $144,353,000 after acquiring an additional 1,845,658 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Westrock by 327.5% in the 2nd quarter. Prudential Financial Inc. now owns 1,998,206 shares of the basic materials company’s stock valued at $113,218,000 after acquiring an additional 1,530,797 shares in the last quarter. Institutional investors own 88.63% of the company’s stock.

WRK has been the subject of several research analyst reports. BidaskClub lowered shares of Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $69.00 price objective on shares of Westrock in a research note on Friday, August 4th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 13th. KeyCorp restated a “hold” rating on shares of Westrock in a research note on Thursday, June 29th. Finally, Zacks Investment Research lowered shares of Westrock from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Three equities research 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 company. The company has a consensus rating of “Buy” and an average price target of $63.44.

In other news, Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $58.61, for a total transaction of $606,203.23. Following the completion of the transaction, the director now directly owns 497,557 shares in the company, valued at $29,161,815.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Luke, Jr. sold 87,202 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $55.06, for a total value of $4,801,342.12. Following the transaction, the director now owns 497,557 shares of the company’s stock, valued at $27,395,488.42. The disclosure for this sale can be found here. Insiders have sold 422,693 shares of company stock valued at $23,727,055 in the last three months. Insiders own 2.68% of the company’s stock.

Shares of Westrock Company (NYSE:WRK) opened at 57.40 on Friday. Westrock Company has a 1-year low of $43.79 and a 1-year high of $59.02. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 34.83 and a beta of 1.37. The stock has a 50 day moving average of $57.62 and a 200 day moving average of $55.62.

Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.64 by $0.10. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.66 billion. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 earnings per share. On average, equities analysts forecast that Westrock Company will post $2.61 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 11th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Wednesday, August 9th. Westrock’s dividend payout ratio is currently 97.56%.

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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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