Cumberland Partners Ltd decreased its stake in WestRock Co. (NYSE:WRK) by 6.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,400 shares of the company’s stock after selling 375 shares during the period. Cumberland Partners Ltd’s holdings in WestRock were worth $210,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Teachers Advisors Inc. raised its stake in shares of WestRock by 40.5% in the first quarter. Teachers Advisors Inc. now owns 710,221 shares of the company’s stock valued at $27,720,000 after buying an additional 204,812 shares during the period. Gagnon Securities LLC purchased a new stake in shares of WestRock during the first quarter valued at approximately $262,000. IFP Advisors Inc raised its stake in shares of WestRock by 6.2% in the first quarter. IFP Advisors Inc now owns 5,660 shares of the company’s stock valued at $221,000 after buying an additional 328 shares during the period. Virginia Retirement System purchased a new stake in shares of WestRock during the first quarter valued at approximately $1,209,000. Finally, Nisa Investment Advisors L.L.C. raised its stake in shares of WestRock by 14.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 20,204 shares of the company’s stock valued at $789,000 after buying an additional 2,600 shares during the period. 90.32% of the stock is currently owned by institutional investors and hedge funds.
WestRock Co. (NYSE:WRK) traded up 0.08% during mid-day trading on Friday, hitting $48.40. The stock had a trading volume of 1,282,204 shares. The stock’s market cap is $12.04 billion. The firm’s 50-day moving average is $46.39 and its 200 day moving average is $41.26. WestRock Co. has a one year low of $29.73 and a one year high of $57.85.
WestRock (NYSE:WRK) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 earnings per share. Equities research analysts expect that WestRock Co. will post $3.96 EPS for the current year.
Several equities research analysts have recently commented on the company. Credit Agricole SA boosted their price target on WestRock from $46.00 to $54.00 and gave the stock an “underperform” rating in a research note on Tuesday, September 6th. Citigroup Inc. upped their target price on WestRock from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Wednesday, August 31st. Deutsche Bank AG upped their target price on WestRock from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. Goldman Sachs Group Inc. assumed coverage on WestRock in a research note on Thursday. They issued a “neutral” rating and a $53.00 target price on the stock. Finally, Jefferies Group reaffirmed a “buy” rating on shares of WestRock in a research note on Monday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s 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 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 in the company, valued at $39,036,930.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.41% of the stock is currently owned by company insiders.
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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