Principal Financial Group Inc. Has $18,280,000 Stake in Westrock Company (WRK)

Principal Financial Group Inc. Has $18,280,000 Stake in Westrock Company (WRK)

Principal Financial Group Inc. decreased its stake in Westrock Company (NYSE:WRK) by 63.7% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 377,070 shares of the company’s stock after selling 660,397 shares during the period. Principal Financial Group Inc. owned about 0.15% of Westrock Company worth $18,280,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. MSI Financial Services Inc boosted its stake in shares of Westrock Company by 61.3% in the third quarter. MSI Financial Services Inc now owns 2,060 shares of the company’s stock valued at $100,000 after buying an additional 783 shares in the last quarter. Welch Group LLC purchased a new position in shares of Westrock Company during the third quarter worth about $117,000. Assetmark Inc. purchased a new position in shares of Westrock Company during the third quarter worth about $139,000. Engineers Gate Manager LP purchased a new position in shares of Westrock Company during the third quarter worth about $208,000. Finally, Davidson & Garrard Inc. purchased a new position in shares of Westrock Company during the third quarter worth about $209,000. Institutional investors own 89.24% of the company’s stock.

Shares of Westrock Company (NYSE:WRK) traded down 1.03% during mid-day trading on Friday, hitting $53.86. 1,194,153 shares of the stock were exchanged. Westrock Company has a 12-month low of $29.73 and a 12-month high of $56.12. The stock’s 50 day moving average price is $52.23 and its 200-day moving average price is $47.90. The stock has a market capitalization of $13.75 billion, a P/E ratio of 100.11 and a beta of 1.22.

Westrock Company (NYSE:WRK) last released its earnings results on Tuesday, January 24th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The business earned $3.45 billion during the quarter, compared to the consensus estimate of $3.48 billion. Westrock Company had a net margin of 0.96% and a return on equity of 6.32%. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts expect that Westrock Company will post $2.80 EPS for the current fiscal year.

WRK has been the subject of a number of analyst reports. Credit Suisse Group restated a “buy” rating and set a $56.00 price objective on shares of Westrock Company in a report on Monday, November 7th. Jefferies Group LLC decreased their price objective on shares of Westrock Company from $62.00 to $59.00 and set a “buy” rating for the company in a report on Tuesday, November 8th. Zacks Investment Research cut shares of Westrock Company from a “buy” rating to a “hold” rating in a report on Tuesday, November 15th. RBC Capital Markets restated a “hold” rating and set a $51.00 price objective on shares of Westrock Company in a report on Friday, January 6th. Finally, BMO Capital Markets restated a “buy” rating and set a $62.00 price objective on shares of Westrock Company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Westrock Company has an average rating of “Hold” and a consensus target price of $53.58.

In other Westrock Company news, insider James B. Porter sold 110,000 shares of the stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $48.19, for a total transaction of $5,300,900.00. Following the completion of the sale, the insider now owns 66,258 shares of the company’s stock, valued at approximately $3,192,973.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert A. Feeser sold 23,670 shares of the stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $51.28, for a total transaction of $1,213,797.60. Following the sale, the insider now directly owns 93,870 shares of the company’s stock, valued at approximately $4,813,653.60. The disclosure for this sale can be found here. Insiders have sold a total of 143,670 shares of company stock valued at $7,014,698 in the last three months. Insiders own 2.68% of the company’s stock.

Westrock Company Company Profile

Westrock Company is a provider of packaging solutions and manufactures containerboard and paperboard. The Company’s operating segments include Corrugated Packaging, Consumer Packaging, Specialty Chemicals, and Land and Development. The Company operates in North America, South America, Europe and Asia.

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