Successful Portfolios LLC Buys Shares of 6,000 Westrock Co (NYSE:WRK)

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Successful Portfolios LLC acquired a new position in Westrock Co (NYSE:WRK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,000 shares of the basic materials company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in shares of Westrock by 19.6% in the first quarter. First Trust Advisors LP now owns 660,358 shares of the basic materials company’s stock valued at $25,325,000 after buying an additional 108,204 shares during the period. Advisor Group Inc. boosted its stake in shares of Westrock by 11.4% in the first quarter. Advisor Group Inc. now owns 28,512 shares of the basic materials company’s stock valued at $1,094,000 after buying an additional 2,926 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Westrock by 8.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,622 shares of the basic materials company’s stock valued at $139,000 after buying an additional 293 shares during the period. MML Investors Services LLC boosted its stake in shares of Westrock by 93.2% in the first quarter. MML Investors Services LLC now owns 21,897 shares of the basic materials company’s stock valued at $840,000 after buying an additional 10,563 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Westrock by 1.0% in the first quarter. Principal Financial Group Inc. now owns 644,683 shares of the basic materials company’s stock valued at $24,724,000 after buying an additional 6,396 shares during the period. 82.22% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Westrock from a “strong sell” rating to a “hold” rating and set a $30.00 price target for the company in a research note on Thursday, August 8th. KeyCorp reiterated a “sell” rating and issued a $32.00 price target on shares of Westrock in a research note on Monday, September 23rd. ValuEngine cut Westrock from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, UBS Group set a $44.00 price target on Westrock and gave the company a “buy” rating in a research note on Monday, June 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $43.11.

NYSE WRK traded up $1.14 on Friday, hitting $36.55. 187,094 shares of the company’s stock were exchanged, compared to its average volume of 2,554,427. The stock has a 50-day moving average of $35.17 and a 200-day moving average of $36.17. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.82. Westrock Co has a 52 week low of $31.94 and a 52 week high of $48.55. The stock has a market cap of $8.63 billion, a price-to-earnings ratio of 8.94, a P/E/G ratio of 2.20 and a beta of 1.62.

Westrock (NYSE:WRK) last released its earnings results on Thursday, August 1st. The basic materials company reported $1.11 earnings per share for the quarter, topping 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 firm 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 company’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, analysts predict that Westrock Co will post 3.94 earnings per share for the current year.

In other Westrock news, Director John A. Luke, Jr. sold 20,603 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $38.68, for a total transaction of $796,924.04. Also, Director John A. Luke, Jr. sold 103,015 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $38.00, for a total transaction of $3,914,570.00. Insiders have sold 185,427 shares of company stock valued at $7,060,236 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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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