John A. Luke, Jr. Sells 10343 Shares of Westrock Company (WRK) Stock

Judith Bessette
Agosto 13, 2017

Capstone Asset Management Co. reduced its position in Westrock Company (NYSE:WRK) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. Institutional investors and hedge funds own 89.22% of the company's stock. Chevy Chase Trust Holdings Inc. owned approximately 0.09% of Westrock worth $12,258,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. First Midwest Bank Trust Division boosted its position in shares of Westrock by 0.5% in the second quarter. FNY Partners Fund LP now owns 2,000 shares of the basic materials company's stock valued at $104,000 after buying an additional 1,750 shares during the last quarter. Vanguard Group Inc. boosted its stake in Westrock by 1.9% in the second quarter. Finally, Alambic Investment Management L.P. acquired a new stake in Westrock during the first quarter worth $282,000. Global X Management Co. Pennsylvania Trust Co purchased a new position in Westrock during the second quarter worth about $201,000. Franklin Resources Inc now owns 3,487,774 shares worth $197,616,000. Dimensional Fund Advisors LP raised its stake in Westrock by 2.1% in the first quarter.

Westrock (NYSE WRK) traded up 0.69% on Friday, reaching $55.61. The company had a trading volume of 889,522 shares.

Company chares are trading at $55.23 a bit lower than $57.69, the stock's 50 day moving average and slightly over the 200 day moving average of $54.53. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 33.74 and a beta of 1.37.

Westrock (NYSE:WRK) last posted its earnings results on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, topping the Zacks' consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. Analysts expect next quarter's EPS will be $0.77 with next year's EPS anticipated to be $3.64. During the same period in the prior year, the business posted $0.71 earnings per share. The company's revenue for the quarter was up 2.8% on a year-over-year basis. The 50 day moving average was down $-2.46 or -4.26% whereas the 200 day moving average was up $0.70 or +1.29%.

Noble Group reports $1.75 bln Q2 loss, hit by writedowns
Noble also faces challenges in bolstering the confidence of its lenders, suppliers, customers and other counterparties. Revenue in the quarter fell 19% on year to US$10.12 billion from US$12.45 billion.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be given a $0.40 dividend. The ex-dividend date is Wednesday the 9th of August 2017. The dividend yield will be $2.85. Westrock's dividend payout ratio (DPR) is presently 97.56%.

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WRK has been the subject of several other reports. Deutsche Bank AG raised their price target on shares of Westrock from $58.00 to $60.00 and gave the company a buy rating in a report on Tuesday, April 25th. Jefferies Group LLC reissued a "buy" rating and set a $65.00 price objective on shares of Westrock in a report on Thursday, June 22nd. Goldman Sachs Group, Inc. Finally, Credit Suisse Group reaffirmed a buy rating and issued a $66.00 target price on shares of Westrock in a research report on Thursday, April 27th. Zacks Investment Research upgraded shares of Westrock from a "hold" rating to a "buy" rating and set a $67.00 price target for the company in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of "Buy" and an average target price of $61.91.

"Sells 10,343 Shares of Westrock Company (WRK) Stock" was first reported by Community Financial News and is owned by of Community Financial News. The shares were sold at an average price of $57.26, for a total value of $592,240.18. Following the completion of the sale, the director now directly owns 497,557 shares of the company's stock, valued at $29,161,815.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. FMR LLC now owns 19,597,012 shares of the basic materials company's stock worth $1,019,633,000 after buying an additional 772,990 shares during the period. Corporate insiders own 2.68% of the company's stock. The Company also develops real estate in the Charleston, South Carolina region.

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