Tokio Marine Asset Management Co. Ltd. Increases Stake in WestRock (NYSE:WRK)

Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of WestRock (NYSE:WRK) by 9.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,504 shares of the basic materials company’s stock after purchasing an additional 761 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in WestRock were worth $353,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in WestRock during the 3rd quarter worth approximately $27,000. International Assets Investment Management LLC increased its stake in WestRock by 268.7% during the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after buying an additional 575 shares during the period. Clear Street Markets LLC increased its stake in WestRock by 198.5% during the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock worth $36,000 after buying an additional 665 shares during the period. Parkside Financial Bank & Trust increased its stake in WestRock by 59.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after buying an additional 320 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in WestRock during the 4th quarter worth approximately $55,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

WestRock Trading Up 0.9 %

Shares of WestRock stock opened at $47.25 on Monday. The company has a fifty day simple moving average of $47.18 and a 200-day simple moving average of $42.38. WestRock has a 12-month low of $26.85 and a 12-month high of $49.67. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.95 and a current ratio of 1.55.

WestRock (NYSE:WRK) last issued its earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.15). WestRock had a negative net margin of 8.58% and a positive return on equity of 6.87%. The company had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.79 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The company’s quarterly revenue was down 6.2% on a year-over-year basis. As a group, equities analysts expect that WestRock will post 1.93 earnings per share for the current year.

Insider Activity

In other news, insider Vicki L. Lostetter sold 3,500 shares of the company’s 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 transaction, the insider now owns 92,117 shares in the company, valued at approximately $3,939,844.09. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.49% of the company’s stock.

WestRock Company 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.