DNB Asset Management AS Sells 3,632 Shares of Westrock Co (WRK)

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DNB Asset Management AS lowered its position in shares of Westrock Co (NYSE:WRK) by 8.0% in the first quarter, Holdings Channel reports. The fund owned 41,628 shares of the basic materials company’s stock after selling 3,632 shares during the period. DNB Asset Management AS’s holdings in Westrock were worth $1,596,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Westrock by 12.3% during the 4th quarter. BlackRock Inc. now owns 22,410,471 shares of the basic materials company’s stock worth $846,221,000 after acquiring an additional 2,445,795 shares during the last quarter. American Century Companies Inc. boosted its position in Westrock by 11.4% during the 4th quarter. American Century Companies Inc. now owns 6,378,609 shares of the basic materials company’s stock worth $240,856,000 after acquiring an additional 652,024 shares during the last quarter. LSV Asset Management boosted its position in Westrock by 333.2% during the 4th quarter. LSV Asset Management now owns 5,851,396 shares of the basic materials company’s stock worth $220,948,000 after acquiring an additional 4,500,770 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in Westrock by 4,262.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,767,164 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 3,680,813 shares during the last quarter. Finally, Norges Bank acquired a new position in Westrock during the 4th quarter worth approximately $141,233,000. 87.80% of the stock is owned by hedge funds and other institutional investors.

Shares of Westrock stock opened at $35.50 on Thursday. Westrock Co has a 1 year low of $35.20 and a 1 year high of $67.01. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 8.68, a price-to-earnings-growth ratio of 1.73 and a beta of 1.61. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.40 and a quick ratio of 0.84.

Westrock (NYSE:WRK) last announced its quarterly earnings results on Thursday, January 31st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. Westrock had a return on equity of 9.12% and a net margin of 5.44%. The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.58 billion. On average, sell-side analysts forecast that Westrock Co will post 3.94 EPS for the current fiscal year.

A number of equities analysts have weighed in on the company. Deutsche Bank downgraded Westrock from a “buy” rating to a “hold” rating and reduced their price target for the stock from $51.00 to $42.00 in a research report on Wednesday. Royal Bank of Canada downgraded Westrock from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 8th. KeyCorp reissued a “hold” rating on shares of Westrock in a report on Monday, January 7th. ValuEngine downgraded Westrock from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 2nd. Finally, Barclays downgraded Westrock from a “buy” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $42.00 in a report on Monday, January 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. Westrock presently has an average rating of “Hold” and an average target price of $49.88.

In other Westrock news, CFO Ward H. Dickson acquired 2,645 shares of Westrock stock in a transaction that occurred on Monday, February 4th. The shares were acquired at an average cost of $37.94 per share, with a total value of $100,351.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Currey M. Russell acquired 5,000 shares of Westrock stock in a transaction that occurred on Thursday, February 28th. The stock was acquired at an average cost of $37.50 per share, for a total transaction of $187,500.00. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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