Dynamic Technology Lab Private Ltd Purchases Shares of 18,674 Westrock Company (WRK)
Dynamic Technology Lab Private Ltd purchased a new stake in Westrock Company (NYSE:WRK) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,674 shares of the basic materials company’s stock, valued at approximately $1,058,000.
Several other hedge funds have also added to or reduced their stakes in the stock. WINTON GROUP Ltd acquired a new position in shares of Westrock in the second quarter valued at about $427,000. Nomura Holdings Inc. grew its stake in shares of Westrock by 1,146.7% in the second quarter. Nomura Holdings Inc. now owns 80,526 shares of the basic materials company’s stock valued at $4,565,000 after acquiring an additional 74,067 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Westrock by 11.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 33,257 shares of the basic materials company’s stock valued at $1,884,000 after acquiring an additional 3,437 shares in the last quarter. Laurel Wealth Advisors Inc. acquired a new position in shares of Westrock in the second quarter valued at about $694,000. Finally, Princeton Portfolio Strategies Group LLC grew its stake in shares of Westrock by 88.8% in the second quarter. Princeton Portfolio Strategies Group LLC now owns 15,100 shares of the basic materials company’s stock valued at $856,000 after acquiring an additional 7,100 shares in the last quarter. Institutional investors and hedge funds own 88.57% of the company’s stock.
In other Westrock news, insider Jeffrey Wayne Chalovich sold 18,368 shares of Westrock 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 completion of the transaction, the insider now owns 24,859 shares of the company’s stock, valued at approximately $1,452,014.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $59.43, for a total value of $614,684.49. Following the transaction, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $29,569,812.51. The disclosure for this sale can be found here. Insiders have sold a total of 453,722 shares of company stock valued at $25,488,985 in the last ninety days. Insiders own 2.68% of the company’s stock.
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WRK has been the topic of several research reports. BidaskClub downgraded shares of Westrock from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Deutsche Bank AG restated a “buy” rating and issued a $65.00 price target (up from $61.00) on shares of Westrock in a research note on Monday, October 9th. Jefferies Group LLC restated a “buy” rating and issued a $69.00 price target on shares of Westrock in a research note on Friday, August 4th. Goldman Sachs Group, Inc. (The) upgraded shares of Westrock from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, July 13th. Finally, KeyCorp restated a “hold” rating on shares of Westrock in a research note on Thursday, June 29th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $64.33.
Shares of Westrock Company (WRK) traded up 0.26% during midday trading on Friday, reaching $58.86. 676,801 shares of the company’s stock were exchanged. The company has a market cap of $14.77 billion, a P/E ratio of 35.72 and a beta of 1.35. The firm has a 50 day moving average price of $57.53 and a 200 day moving average price of $56.03. Westrock Company has a 12 month low of $43.79 and a 12 month high of $59.11.
Westrock (NYSE:WRK) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.10. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.66 billion. Westrock had a return on equity of 6.38% and a net margin of 2.92%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. Equities research analysts forecast that Westrock Company will post $2.57 earnings per share for the current fiscal year.
Westrock 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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