First American Bank raised its stake in shares of Westrock Company (NYSE:WRK) by 26.4% during the second quarter, Holdings Channel reports. The institutional investor owned 60,950 shares of the basic materials company’s stock after buying an additional 12,717 shares during the period. First American Bank’s holdings in Westrock Company were worth $3,454,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. FNY Partners Fund LP boosted its stake in shares of Westrock Company by 700.0% in the first quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company’s stock valued at $104,000 after buying an additional 1,750 shares in the last quarter. 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 valued at $106,000 after buying an additional 294 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Westrock Company by 36.9% in the first quarter. Global X Management Co. LLC now owns 3,217 shares of the basic materials company’s stock valued at $167,000 after buying an additional 867 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 valued at $204,000 after buying an additional 130 shares in the last quarter. Finally, Commerce Bank acquired a new stake in shares of Westrock Company during the first quarter valued at about $211,000. 88.67% of the stock is owned by institutional investors.
Westrock Company (NYSE WRK) traded up 2.09% during trading on Monday, reaching $58.51. 893,510 shares of the company’s stock traded hands. Westrock Company has a 1-year low of $37.71 and a 1-year high of $58.62. The firm has a market capitalization of $14.51 billion, a PE ratio of 81.38 and a beta of 1.37. The firm has a 50 day moving average of $55.37 and a 200 day moving average of $53.31.
Westrock Company (NYSE:WRK) last released its earnings results on Wednesday, April 26th. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.07. Westrock Company had a net margin of 1.29% and a return on equity of 6.35%. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the firm earned $0.61 earnings per share. Westrock Company’s revenue was up 4.7% compared to the same quarter last year. Equities analysts forecast that Westrock Company will post $2.53 EPS for the current year.
Several analysts recently issued reports on WRK shares. TheStreet raised shares of Westrock Company from a “c+” rating to a “b-” rating in a research note on Thursday, May 11th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock Company from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $61.00 in a report on Tuesday, April 18th. Citigroup Inc. reiterated a “buy” rating on shares of Westrock Company in a report on Friday, April 14th. BMO Capital Markets reiterated a “buy” rating and issued a $62.00 target price on shares of Westrock Company in a report on Friday, April 7th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $66.00 target price on shares of Westrock Company in a report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $60.73.
In other Westrock Company news, Director John A. Luke, Jr. sold 75,000 shares of Westrock Company stock in a transaction that occurred on 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 directly owns 495,435 shares of the company’s stock, valued at $26,669,266.05. The sale was disclosed in a filing with the SEC, which is available at this link. 2.68% of the stock is currently owned by insiders.
Westrock Company 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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