Westrock Sees Unusually Large Options Volume (WRK)

Westrock Co (NYSE:WRK) saw some unusual options trading activity on Monday. Traders purchased 1,380 put options on the company. This represents an increase of 858% compared to the typical daily volume of 144 put options.

In other news, insider Robert A. Feeser sold 67,755 shares of Westrock stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $46.91, for a total value of $3,178,387.05. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Deutsche Bank AG lifted its holdings in shares of Westrock by 376.9% in the 3rd quarter. Deutsche Bank AG now owns 2,241,682 shares of the basic materials company’s stock worth $119,792,000 after purchasing an additional 1,771,634 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Westrock in the 3rd quarter worth $55,417,000. Capital World Investors raised its position in Westrock by 3.9% in the 3rd quarter. Capital World Investors now owns 25,380,354 shares of the basic materials company’s stock valued at $1,356,326,000 after buying an additional 949,500 shares during the last quarter. American Century Companies Inc. raised its position in Westrock by 19.2% in the 3rd quarter. American Century Companies Inc. now owns 5,726,585 shares of the basic materials company’s stock valued at $306,029,000 after buying an additional 920,521 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its position in Westrock by 60.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,352,670 shares of the basic materials company’s stock valued at $125,727,000 after buying an additional 883,199 shares during the last quarter. Hedge funds and other institutional investors own 83.90% of the company’s stock.

WRK has been the topic of a number of recent analyst reports. Wells Fargo & Co lowered their target price on shares of Westrock from $63.00 to $53.00 and set a “market perform” rating on the stock in a report on Tuesday, October 9th. KeyCorp reissued a “hold” rating on shares of Westrock in a research report on Thursday, December 20th. Goldman Sachs Group cut shares of Westrock from a “conviction-buy” rating to a “buy” rating and set a $64.00 target price for the company. in a research report on Wednesday, October 10th. BMO Capital Markets downgraded Westrock from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $80.00 to $54.00 in a research note on Tuesday, October 9th. Finally, ValuEngine downgraded Westrock from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. Westrock presently has a consensus rating of “Hold” and an average price target of $61.00.

NYSE WRK traded up $1.29 during trading on Thursday, hitting $40.29. 5,546,400 shares of the company’s stock were exchanged, compared to its average volume of 2,994,486. Westrock has a fifty-two week low of $35.20 and a fifty-two week high of $71.55. The company has a current ratio of 1.44, a quick ratio of 0.89 and a debt-to-equity ratio of 0.49. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 1.36 and a beta of 1.68.

Westrock (NYSE:WRK) last released its quarterly earnings data on Monday, November 5th. The basic materials company reported $1.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.05. Westrock had a return on equity of 9.26% and a net margin of 11.70%. The company had revenue of $4.24 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts predict that Westrock will post 4.57 earnings per share for the current year.

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Westrock Company 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.

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