Xponance Inc. Cuts Stake in WestRock (NYSE:WRK)

Xponance Inc. cut its stake in WestRock (NYSE:WRK) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,705 shares of the basic materials company’s stock after selling 5,845 shares during the period. Xponance Inc.’s holdings in WestRock were worth $3,517,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of WRK. Natixis Advisors L.P. boosted its holdings in WestRock by 14.7% in the first quarter. Natixis Advisors L.P. now owns 39,928 shares of the basic materials company’s stock valued at $1,878,000 after acquiring an additional 5,108 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of WestRock by 21.3% in the 1st quarter. MetLife Investment Management LLC now owns 71,551 shares of the basic materials company’s stock worth $3,365,000 after purchasing an additional 12,559 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of WestRock by 5.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 35,219 shares of the basic materials company’s stock valued at $1,656,000 after purchasing an additional 1,705 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of WestRock by 0.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 208,790 shares of the basic materials company’s stock worth $10,379,000 after purchasing an additional 1,762 shares during the period. Finally, Yousif Capital Management LLC increased its position in WestRock by 0.6% during the 1st quarter. Yousif Capital Management LLC now owns 53,133 shares of the basic materials company’s stock worth $2,499,000 after purchasing an additional 340 shares in the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WRK shares. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $45.00 price target (up from $42.00) on shares of WestRock in a research report on Thursday, January 11th. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Truist Financial increased their price target on WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a report on Thursday, January 4th. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 price objective on shares of WestRock in a research note on Friday, February 2nd. Finally, StockNews.com started coverage on WestRock in a research note on Tuesday, April 16th. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, WestRock currently has an average rating of “Hold” and a consensus target price of $43.00.

Insider Activity

In related news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total value of $149,695.00. Following the completion of the sale, the insider now owns 92,117 shares in the company, valued at $3,939,844.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.49% of the company’s stock.

WestRock Trading Up 0.9 %

WestRock stock opened at $47.99 on Monday. WestRock has a 12-month low of $26.85 and a 12-month high of $49.67. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81. The firm’s fifty day moving average price is $46.74 and its 200 day moving average price is $41.99.

WestRock (NYSE:WRK) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year. Analysts anticipate that WestRock will post 1.93 earnings per share for the current fiscal year.

WestRock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 21st. Shareholders of record on Friday, February 9th were issued a dividend of $0.3025 per share. The ex-dividend date was Thursday, February 8th. This represents a $1.21 annualized dividend and a yield of 2.52%. WestRock’s dividend payout ratio is presently -18.01%.

WestRock Profile

WestRock Company, together with its subsidiaries, provides fiber-based paper and packaging solutions in North America, South America, Europe, Asia, and Australia. It operates through four segments: Corrugated Packaging, Consumer Packaging, Global Paper, and Distribution. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards to consumer and industrial products manufacturers, and corrugated box manufacturers.