Private Management Group Inc. Has $23.44 Million Holdings in Westrock Company (WRK)

Private Management Group Inc. decreased its position in shares of Westrock Company (NYSE:WRK) by 6.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 413,157 shares of the basic materials company’s stock after selling 29,015 shares during the quarter. Private Management Group Inc. owned about 0.16% of Westrock worth $23,438,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in WRK. AJO LP raised its holdings 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 purchasing an additional 2,761,910 shares during the last quarter. Prudential Financial Inc. raised its holdings in Westrock by 327.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,998,206 shares of the basic materials company’s stock worth $113,218,000 after purchasing an additional 1,530,797 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Westrock by 2,916.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,024,046 shares of the basic materials company’s stock worth $58,023,000 after purchasing an additional 990,097 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in Westrock by 1,801.4% during the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 962,436 shares of the basic materials company’s stock worth $37,410,000 after purchasing an additional 911,819 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings 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 purchasing an additional 484,771 shares during the last quarter. Hedge funds and other institutional investors own 88.80% of the company’s stock.

Westrock Company (NYSE:WRK) traded down $0.18 during midday trading on Wednesday, reaching $58.66. 1,389,500 shares of the company traded hands, compared to its average volume of 1,454,640. Westrock Company has a twelve month low of $48.97 and a twelve month high of $61.60. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57. The firm has a market cap of $14,733.71, a P/E ratio of 22.46, a P/E/G ratio of 1.36 and a beta of 1.37.

Westrock (NYSE:WRK) last posted its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.06. Westrock had a net margin of 4.77% and a return on equity of 6.73%. The business had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter last year, the firm posted $0.71 EPS. Westrock’s revenue was up 12.4% compared to the same quarter last year. sell-side analysts anticipate that Westrock Company will post 3.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, November 10th will be given a $0.43 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $1.72 annualized dividend and a yield of 2.93%. This is an increase from Westrock’s previous quarterly dividend of $0.40. Westrock’s dividend payout ratio (DPR) is presently 62.09%.

Several research firms have issued reports on WRK. Barclays PLC restated a “hold” rating on shares of Westrock in a report on Friday, November 10th. BidaskClub lowered shares of Westrock from a “hold” rating to a “sell” rating in a report on Friday, August 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $69.00 price objective on shares of Westrock in a research report on Friday, August 4th. Zacks Investment Research downgraded shares of Westrock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 7th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 price objective on shares of Westrock in a research report on Monday, September 25th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.09.

In related news, Director John A. Luke, Jr. sold 10,343 shares of Westrock stock in a transaction on Monday, August 21st. The shares were sold at an average price of $55.78, for a total value of $576,932.54. Following the completion of the sale, the director now owns 497,557 shares of the company’s stock, valued at approximately $27,753,729.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John A. Luke, Jr. sold 87,202 shares of Westrock stock in a transaction on Monday, August 28th. The shares were sold at an average price of $55.06, for a total transaction of $4,801,342.12. Following the completion of the sale, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $27,395,488.42. The disclosure for this sale can be found here. In the last three months, insiders sold 453,722 shares of company stock valued at $25,585,382. 2.68% of the stock is currently owned by insiders.

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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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