Twin Capital Management Inc. Sells 30,200 Shares of Westrock Co (NYSE:WRK)

Twin Capital Management Inc. trimmed its holdings in shares of Westrock Co (NYSE:WRK) by 74.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,280 shares of the basic materials company’s stock after selling 30,200 shares during the period. Twin Capital Management Inc.’s holdings in Westrock were worth $375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kavar Capital Partners LLC purchased a new stake in shares of Westrock during the second quarter worth about $60,000. Stephens Inc. AR boosted its holdings in shares of Westrock by 2.6% during the second quarter. Stephens Inc. AR now owns 25,271 shares of the basic materials company’s stock worth $922,000 after purchasing an additional 650 shares during the period. Hartford Financial Management Inc. boosted its holdings in shares of Westrock by 9.1% during the second quarter. Hartford Financial Management Inc. now owns 33,746 shares of the basic materials company’s stock worth $1,231,000 after purchasing an additional 2,813 shares during the period. B & T Capital Management DBA Alpha Capital Management purchased a new stake in shares of Westrock during the second quarter worth about $237,000. Finally, Amica Retiree Medical Trust boosted its holdings in shares of Westrock by 72.8% during the second quarter. Amica Retiree Medical Trust now owns 7,894 shares of the basic materials company’s stock worth $288,000 after purchasing an additional 3,326 shares during the period. Institutional investors and hedge funds own 82.77% of the company’s stock.

In other Westrock news, Director John A. Luke, Jr. sold 61,809 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $38.00, for a total transaction of $2,348,742.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by company insiders.



A number of analysts have recently weighed in on the stock. KeyCorp lowered shares of Westrock from a “sector weight” rating to an “underweight” rating and set a $32.00 target price for the company. in a report on Monday, July 15th. UBS Group set a $44.00 target price on shares of Westrock and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Zacks Investment Research upgraded shares of Westrock from a “strong sell” rating to a “hold” rating and set a $30.00 target price for the company in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $44.20.

WRK traded up $0.75 on Friday, hitting $33.35. The company had a trading volume of 2,885,900 shares, compared to its average volume of 2,307,519. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.45 and a quick ratio of 0.87. Westrock Co has a 52-week low of $32.01 and a 52-week high of $57.23. The stock has a fifty day simple moving average of $36.18 and a 200-day simple moving average of $37.07. The firm has a market capitalization of $8.38 billion, a P/E ratio of 8.15, a P/E/G ratio of 1.87 and a beta of 1.61.

Westrock (NYSE:WRK) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $1.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.09. Westrock had a net margin of 4.65% and a return on equity of 8.97%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period last year, the business posted $1.09 earnings per share. Westrock’s quarterly revenue was up 16.3% compared to the same quarter last year. Equities research analysts expect that Westrock Co will post 3.86 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th will be issued a $0.455 dividend. The ex-dividend date is Thursday, August 8th. This represents a $1.82 annualized dividend and a yield of 5.46%. Westrock’s dividend payout ratio (DPR) is presently 44.50%.

About Westrock

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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