Quantum Capital Management Takes Position in Westrock Company (WRK)
Quantum Capital Management bought a new position in shares of Westrock Company (NYSE:WRK) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,691 shares of the basic materials company’s stock, valued at approximately $662,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. FNY Partners Fund LP boosted its holdings in 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 during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Westrock by 16.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,039 shares of the basic materials company’s stock worth $106,000 after buying an additional 294 shares during the last quarter. Global X Management Co. LLC boosted its holdings in Westrock by 36.9% during the first quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock worth $167,000 after buying an additional 867 shares during the last quarter. Pennsylvania Trust Co bought a new position in Westrock during the second quarter worth about $201,000. Finally, Pacer Advisors Inc. boosted its holdings in Westrock by 3.4% during the first 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 last quarter. Hedge funds and other institutional investors own 88.57% of the company’s stock.
Westrock Company (NYSE:WRK) traded down 0.21% during trading on Thursday, hitting $58.13. The stock had a trading volume of 288,431 shares. The firm has a market capitalization of $14.58 billion, a P/E ratio of 35.27 and a beta of 1.37. The stock has a 50 day moving average of $57.59 and a 200 day moving average of $57.59. Westrock Company has a one year low of $43.79 and a one year high of $59.02.
Westrock (NYSE:WRK) last released its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, topping the 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 business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the firm posted $0.71 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. Equities research analysts expect that Westrock Company will post $2.61 earnings per share for the current fiscal year.
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In other Westrock news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $58.41, for a total value of $1,072,874.88. Following the transaction, the insider now owns 24,859 shares in the company, valued at $1,452,014.19. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Luke, Jr. sold 87,202 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 497,557 shares in the company, valued at approximately $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 ninety days. 2.68% of the stock is currently owned by insiders.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Westrock from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, June 27th. Jefferies Group LLC restated a “buy” rating and set a $65.00 target price on shares of Westrock in a report on Thursday, June 22nd. Barclays PLC raised their target price on Westrock from $54.00 to $58.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. BMO Capital Markets restated a “buy” rating and set a $62.00 target price on shares of Westrock in a report on Thursday, June 15th. Finally, BidaskClub upgraded Westrock from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $63.44.
Westrock Company 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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