Northern Trust Corp raised its position in Westrock Co (NYSE:WRK) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,026,316 shares of the basic materials company’s stock after purchasing an additional 85,678 shares during the period. Northern Trust Corp owned 1.18% of Westrock worth $110,370,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Clark Estates Inc. NY boosted its holdings in Westrock by 35.2% in the 2nd quarter. Clark Estates Inc. NY now owns 784,249 shares of the basic materials company’s stock valued at $28,602,000 after purchasing an additional 204,249 shares during the period. State Treasurer State of Michigan boosted its holdings in Westrock by 1.4% in the 1st quarter. State Treasurer State of Michigan now owns 73,602 shares of the basic materials company’s stock valued at $2,823,000 after purchasing an additional 1,000 shares during the period. First Trust Advisors LP boosted its holdings in Westrock by 19.6% in the 1st quarter. First Trust Advisors LP now owns 660,358 shares of the basic materials company’s stock valued at $25,325,000 after purchasing an additional 108,204 shares during the period. Great Lakes Advisors LLC bought a new position in Westrock in the 2nd quarter valued at $1,481,000. Finally, Janus Henderson Group PLC boosted its holdings in Westrock by 265.2% in the 2nd quarter. Janus Henderson Group PLC now owns 266,580 shares of the basic materials company’s stock valued at $9,714,000 after purchasing an additional 193,591 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE WRK traded up $0.92 during mid-day trading on Friday, reaching $39.36. 144,554 shares of the company were exchanged, compared to its average volume of 2,101,965. Westrock Co has a 52 week low of $31.94 and a 52 week high of $57.23. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $9.73 billion, a PE ratio of 9.69, a PEG ratio of 2.17 and a beta of 1.62. The company’s 50 day moving average price is $34.80 and its 200 day moving average price is $36.50.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 9th were issued a dividend of $0.455 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Thursday, August 8th. Westrock’s dividend payout ratio is currently 44.50%.
Several brokerages have commented on WRK. UBS Group set a $44.00 price target on shares of Westrock and gave the company a “buy” rating in a report on Monday, June 24th. Zacks Investment Research raised shares of Westrock from a “strong sell” rating to a “hold” rating and set a $30.00 price objective for the company in a report on Thursday, August 8th. Finally, KeyCorp downgraded shares of Westrock from a “sector weight” rating to an “underweight” rating and set a $32.00 price objective for the company. in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $44.20.
In other Westrock news, Director John A. Luke, Jr. sold 61,809 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $38.00, for a total value of $2,348,742.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.
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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