ING Groep NV acquired a new position in WestRock Co. (NYSE:WRK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,209 shares of the company’s stock, valued at approximately $241,000.
Several other large investors have also modified their holdings of WRK. Botty Investors LLC purchased a new position in WestRock during the second quarter worth approximately $137,000. Advisor Partners LLC purchased a new position in WestRock during the first quarter worth approximately $203,000. Rehmann Capital Advisory Group purchased a new position in WestRock during the second quarter worth approximately $227,000. Westend Capital Management LLC purchased a new position in WestRock during the first quarter worth approximately $248,000. Finally, Maryland Capital Management boosted its position in WestRock by 2.1% in the first quarter. Maryland Capital Management now owns 8,725 shares of the company’s stock worth $341,000 after buying an additional 177 shares in the last quarter. Institutional investors own 90.32% of the company’s stock.
Shares of WestRock Co. (NYSE:WRK) traded up 3.68% during mid-day trading on Friday, reaching $46.71. 1,191,366 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $47.51 and a 200 day moving average price of $42.24. The firm’s market capitalization is $11.62 billion. WestRock Co. has a 12-month low of $29.73 and a 12-month high of $57.85.
WestRock (NYSE:WRK) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The company had revenue of $3.60 million for the quarter, compared to the consensus estimate of $3.70 billion. WestRock had a negative net margin of 1.27% and a positive return on equity of 6.71%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 EPS. Analysts anticipate that WestRock Co. will post $3.96 EPS for the current fiscal year.
A number of research firms recently commented on WRK. Goldman Sachs Group Inc. began coverage on WestRock in a research note on Thursday, September 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. Barclays PLC increased their target price on WestRock from $41.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 11th. Credit Suisse Group AG set a $50.00 target price on WestRock and gave the company a “buy” rating in a research note on Friday, August 5th. Deutsche Bank AG set a $50.00 target price on WestRock and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Citigroup Inc. increased their target price on WestRock from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $53.04.
In other WestRock news, Director John A. Luke, Jr. sold 188,103 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $46.62, for a total value of $8,769,361.86. Following the transaction, the director now directly owns 837,343 shares in the company, valued at approximately $39,036,930.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.41% of the company’s stock.
WestRock Company Profile
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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