Louisiana State Employees Retirement System Makes New $644,000 Investment in WestRock (NYSE:WRK)

Louisiana State Employees Retirement System purchased a new position in shares of WestRock (NYSE:WRK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,500 shares of the basic materials company’s stock, valued at approximately $644,000.

A number of other institutional investors have also recently bought and sold shares of the business. Baystate Wealth Management LLC increased its position in WestRock by 42.3% during the fourth quarter. Baystate Wealth Management LLC now owns 1,700 shares of the basic materials company’s stock worth $71,000 after buying an additional 505 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of WestRock by 23.0% during the fourth quarter. Cerity Partners LLC now owns 18,589 shares of the basic materials company’s stock worth $772,000 after acquiring an additional 3,482 shares during the period. Custom Index Systems LLC acquired a new position in shares of WestRock in the fourth quarter valued at approximately $337,000. RFG Advisory LLC grew its position in shares of WestRock by 43.7% in the fourth quarter. RFG Advisory LLC now owns 24,120 shares of the basic materials company’s stock valued at $1,001,000 after purchasing an additional 7,337 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV grew its position in shares of WestRock by 20.0% in the fourth quarter. Mainstay Capital Management LLC ADV now owns 37,497 shares of the basic materials company’s stock valued at $1,557,000 after purchasing an additional 6,239 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

Insider Activity at WestRock

In other WestRock news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.77, for a total value of $149,695.00. Following the transaction, the insider now owns 92,117 shares in the company, valued at $3,939,844.09. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.49% of the stock is owned by insiders.

WestRock Stock Up 0.9 %

WRK stock opened at $47.25 on Monday. The company has a market cap of $12.20 billion, a PE ratio of -7.03, a price-to-earnings-growth ratio of 4.41 and a beta of 1.10. The business has a 50-day simple moving average of $47.18 and a 200 day simple moving average of $42.38. WestRock has a 52 week low of $26.85 and a 52 week 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.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com assumed coverage on WestRock in a research report on Wednesday, April 24th. They set a “hold” rating on the stock. Truist Financial lifted their target price on WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a report on Thursday, January 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 target price on shares of WestRock in a report on Friday, February 2nd. Seaport Res Ptn downgraded WestRock from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $45.00 target price (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $43.00.

About WestRock

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.