Evercore Wealth Management LLC grew its position in Westrock Co (NYSE:WRK) by 13.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 770,229 shares of the basic materials company’s stock after acquiring an additional 90,879 shares during the quarter. Evercore Wealth Management LLC’s holdings in Westrock were worth $28,090,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of WRK. CSat Investment Advisory L.P. increased its holdings in shares of Westrock by 60.0% in the 1st quarter. CSat Investment Advisory L.P. now owns 795 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 298 shares during the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Westrock by 47.6% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,042 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 336 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Westrock by 154.1% in the 2nd quarter. Signaturefd LLC now owns 1,080 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 655 shares during the last quarter. SRS Capital Advisors Inc. bought a new stake in shares of Westrock in the 2nd quarter valued at approximately $48,000. Finally, Kavar Capital Partners LLC bought a new stake in shares of Westrock in the 2nd quarter valued at approximately $60,000. Institutional investors and hedge funds own 82.44% of the company’s stock.
In related news, Director John A. Luke, Jr. sold 61,809 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $38.00, for a total transaction of $2,348,742.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.
A number of brokerages have recently weighed in on WRK. KeyCorp downgraded Westrock from a “sector weight” rating to an “underweight” rating and set a $32.00 price target for the company. in a report on Monday, July 15th. UBS Group set a $44.00 price target on Westrock and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Zacks Investment Research upgraded Westrock from a “strong sell” rating to a “hold” rating and set a $30.00 price objective for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Westrock presently has an average rating of “Hold” and a consensus price target of $44.20.
NYSE:WRK opened at $39.09 on Friday. Westrock Co has a 12-month low of $31.94 and a 12-month high of $57.23. The firm has a market capitalization of $9.88 billion, a P/E ratio of 9.56, a P/E/G ratio of 2.20 and a beta of 1.62. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.45 and a quick ratio of 0.87. The business has a 50 day simple moving average of $34.85 and a 200 day simple moving average of $36.50.
Westrock (NYSE:WRK) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.09. Westrock had a return on equity of 8.97% and a net margin of 4.65%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. Research analysts anticipate that Westrock Co will post 3.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 9th were given a dividend of $0.455 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.82 dividend on an annualized basis and a yield of 4.66%. Westrock’s dividend payout ratio is currently 44.50%.
Westrock Company Profile
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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