Insider Selling: Westrock Co (NYSE:WRK) Director Sells 188,659 Shares of Stock

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Westrock Co (NYSE:WRK) Director John A. Luke, Jr. sold 188,659 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $40.67, for a total transaction of $7,672,761.53. Following the completion of the transaction, the director now directly owns 689,418 shares in the company, valued at approximately $28,038,630.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

NYSE WRK traded up $0.17 during trading on Monday, reaching $40.50. 119,372 shares of the company’s stock traded hands, compared to its average volume of 2,920,776. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 0.83. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 10.16, a price-to-earnings-growth ratio of 2.84 and a beta of 1.63. The company’s 50 day simple moving average is $38.49 and its two-hundred day simple moving average is $36.33. Westrock Co has a 12-month low of $31.94 and a 12-month high of $48.55.

Westrock (NYSE:WRK) last posted its earnings results on Thursday, November 7th. The basic materials company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.84 billion. Westrock had a net margin of 4.72% and a return on equity of 8.81%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.29 EPS. Research analysts expect that Westrock Co will post 3.32 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.465 per share. 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 4.59%. Westrock’s dividend payout ratio (DPR) is 46.73%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Voloridge Investment Management LLC acquired a new position in shares of Westrock during the 3rd quarter valued at about $1,542,000. National Pension Service lifted its position in Westrock by 5.3% during the 3rd quarter. National Pension Service now owns 374,408 shares of the basic materials company’s stock worth $13,647,000 after acquiring an additional 18,926 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Westrock by 1.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 87,514 shares of the basic materials company’s stock valued at $3,190,000 after purchasing an additional 1,485 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Westrock by 5.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,231,037 shares of the basic materials company’s stock valued at $44,871,000 after purchasing an additional 67,878 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in shares of Westrock by 0.7% in the 3rd quarter. California State Teachers Retirement System now owns 419,966 shares of the basic materials company’s stock valued at $15,308,000 after purchasing an additional 2,890 shares in the last quarter. 80.78% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on WRK shares. BNP Paribas started coverage on shares of Westrock in a research note on Monday. They issued an “outperform” rating and a $48.00 price target on the stock. Zacks Investment Research downgraded shares of Westrock from a “hold” rating to a “sell” rating and set a $39.00 price target on the stock. in a research note on Monday, October 14th. ValuEngine downgraded shares of Westrock from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. KeyCorp reaffirmed a “sell” rating and issued a $34.00 price target on shares of Westrock in a research note on Thursday, November 7th. Finally, Bank of America raised shares of Westrock from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Monday, November 18th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Westrock has a consensus rating of “Hold” and an average price target of $43.22.

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

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