Exxonmobil Investment Management Inc. TX Has $2.56 Million Holdings in WestRock Co (WRK)
Exxonmobil Investment Management Inc. TX trimmed its stake in WestRock Co (NYSE:WRK) by 12.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 40,485 shares of the basic materials company’s stock after selling 5,899 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in WestRock were worth $2,559,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Mckinley Capital Management LLC Delaware bought a new stake in WestRock in the second quarter valued at $100,000. Sun Life Financial INC grew its position in WestRock by 26,114.3% in the second quarter. Sun Life Financial INC now owns 1,835 shares of the basic materials company’s stock valued at $104,000 after acquiring an additional 1,828 shares during the period. Invictus RG bought a new stake in WestRock in the third quarter valued at $108,000. Old Mutual Global Investors UK Ltd. bought a new stake in WestRock in the third quarter valued at $130,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in WestRock by 25.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,548 shares of the basic materials company’s stock valued at $144,000 after acquiring an additional 509 shares during the period. Hedge funds and other institutional investors own 87.70% of the company’s stock.
Shares of WestRock Co (NYSE WRK) opened at $69.20 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.89 and a current ratio of 1.49. The company has a market capitalization of $17,630.00 and a price-to-earnings ratio of 24.98. WestRock Co has a 1-year low of $49.23 and a 1-year high of $69.29.
WestRock (NYSE:WRK) last announced its earnings results on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.81 by $0.06. WestRock had a return on equity of 6.73% and a net margin of 4.77%. The company had revenue of $4.06 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the prior year, the business earned $0.71 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. research analysts expect that WestRock Co will post 3.79 EPS for the current fiscal year.
In other news, EVP Jennifer Graham-Johnson sold 7,700 shares of the company’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $59.23, for a total transaction of $456,071.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John A. Luke, Jr. sold 10,343 shares of the company’s stock in a transaction on Monday, October 16th. The shares were sold at an average price of $58.83, for a total value of $608,478.69. Following the transaction, the director now directly owns 497,557 shares in the company, valued at approximately $29,271,278.31. The disclosure for this sale can be found here. Insiders have sold 151,445 shares of company stock worth $9,187,097 in the last ninety days. 2.68% of the stock is currently owned by insiders.
WRK has been the topic of several research analyst reports. Deutsche Bank restated a “buy” rating and set a $65.00 target price (up previously from $61.00) on shares of WestRock in a report on Monday, October 9th. Barclays increased their target price on WestRock from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, November 6th. Stephens set a $72.00 target price on WestRock and gave the stock a “hold” rating in a report on Wednesday. BMO Capital Markets increased their target price on WestRock to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. Finally, DA Davidson restated a “buy” rating and set a $74.00 target price on shares of WestRock in a report on Friday, November 3rd. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $67.09.
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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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