Meghalaya Partners L.P. decreased its stake in WestRock Co (NYSE:WRK) by 5.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 262,500 shares of the basic materials company’s stock after selling 15,000 shares during the quarter. WestRock makes up 8.8% of Meghalaya Partners L.P.’s holdings, making the stock its 5th largest position. Meghalaya Partners L.P. owned about 0.10% of WestRock worth $16,845,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WRK. Assetmark Inc. raised its holdings in WestRock by 672.6% in the 4th quarter. Assetmark Inc. now owns 1,661 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 1,446 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of WestRock by 1,225.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,107 shares of the basic materials company’s stock valued at $133,000 after acquiring an additional 1,948 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of WestRock during the first quarter valued at approximately $145,000. Synovus Financial Corp acquired a new position in shares of WestRock during the first quarter valued at approximately $147,000. Finally, Focused Wealth Management Inc purchased a new stake in shares of WestRock in the first quarter valued at approximately $176,000. 86.88% of the stock is owned by institutional investors.
Shares of WRK stock traded down $0.60 during trading hours on Friday, reaching $59.90. The company had a trading volume of 20,200 shares, compared to its average volume of 1,515,948. The firm has a market capitalization of $15.52 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.39. WestRock Co has a 12-month low of $54.05 and a 12-month high of $71.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.37 and a quick ratio of 0.80.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered WestRock from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 5th. KeyCorp restated a “hold” rating on shares of WestRock in a research report on Friday, April 27th. ValuEngine lowered WestRock from a “buy” rating to a “hold” rating in a research report on Friday, April 27th. Finally, Citigroup dropped their price target on WestRock from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, April 5th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $75.90.
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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