Oakworth Capital Inc. Has $72,000 Stock Position in Westrock Co (NYSE:WRK)

Oakworth Capital Inc. increased its position in shares of Westrock Co (NYSE:WRK) by 111.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,963 shares of the basic materials company’s stock after buying an additional 1,033 shares during the quarter. Oakworth Capital Inc.’s holdings in Westrock were worth $72,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in Westrock by 38.6% during the 1st quarter. BlackRock Inc. now owns 31,068,544 shares of the basic materials company’s stock worth $1,191,478,000 after purchasing an additional 8,658,073 shares in the last quarter. LSV Asset Management increased its holdings in Westrock by 3.8% during the 1st quarter. LSV Asset Management now owns 6,072,603 shares of the basic materials company’s stock worth $232,884,000 after purchasing an additional 221,207 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Westrock by 8.8% in the fourth quarter. Geode Capital Management LLC now owns 3,667,527 shares of the basic materials company’s stock valued at $138,267,000 after acquiring an additional 297,507 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Westrock by 0.4% in the first quarter. Northern Trust Corp now owns 2,940,638 shares of the basic materials company’s stock valued at $112,773,000 after acquiring an additional 11,589 shares in the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of Westrock by 14.6% in the first quarter. Bank of Montreal Can now owns 1,871,162 shares of the basic materials company’s stock valued at $71,758,000 after acquiring an additional 237,991 shares in the last quarter. 82.96% of the stock is currently owned by institutional investors and hedge funds.

In other Westrock news, Director John A. Luke, Jr. sold 61,809 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $38.00, for a total transaction of $2,348,742.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Several equities analysts have recently issued reports on WRK shares. Zacks Investment Research raised Westrock from a “strong sell” rating to a “hold” rating and set a $30.00 target price for the company in a report on Thursday, August 8th. UBS Group set a $44.00 target price on Westrock and gave the company a “buy” rating in a report on Monday, June 24th. Finally, KeyCorp lowered Westrock from a “sector weight” rating to an “underweight” rating and set a $32.00 target price for the company. in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $44.20.

NYSE WRK traded up $0.92 on Monday, hitting $34.27. 21,679 shares of the stock traded hands, compared to its average volume of 2,307,519. The business’s fifty day moving average is $36.18 and its two-hundred day moving average is $37.07. Westrock Co has a 12 month low of $32.01 and a 12 month high of $57.23. The firm has a market capitalization of $8.38 billion, a price-to-earnings ratio of 8.39, a PEG ratio of 1.87 and a beta of 1.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.45.

Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.09. Westrock had a return on equity of 8.97% and a net margin of 4.65%. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same period in the prior year, the company earned $1.09 earnings per share. Westrock’s revenue was up 16.3% compared to the same quarter last year. Analysts expect that Westrock Co will post 3.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 9th will be issued a dividend of $0.455 per share. This represents a $1.82 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend is Thursday, August 8th. Westrock’s dividend payout ratio (DPR) is 44.50%.

Westrock Profile

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.

Further Reading: Return on Equity (ROE)

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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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