Northpointe Capital LLC boosted its position in Westrock Co (NYSE:WRK) by 105.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,851 shares of the basic materials company’s stock after purchasing an additional 34,755 shares during the quarter. Northpointe Capital LLC’s holdings in Westrock were worth $2,602,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in WRK. BlackRock Inc. grew its holdings in Westrock by 12.3% in the 4th quarter. BlackRock Inc. now owns 22,410,471 shares of the basic materials company’s stock valued at $846,221,000 after buying an additional 2,445,795 shares during the period. American Century Companies Inc. grew its holdings in Westrock by 11.4% in the 4th quarter. American Century Companies Inc. now owns 6,378,609 shares of the basic materials company’s stock valued at $240,856,000 after buying an additional 652,024 shares during the period. LSV Asset Management grew its holdings in Westrock by 333.2% in the 4th quarter. LSV Asset Management now owns 5,851,396 shares of the basic materials company’s stock valued at $220,948,000 after buying an additional 4,500,770 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Westrock by 4,262.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,767,164 shares of the basic materials company’s stock valued at $100,000 after buying an additional 3,680,813 shares during the period. Finally, Norges Bank purchased a new stake in Westrock in the 4th quarter valued at about $141,233,000. 87.80% of the stock is owned by hedge funds and other institutional investors.
WRK has been the subject of several recent analyst reports. Royal Bank of Canada cut Westrock from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 8th. Barclays cut Westrock from a “buy” rating to a “neutral” rating and lowered their price target for the company from $52.00 to $42.00 in a report on Monday, January 7th. ValuEngine cut Westrock from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 2nd. KeyCorp reiterated a “hold” rating on shares of Westrock in a report on Monday, January 7th. Finally, Citigroup cut Westrock from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $52.00 to $42.00 in a report on Monday, January 7th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $49.88.
In related news, CFO Ward H. Dickson purchased 2,645 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was purchased at an average price of $37.94 per share, for a total transaction of $100,351.30. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Currey M. Russell purchased 5,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was bought at an average price of $37.50 per share, with a total value of $187,500.00. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by insiders.
Shares of NYSE:WRK traded down $0.94 during trading on Wednesday, reaching $35.94. 979,170 shares of the stock were exchanged, compared to its average volume of 2,302,830. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.84 and a current ratio of 1.40. Westrock Co has a 12-month low of $35.20 and a 12-month high of $67.01. The stock has a market capitalization of $9.42 billion, a P/E ratio of 8.79, a PEG ratio of 1.73 and a beta of 1.61.
Westrock (NYSE:WRK) last issued its earnings results on Thursday, January 31st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.03. Westrock had a return on equity of 9.12% and a net margin of 5.44%. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.58 billion. Analysts predict that Westrock Co will post 3.94 earnings per share for the current year.
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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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