Insider Selling: WestRock (NYSE:WRK) Director Sells 42,250 Shares of Stock

WestRock (NYSE:WRK) Director John A. Luke, Jr. sold 42,250 shares of the firm’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $66.12, for a total transaction of $2,793,570.00. Following the transaction, the director now directly owns 539,693 shares in the company, valued at approximately $35,684,501.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of WRK traded up $1.22 during mid-day trading on Tuesday, hitting $63.17. The company’s stock had a trading volume of 1,086,928 shares, compared to its average volume of 1,862,224. The stock has a market capitalization of $16,371.51, a P/E ratio of 24.11, a P/E/G ratio of 1.25 and a beta of 1.37. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 0.74. WestRock has a fifty-two week low of $49.23 and a fifty-two week high of $71.55.

WestRock (NYSE:WRK) last released its earnings results on Monday, January 29th. The basic materials company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.12. The business had revenue of $3.89 billion for the quarter, compared to the consensus estimate of $3.95 billion. WestRock had a net margin of 11.51% and a return on equity of 7.45%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. equities research analysts forecast that WestRock will post 3.99 EPS for the current fiscal year.

Several equities analysts have commented on WRK shares. Zacks Investment Research cut shares of WestRock from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Stephens set a $72.00 price objective on shares of WestRock and gave the stock a “hold” rating in a research note on Wednesday, January 10th. Bank of America lifted their price objective on shares of WestRock from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. ValuEngine raised shares of WestRock from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Finally, BMO Capital Markets lifted their price objective on shares of WestRock to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 12th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $74.25.

Institutional investors have recently added to or reduced their stakes in the company. Assetmark Inc. increased its position in shares of WestRock by 672.6% in the fourth quarter. Assetmark Inc. now owns 1,661 shares of the basic materials company’s stock worth $105,000 after acquiring an additional 1,446 shares in the last quarter. Invictus RG purchased a new position in shares of WestRock in the third quarter worth approximately $108,000. Old Mutual Global Investors UK Ltd. purchased a new position in shares of WestRock in the third quarter worth approximately $130,000. Tower Research Capital LLC TRC increased its position in shares of WestRock by 1,225.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,107 shares of the basic materials company’s stock worth $133,000 after acquiring an additional 1,948 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of WestRock in the third quarter worth approximately $147,000. 88.27% of the stock is currently owned by institutional investors and hedge funds.

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About WestRock

WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.

Insider Buying and Selling by Quarter for WestRock (NYSE:WRK)

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