Westrock Company (WRK) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Westrock Company (NYSE:WRK) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,825,553 shares of the basic materials company’s stock after selling 43,311 shares during the period. Bank of New York Mellon Corp owned about 1.13% of Westrock worth $160,293,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings 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 buying an additional 484,771 shares during the period. BlackRock Inc. boosted its holdings 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 buying an additional 180,112 shares during the period. Boston Partners boosted its holdings 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 buying an additional 48,092 shares during the period. American Century Companies Inc. boosted its holdings 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 buying an additional 227,189 shares during the period. Finally, AJO LP boosted its holdings 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 buying an additional 2,761,910 shares during the period. 86.92% of the stock is owned by institutional investors.

In related news, Director John A. Luke, Jr. sold 10,343 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $58.55, for a total value of $605,582.65. Following the sale, the director now directly owns 497,557 shares of the company’s stock, valued at approximately $29,131,962.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Luke, Jr. sold 87,202 shares of the stock in a transaction dated Monday, August 28th. The stock was 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 in the company, valued at $27,395,488.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 443,379 shares of company stock valued at $25,008,449. 2.68% of the stock is owned by insiders.

WRK has been the subject of several recent analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $65.00 target price (up previously from $61.00) on shares of Westrock in a report on Monday, October 9th. BidaskClub downgraded shares of Westrock from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reissued a “buy” rating and set a $69.00 price objective on shares of Westrock in a report on Friday, August 4th. Barclays PLC reissued a “hold” rating on shares of Westrock in a report on Friday, November 10th. Finally, DA Davidson reissued a “buy” rating and set a $74.00 price objective on shares of Westrock in a report on Friday, November 3rd. Five 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’s stock. The company currently has an average rating of “Buy” and a consensus target price of $65.09.

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Westrock Company (NYSE:WRK) opened at $58.45 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.49 and a quick ratio of 0.89. Westrock Company has a 1-year low of $49.23 and a 1-year high of $61.60. The company has a market cap of $15,110.00 and a PE ratio of 22.71.

Westrock (NYSE:WRK) last announced its quarterly earnings results on Thursday, November 2nd. The basic materials company reported $0.87 EPS for the quarter, beating the Zacks’ 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 firm 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 earned $0.71 EPS. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. research analysts expect that Westrock Company will post 3.74 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were issued a $0.43 dividend. This is an increase from Westrock’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, November 9th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.94%. Westrock’s dividend payout ratio (DPR) is presently 62.09%.

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.

Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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