The IBM Retirement Fund Invests $204000 in Westrock Company (WRK)
13 Août, 2017, 12:55 | Author: Marc Bacque
Chevy Chase Trust Holdings Inc. raised its stake in Westrock Company (NYSE:WRK) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The shares were sold at an average price of $57.16, for a total value of $591,205.88. Following the completion of the sale, the director now owns 497,557 shares in the company, valued at $29,161,815.77.
The company is trading down since yesterday's close of $56.14. The stock had a trading volume of 889,522 shares. Westrock Company has a 52 week low of $40.63 and a 52 week high of $60.36. The company has a market capitalization of $13.95 billion, a P/E ratio of 33.74 and a beta of 1.37. The firm's 50-day moving average is $57.65 and its 200-day moving average is $54.55.
Westrock (NYSE:WRK) last posted its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $0.74 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.64 by $0.10. Westrock had a net margin of 2.92% and a return on equity of 6.38%. Next quarter's EPS is forecasted to be $0.77 with next year's EPS projected to be $3.64. Dimensional Fund Advisors LP now owns 2,600,224 shares of the basic materials company's stock valued at $135,296,000 after buying an additional 53,323 shares during the last quarter. Westrock's revenue was up 2.8% compared to the same quarter past year. The 50 day moving average moved down $-2.46 whereas the 200 day moving average was up $0.70 or +1.29%.
The business 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 dividend of $0.40 per share. The ex-dividend date is Wednesday, August 9th. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. Westrock's payout ratio is 97.56%.
COPYRIGHT VIOLATION WARNING: "John A. Luke, Jr".
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If you are viewing this report on another publication, it was stolen and republished in violation of USA and global trademark & copyright laws. The correct version of this piece of content can be accessed at https://weekherald.com/2017/08/12/westrock-company-wrk-lowered-to-sell-at-bidaskclub.html. Finally, Goldman Sachs Group, Inc. Zacks Investment Research raised shares of Westrock from a "hold" rating to a "buy" rating and set a $67.00 target price on the stock in a report on Friday, July 14th. Credit Suisse Group restated a "buy" rating and issued a $66.00 price objective on shares of Westrock in a research note on Thursday, April 27th. TheStreet raised Westrock from a "c+" rating to a "b-" rating in a report on Thursday, May 11th.
August 7 investment analysts at Barclays kept the stock rating at "Equal-Weight" and raised the price target to $58.00 from $54.00. 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 presently has an average rating of "Buy" and a consensus target price of $61.91.
Several hedge funds and other institutional investors have recently made changes to their positions in WRK. Northwestern Mutual Wealth Management Co. boosted its position in shares of Westrock by 16.8% in the first quarter. Bank of Montreal Can now owns 2,547,693 shares of the basic materials company's stock valued at $144,353,000 after buying an additional 1,845,658 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Westrock during the fourth quarter valued at about $413,000.
Franklin Resources Inc expanded its stake by buying 3,487,473 shares an increase of 1,158,628.9% from 03/31/2017 to 06/30/2017. LLC boosted its position in shares of Westrock by 36.9% in the first quarter. Over the last three months, insiders sold 41,372 shares of company stock worth $2,404,334. Cleararc Capital Inc. raised its position in shares of Westrock by 0.7% in the first quarter. Evercore Wealth Management LLC now owns 611,189 shares of the basic materials company's stock worth $34,630,000 after buying an additional 6,777 shares during the period. Royal Bank Of Canada upgraded shares of Westrock from a sector perform rating to an outperform rating and raised their price target for the company from $54.00 to $59.00 in a report on Wednesday, April 19th. Franklin Resources Inc claims 3,487,774 shares worth $197,616,000. The institutional investor owned 216,355 shares of the basic materials company's stock after buying an additional 459 shares during the period. Boston Partners boosted its stake in Westrock by 0.5% in the second quarter. The Company also develops real estate in the Charleston, South Carolina region.
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