Boston Advisors LLC acquired a new position in shares of WestRock Co. (NYSE:WRK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 123,179 shares of the company’s stock, valued at approximately $4,788,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of WRK. Botty Investors LLC bought a new position in WestRock during the second quarter worth $137,000. Advisor Partners LLC acquired a new stake in WestRock during the first quarter worth approximately $203,000. IFP Advisors Inc raised its stake in WestRock by 6.2% in the first quarter. IFP Advisors Inc now owns 5,660 shares of the company’s stock worth $221,000 after buying an additional 328 shares during the last quarter. Rehmann Capital Advisory Group acquired a new stake in WestRock during the second quarter worth approximately $227,000. Finally, Westend Capital Management LLC acquired a new stake in WestRock during the first quarter worth approximately $248,000. 90.32% of the stock is owned by institutional investors.
WestRock Co. (NYSE:WRK) traded down 0.90% during trading on Thursday, reaching $47.31. The company had a trading volume of 1,139,668 shares. WestRock Co. has a 52 week low of $29.73 and a 52 week high of $57.85. The stock has a 50 day moving average price of $46.94 and a 200 day moving average price of $41.69. The firm’s market capitalization is $11.77 billion.
WestRock (NYSE:WRK) last posted its earnings results on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. WestRock had a negative net margin of 1.27% and a positive return on equity of 6.71%. The business had revenue of $3.60 million for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the company posted $1.15 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts predict that WestRock Co. will post $3.96 earnings per share for the current year.
A number of research firms have commented on WRK. Deutsche Bank AG set a $50.00 target price on WestRock and gave the stock a “buy” rating in a report on Friday, August 5th. BMO Capital Markets reissued a “buy” rating and issued a $52.00 target price on shares of WestRock in a report on Friday, August 5th. Bank of America Corp. reissued a “hold” rating and issued a $45.00 target price on shares of WestRock in a report on Friday, August 5th. Jefferies Group reissued a “buy” rating on shares of WestRock in a report on Monday, August 22nd. Finally, Credit Suisse Group AG set a $50.00 target price on WestRock and gave the stock a “buy” rating in a report on Friday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $53.04.
In other news, Director John A. Luke, Jr. sold 188,103 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $46.62, for a total transaction of $8,769,361.86. Following the sale, the director now directly owns 837,343 shares of the company’s stock, valued at approximately $39,036,930.66. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.41% of the company’s stock.
Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.
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