Swiss National Bank Cuts Position in Westrock Co (NYSE:WRK)

Swiss National Bank decreased its position in Westrock Co (NYSE:WRK) by 1.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 832,104 shares of the basic materials company’s stock after selling 13,900 shares during the quarter. Swiss National Bank’s holdings in Westrock were worth $30,347,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WRK. CSat Investment Advisory L.P. grew its stake in shares of Westrock by 60.0% in the first quarter. CSat Investment Advisory L.P. now owns 795 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 298 shares in the last quarter. Signaturefd LLC grew its stake in shares of Westrock by 154.1% during the second quarter. Signaturefd LLC now owns 1,080 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 655 shares in the last quarter. Kavar Capital Partners LLC acquired a new position in shares of Westrock during the second quarter worth $60,000. Synovus Financial Corp grew its stake in shares of Westrock by 87.7% during the first quarter. Synovus Financial Corp now owns 2,320 shares of the basic materials company’s stock worth $89,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Farmers National Bank acquired a new position in Westrock in the first quarter valued at $93,000. 82.96% of the stock is currently owned by institutional investors.

In other news, Director John A. Luke, Jr. sold 61,809 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $38.00, for a total value of $2,348,742.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Shares of NYSE:WRK opened at $33.61 on Thursday. The company has a 50-day simple moving average of $35.88 and a 200-day simple moving average of $36.96. Westrock Co has a one year low of $32.01 and a one year high of $57.23. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.87 and a current ratio of 1.45. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.95 and a beta of 1.61.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 9th were issued a $0.455 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 5.42%. Westrock’s payout ratio is 44.50%.

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

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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