Nordea Investment Management AB lifted its stake in shares of Westrock Co (NYSE:WRK) by 64.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 770,791 shares of the basic materials company’s stock after purchasing an additional 301,591 shares during the quarter. Nordea Investment Management AB owned about 0.30% of Westrock worth $29,105,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in Westrock by 78.3% during the fourth quarter. Millennium Management LLC now owns 2,134,074 shares of the basic materials company’s stock valued at $80,583,000 after purchasing an additional 936,996 shares in the last quarter. Abacus Planning Group Inc. bought a new position in Westrock during the 4th quarter worth about $324,000. Lowe Brockenbrough & Co. Inc. grew its holdings in Westrock by 9.6% during the 4th quarter. Lowe Brockenbrough & Co. Inc. now owns 27,040 shares of the basic materials company’s stock worth $1,021,000 after acquiring an additional 2,360 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Westrock by 23.8% during the 4th quarter. Macquarie Group Ltd. now owns 200,673 shares of the basic materials company’s stock worth $7,577,000 after acquiring an additional 38,530 shares in the last quarter. Finally, First Allied Advisory Services Inc. grew its holdings in Westrock by 36.4% during the 4th quarter. First Allied Advisory Services Inc. now owns 20,171 shares of the basic materials company’s stock worth $768,000 after acquiring an additional 5,385 shares in the last quarter. Institutional investors and hedge funds own 87.80% of the company’s stock.
In other Westrock news, Director Currey M. Russell purchased 5,000 shares of Westrock stock in a transaction on Thursday, February 28th. The stock was bought at an average cost of $37.50 per share, with a total value of $187,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ward H. Dickson purchased 2,645 shares of Westrock stock in a transaction on Monday, February 4th. The shares were acquired at an average cost of $37.94 per share, with a total value of $100,351.30. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.
Westrock (NYSE:WRK) last announced its quarterly earnings data on Thursday, January 31st. The basic materials company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. The firm had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.58 billion. Westrock had a net margin of 5.44% and a return on equity of 9.12%. As a group, research analysts anticipate that Westrock Co will post 3.88 earnings per share for the current fiscal year.
Several research analysts have issued reports on WRK shares. KeyCorp reiterated a “hold” rating on shares of Westrock in a report on Monday, January 7th. ValuEngine cut shares of Westrock from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 2nd. Royal Bank of Canada cut shares of Westrock from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 8th. Deutsche Bank cut shares of Westrock from a “buy” rating to a “hold” rating and dropped their target price for the stock from $51.00 to $42.00 in a report on Wednesday. Finally, Citigroup cut shares of Westrock from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $52.00 to $42.00 in a report on Monday, January 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $49.88.
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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