Candriam Luxembourg S.C.A. lessened its stake in WestRock Co (NYSE:WRK) by 75.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,415 shares of the basic materials company’s stock after selling 72,333 shares during the period. Candriam Luxembourg S.C.A.’s holdings in WestRock were worth $1,503,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in WRK. SG Americas Securities LLC lifted its position in shares of WestRock by 31.2% during the 4th quarter. SG Americas Securities LLC now owns 22,885 shares of the basic materials company’s stock valued at $1,447,000 after buying an additional 5,445 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in WestRock by 3.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 50,663 shares of the basic materials company’s stock valued at $3,202,000 after purchasing an additional 1,691 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in WestRock by 14.9% in the 4th quarter. Flinton Capital Management LLC now owns 135,212 shares of the basic materials company’s stock valued at $8,547,000 after purchasing an additional 17,584 shares in the last quarter. Suntrust Banks Inc. lifted its holdings in WestRock by 14.0% in the 4th quarter. Suntrust Banks Inc. now owns 98,109 shares of the basic materials company’s stock valued at $6,200,000 after purchasing an additional 12,076 shares in the last quarter. Finally, Lakewood Capital Management LP lifted its holdings in WestRock by 8.1% in the 4th quarter. Lakewood Capital Management LP now owns 2,184,372 shares of the basic materials company’s stock valued at $138,074,000 after purchasing an additional 163,000 shares in the last quarter. Institutional investors and hedge funds own 86.88% of the company’s stock.
A number of research analysts have weighed in on the company. Zacks Investment Research lowered WestRock from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 5th. Citigroup cut their target price on WestRock from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, April 5th. KeyCorp reissued a “hold” rating on shares of WestRock in a research report on Friday, April 27th. Finally, ValuEngine downgraded WestRock from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $75.90.
WestRock (NYSE:WRK) last released its quarterly earnings results on Friday, April 27th. The basic materials company reported $0.83 EPS for the quarter, hitting the consensus estimate of $0.83. The company had revenue of $4.02 billion for the quarter, compared to analyst estimates of $4.10 billion. WestRock had a return on equity of 7.84% and a net margin of 12.01%. The firm’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. equities analysts predict that WestRock Co will post 4.04 earnings per share for the current fiscal year.
WestRock Company Profile
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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