Cipher Capital LP lifted its position in shares of Westrock Company (NYSE:WRK) by 1,127.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 85,681 shares of the basic materials company’s stock after acquiring an additional 78,700 shares during the quarter. Cipher Capital LP’s holdings in Westrock were worth $4,861,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Westrock by 1.9% in 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 period. BlackRock Inc. boosted its stake in Westrock by 0.8% in the 2nd quarter. BlackRock Inc. now owns 22,598,192 shares of the basic materials company’s stock worth $1,280,411,000 after purchasing an additional 180,112 shares during the period. Boston Partners boosted its stake in Westrock by 0.5% in the 2nd quarter. Boston Partners now owns 9,097,512 shares of the basic materials company’s stock worth $515,465,000 after purchasing an additional 48,092 shares during the period. American Century Companies Inc. boosted its stake in Westrock by 7.0% in the 3rd quarter. American Century Companies Inc. now owns 3,492,402 shares of the basic materials company’s stock worth $198,124,000 after purchasing an additional 227,189 shares during the period. Finally, AJO LP boosted its stake in Westrock by 13,639.1% in 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 period. Institutional investors own 88.80% of the company’s stock.
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Several brokerages have commented on WRK. Stephens began coverage on Westrock in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $61.00 target price for the company. KeyCorp restated a “hold” rating on shares of Westrock in a research note on Wednesday, October 11th. Barclays PLC raised their target price on Westrock from $54.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. BidaskClub upgraded Westrock from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Finally, Zacks Investment Research downgraded Westrock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Five 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’s stock. The company presently has a consensus rating of “Buy” and an average target price of $65.09.
Shares of Westrock Company (NYSE:WRK) traded up $0.35 on Friday, hitting $59.50. The stock had a trading volume of 1,179,974 shares, compared to its average volume of 1,453,238. The company has a market cap of $15,020.00 and a P/E ratio of 22.39. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.57. Westrock Company has a 12-month low of $49.23 and a 12-month high of $61.60.
Westrock (NYSE:WRK) last issued its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.06. The firm had revenue of $4.06 billion during the quarter, compared to the consensus estimate of $4.13 billion. Westrock had a return on equity of 6.73% and a net margin of 4.77%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $0.71 EPS. equities research analysts expect that Westrock Company will post 3.74 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Stockholders of record on Friday, November 10th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Thursday, November 9th. This is an increase from Westrock’s previous quarterly dividend of $0.40. Westrock’s dividend payout ratio (DPR) is 62.09%.
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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