Chevy Chase Trust Holdings Inc. Buys 289 Shares of Westrock Co (NYSE:WRK)

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Chevy Chase Trust Holdings Inc. raised its stake in Westrock Co (NYSE:WRK) by 0.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 209,672 shares of the basic materials company’s stock after purchasing an additional 289 shares during the quarter. Chevy Chase Trust Holdings Inc.’s holdings in Westrock were worth $7,643,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Lowe Brockenbrough & Co. Inc. lifted its position in Westrock by 46.0% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 43,304 shares of the basic materials company’s stock valued at $1,578,000 after purchasing an additional 13,635 shares during the last quarter. State Street Corp raised its holdings in shares of Westrock by 0.8% during the third quarter. State Street Corp now owns 12,128,835 shares of the basic materials company’s stock valued at $442,096,000 after acquiring an additional 98,965 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Westrock by 3.1% during the third quarter. Cetera Advisors LLC now owns 11,029 shares of the basic materials company’s stock valued at $403,000 after acquiring an additional 334 shares in the last quarter. Cetera Advisor Networks LLC bought a new position in shares of Westrock during the third quarter valued at approximately $230,000. Finally, D.A. Davidson & CO. raised its holdings in shares of Westrock by 73.9% during the third quarter. D.A. Davidson & CO. now owns 15,948 shares of the basic materials company’s stock valued at $581,000 after acquiring an additional 6,779 shares in the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Shares of Westrock stock opened at $40.33 on Monday. The business has a 50 day moving average of $38.49 and a 200 day moving average of $36.33. The company has a quick ratio of 0.83, a current ratio of 1.45 and a debt-to-equity ratio of 0.81. The company has a market cap of $10.49 billion, a PE ratio of 10.13, a P/E/G ratio of 2.86 and a beta of 1.61. Westrock Co has a 52 week low of $31.94 and a 52 week high of $48.55.

Westrock (NYSE:WRK) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. The business had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.84 billion. Westrock had a return on equity of 8.81% and a net margin of 4.72%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.29 earnings per share. On average, research analysts anticipate that Westrock Co will post 3.32 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be issued a $0.465 dividend. This is an increase from Westrock’s previous quarterly dividend of $0.38. The ex-dividend date is Monday, November 18th. This represents a $1.86 dividend on an annualized basis and a yield of 4.61%. Westrock’s dividend payout ratio is 46.73%.

A number of equities analysts recently commented on the company. ValuEngine downgraded Westrock from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. KeyCorp restated a “sell” rating and set a $34.00 target price on shares of Westrock in a report on Thursday, November 7th. Citigroup decreased their target price on Westrock from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Zacks Investment Research downgraded Westrock from a “hold” rating to a “sell” rating and set a $39.00 target price for the company. in a report on Monday, October 14th. Finally, Bank of America upgraded Westrock from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a report on Monday, November 18th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $42.63.

In other Westrock news, Director John A. Luke, Jr. sold 20,603 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $38.68, for a total value of $796,924.04. Also, Director John A. Luke, Jr. sold 41,206 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $40.64, for a total value of $1,674,611.84. In the last quarter, insiders sold 164,824 shares of company stock valued at $6,386,106. 2.00% of the stock is owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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