United Services Automobile Association lowered its position in shares of Westrock Company (NYSE:WRK) by 1.7% during the first quarter, Holdings Channel reports. The institutional investor owned 84,613 shares of the basic materials company’s stock after selling 1,477 shares during the period. United Services Automobile Association’s holdings in Westrock Company were worth $4,402,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in WRK. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Westrock Company by 16.8% in 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 in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Westrock Company by 3.4% in 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 in the last quarter. Commerce Bank acquired a new stake in shares of Westrock Company during the first quarter worth approximately $211,000. TNB Financial acquired a new stake in shares of Westrock Company during the first quarter worth approximately $217,000. Finally, Wetherby Asset Management Inc. boosted its stake in shares of Westrock Company by 3.9% in the first quarter. Wetherby Asset Management Inc. now owns 4,435 shares of the basic materials company’s stock worth $231,000 after buying an additional 166 shares in the last quarter. 88.65% of the stock is owned by institutional investors and hedge funds.
Westrock Company (WRK) traded up 0.23% during trading on Friday, reaching $57.49. 1,540,718 shares of the company traded hands. Westrock Company has a 52 week low of $35.77 and a 52 week high of $57.86. The firm has a 50-day moving average price of $54.62 and a 200-day moving average price of $52.97. The company has a market capitalization of $14.26 billion, a P/E ratio of 79.96 and a beta of 1.37.
Westrock Company (NYSE:WRK) last announced its quarterly earnings results on Wednesday, April 26th. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.07. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Westrock Company had a net margin of 1.29% and a return on equity of 6.35%. The company’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. Analysts forecast that Westrock Company will post $2.51 earnings per share for the current fiscal year.
A number of analysts have commented on the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $62.00 target price on shares of Westrock Company in a report on Thursday. Bank of America Corporation reissued a “buy” rating and issued a $66.00 price objective (up from $65.00) on shares of Westrock Company in a research note on Tuesday, February 21st. TheStreet raised shares of Westrock Company from a “c+” rating to a “b-” rating in a research note on Thursday, May 11th. Royal Bank Of Canada increased their price objective on shares of Westrock Company from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, April 27th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Westrock Company in a research note on Friday, April 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. Westrock Company currently has an average rating of “Buy” and a consensus price target of $60.40.
In other news, Director John A. Luke, Jr. sold 75,000 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $53.83, for a total transaction of $4,037,250.00. Following the transaction, the director now owns 495,435 shares of the company’s stock, valued at approximately $26,669,266.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.68% of the company’s stock.
About Westrock Company
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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