Wealthfront Advisers LLC Increases Position in Westrock Co (NYSE:WRK)

Share on StockTwits

Wealthfront Advisers LLC increased its stake in Westrock Co (NYSE:WRK) by 22.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,251 shares of the basic materials company’s stock after purchasing an additional 5,439 shares during the quarter. Wealthfront Advisers LLC’s holdings in Westrock were worth $1,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in WRK. Kistler Tiffany Companies LLC purchased a new position in shares of Westrock in the 3rd quarter valued at about $25,000. Allred Capital Management LLC purchased a new position in shares of Westrock in the 4th quarter valued at about $29,000. Huntington National Bank increased its holdings in shares of Westrock by 1,394.1% in the 4th quarter. Huntington National Bank now owns 762 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 711 shares in the last quarter. Phocas Financial Corp. purchased a new position in shares of Westrock in the 2nd quarter valued at about $40,000. Finally, CSat Investment Advisory L.P. increased its holdings in shares of Westrock by 82.4% in the 2nd quarter. CSat Investment Advisory L.P. now owns 1,450 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 655 shares in the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.

In other news, Director John A. Luke, Jr. sold 188,659 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $40.67, for a total transaction of $7,672,761.53. Following the transaction, the director now directly owns 689,418 shares in the company, valued at approximately $28,038,630.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James B. Porter sold 25,753 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $40.04, for a total transaction of $1,031,150.12. Following the transaction, the insider now owns 47,119 shares in the company, valued at $1,886,644.76. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 300 shares of company stock worth $12,467 and have sold 255,618 shares worth $10,378,523. Corporate insiders own 1.92% of the company’s stock.

Westrock stock opened at $42.05 on Friday. Westrock Co has a 12-month low of $31.94 and a 12-month high of $44.39. The stock has a market capitalization of $10.74 billion, a P/E ratio of 12.59, a P/E/G ratio of 2.98 and a beta of 1.64. The firm’s 50-day moving average is $42.22 and its two-hundred day moving average is $38.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.45 and a quick ratio of 0.83.

Westrock (NYSE:WRK) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.05. The company had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Westrock had a net margin of 4.72% and a return on equity of 8.81%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.29 EPS. As a group, analysts forecast that Westrock Co will post 3.27 EPS for the current year.

A number of equities analysts have recently issued reports on the stock. Bank of America upgraded shares of Westrock from a “neutral” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, November 18th. KeyCorp reissued a “sell” rating and issued a $34.00 price objective on shares of Westrock in a research note on Thursday, November 7th. ValuEngine raised shares of Westrock from a “sell” rating to a “hold” rating in a research note on Tuesday. Exane BNP Paribas started coverage on shares of Westrock in a research note on Monday, December 2nd. They issued an “outperform” rating and a $48.00 price objective on the stock. Finally, Citigroup raised shares of Westrock from a “neutral” rating to a “buy” rating and increased their price objective for the company from $38.00 to $48.00 in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. Westrock has a consensus rating of “Hold” and a consensus target price of $44.78.

About Westrock

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.

See Also: Balance Sheet

Want to see what other hedge funds are holding WRK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Westrock Co (NYSE:WRK).

Institutional Ownership by Quarter for Westrock (NYSE:WRK)

Receive News & Ratings for Westrock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Westrock and related companies with MarketBeat.com's FREE daily email newsletter.