Insider Selling: Westrock Company (WRK) Director Sells 10,343 Shares of Stock
Westrock Company (NYSE:WRK) Director John A. Luke, Jr. sold 10,343 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $58.55, for a total value of $605,582.65. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $29,131,962.35. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Westrock Company (WRK) traded down $0.37 during midday trading on Monday, hitting $58.66. The company’s stock had a trading volume of 1,185,700 shares, compared to its average volume of 1,455,555. The stock has a market cap of $14,940.00 and a price-to-earnings ratio of 22.39. Westrock Company has a twelve month low of $47.47 and a twelve month high of $61.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.49 and a quick ratio of 0.89.
Westrock (NYSE:WRK) last released its quarterly earnings data on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.06. The business had revenue of $4.06 billion during the quarter, compared to analyst estimates of $4.13 billion. Westrock had a return on equity of 6.73% and a net margin of 4.77%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. sell-side analysts expect that Westrock Company will post 3.74 earnings per share for the current year.
The business also recently disclosed 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 of this dividend is Thursday, November 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.93%. This is a positive change from Westrock’s previous quarterly dividend of $0.40. Westrock’s dividend payout ratio (DPR) is presently 62.09%.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mckinley Capital Management LLC Delaware purchased a new position in shares of Westrock during the 2nd quarter valued at about $100,000. Sun Life Financial INC increased its stake in shares of Westrock by 26,114.3% in the 2nd quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 1,828 shares in the last quarter. Old Mutual Global Investors UK Ltd. purchased a new position in shares of Westrock in the 3rd quarter valued at about $130,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Westrock by 25.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 509 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of Westrock in the 3rd quarter valued at about $147,000. Institutional investors and hedge funds own 88.80% of the company’s stock.
WRK has been the subject of a number of research reports. Barclays PLC lifted their price target on Westrock from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 18th. BidaskClub cut Westrock from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $69.00 price target on shares of Westrock in a research report on Friday, August 4th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 price target on shares of Westrock in a research report on Monday, September 25th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $65.00 price target (up previously from $61.00) on shares of Westrock in a research report on Monday, October 9th. Five 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. Westrock has a consensus rating of “Buy” and an average price target of $65.09.
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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