First Mercantile Trust Co. increased its position in WestRock Co. (NYSE:WRK) by 5.6% during the second quarter, Holdings Channel reports. The institutional investor owned 9,850 shares of the company’s stock after buying an additional 520 shares during the period. First Mercantile Trust Co.’s holdings in WestRock were worth $383,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in WRK. Mizuho Asset Management Co. Ltd. acquired a new position in shares of WestRock during the second quarter worth about $135,000. Botty Investors LLC purchased a new position in WestRock during the second quarter worth $137,000. Societe Generale purchased a new position in WestRock during the second quarter worth $201,000. Advisor Partners LLC purchased a new position in WestRock during the first quarter worth $203,000. Finally, IFP Advisors Inc raised its position 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 in the last quarter. 90.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WestRock Co. (NYSE:WRK) opened at 47.60 on Wednesday. The stock’s market capitalization is $11.84 billion. The firm’s 50-day moving average is $46.73 and its 200 day moving average is $41.60. WestRock Co. has a 1-year low of $29.73 and a 1-year high of $57.85.
WestRock (NYSE:WRK) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $3.60 million for the quarter, compared to analyst estimates of $3.70 billion. WestRock had a negative net margin of 1.27% and a positive return on equity of 6.71%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.15 earnings per share. On average, analysts expect that WestRock Co. will post $3.96 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on WRK shares. Zacks Investment Research lowered shares of WestRock from a “hold” rating to a “strong sell” rating in a research report on Monday, July 4th. Citigroup Inc. boosted their price objective on shares of WestRock from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Wednesday, August 31st. Credit Agricole SA boosted their price objective on shares of WestRock from $46.00 to $54.00 and gave the company an “underperform” rating in a research report on Tuesday, September 6th. Deutsche Bank AG boosted their price objective on shares of WestRock from $50.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, September 23rd. Finally, Goldman Sachs Group Inc. started coverage on shares of WestRock in a research report on Thursday, September 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $53.04.
In other news, Director John A. Luke, Jr. sold 188,103 shares of WestRock stock in a transaction that occurred on 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 owns 837,343 shares of the company’s stock, valued at $39,036,930.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.41% of the stock is currently owned by insiders.
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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