Westrock Co (NYSE:WRK) Shares Acquired by Hartford Financial Management Inc.

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Hartford Financial Management Inc. lifted its position in shares of Westrock Co (NYSE:WRK) by 9.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,746 shares of the basic materials company’s stock after acquiring an additional 2,813 shares during the period. Hartford Financial Management Inc.’s holdings in Westrock were worth $1,231,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of WRK. BlackRock Inc. raised its position in shares of Westrock by 38.6% during the 1st quarter. BlackRock Inc. now owns 31,068,544 shares of the basic materials company’s stock valued at $1,191,478,000 after acquiring an additional 8,658,073 shares in the last quarter. Clark Estates Inc. NY acquired a new stake in shares of Westrock during the 1st quarter valued at approximately $22,243,000. Geode Capital Management LLC raised its position in shares of Westrock by 8.8% during the 4th quarter. Geode Capital Management LLC now owns 3,667,527 shares of the basic materials company’s stock valued at $138,267,000 after acquiring an additional 297,507 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Westrock by 757.1% during the 1st quarter. Acadian Asset Management LLC now owns 289,860 shares of the basic materials company’s stock valued at $11,116,000 after acquiring an additional 256,040 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Westrock by 81.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 533,417 shares of the basic materials company’s stock valued at $20,456,000 after acquiring an additional 240,185 shares in the last quarter. 82.77% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director John A. Luke, Jr. sold 61,809 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $38.00, for a total transaction of $2,348,742.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Several research firms recently issued reports on WRK. Zacks Investment Research raised Westrock from a “strong sell” rating to a “hold” rating and set a $30.00 price target on the stock in a research report on Thursday, August 8th. KeyCorp cut Westrock from a “sector weight” rating to an “underweight” rating and set a $32.00 price target for the company. in a research note on Monday, July 15th. UBS Group set a $44.00 price target on Westrock and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Deutsche Bank cut Westrock from a “buy” rating to a “hold” rating and decreased their price target for the stock from $51.00 to $42.00 in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $44.20.

NYSE:WRK opened at $34.65 on Wednesday. Westrock Co has a 1 year low of $32.01 and a 1 year high of $57.23. The company has a market capitalization of $8.90 billion, a PE ratio of 8.47, a price-to-earnings-growth ratio of 1.95 and a beta of 1.61. The stock has a fifty day simple moving average of $36.28. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.45.

Westrock (NYSE:WRK) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.83 billion. During the same quarter in the prior year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 16.3% compared to the same quarter last year. Equities analysts expect that Westrock Co will post 3.89 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 9th will be paid a dividend of $0.455 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.82 annualized dividend and a yield of 5.25%. 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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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