343,062 Shares in Westrock Company (WRK) Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new position in shares of Westrock Company (NYSE:WRK) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 343,062 shares of the basic materials company’s stock, valued at approximately $19,438,000. Renaissance Technologies LLC owned approximately 0.14% of Westrock as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Westrock by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 26,211,606 shares of the basic materials company’s stock worth $1,485,150,000 after buying an additional 484,771 shares in the last quarter. BlackRock Inc. lifted its position in Westrock by 0.8% during the 2nd quarter. BlackRock Inc. now owns 22,598,192 shares of the basic materials company’s stock worth $1,280,411,000 after buying an additional 180,112 shares in the last quarter. Boston Partners lifted its position in Westrock by 0.5% during the 2nd quarter. Boston Partners now owns 9,097,512 shares of the basic materials company’s stock worth $515,465,000 after buying an additional 48,092 shares in the last quarter. American Century Companies Inc. lifted its position in Westrock by 10.3% during the 2nd quarter. American Century Companies Inc. now owns 3,265,213 shares of the basic materials company’s stock worth $185,007,000 after buying an additional 304,605 shares in the last quarter. Finally, AJO LP lifted its position in Westrock by 13,639.1% during the 2nd quarter. AJO LP now owns 2,782,160 shares of the basic materials company’s stock worth $157,637,000 after buying an additional 2,761,910 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.

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In other news, insider Jeffrey Wayne Chalovich sold 18,368 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $58.41, for a total transaction of $1,072,874.88. Following the sale, the insider now directly owns 24,859 shares in the company, valued at $1,452,014.19. The transaction 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 business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $59.43, for a total value of $614,684.49. Following the sale, the director now owns 497,557 shares in the company, valued at $29,569,812.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 453,722 shares of company stock worth $25,488,985. Company insiders own 2.68% of the company’s stock.

Westrock Company (NYSE WRK) opened at 58.71 on Friday. The company’s 50-day moving average is $57.48 and its 200 day moving average is $57.48. The firm has a market cap of $14.73 billion, a P/E ratio of 35.62 and a beta of 1.35. Westrock Company has a 12 month low of $43.79 and a 12 month high of $59.10.

Westrock (NYSE:WRK) last released its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.10. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the business posted $0.71 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts expect that Westrock Company will post $2.58 EPS for the current fiscal year.

Several research analysts recently issued reports on WRK shares. Jefferies Group LLC reiterated a “buy” rating and set a $68.00 price target on shares of Westrock in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Westrock from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Friday, July 14th. BMO Capital Markets reiterated a “buy” rating and set a $62.00 price target on shares of Westrock in a research report on Thursday, June 15th. Royal Bank Of Canada reiterated 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 reiterated 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. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Westrock has a consensus rating of “Buy” and a consensus price target of $64.33.

About Westrock

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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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