WestRock (NYSE:WRK) Shares Bought by abrdn plc

abrdn plc lifted its position in shares of WestRock (NYSE:WRK - Free Report) by 64.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,954 shares of the basic materials company's stock after buying an additional 43,910 shares during the period. abrdn plc's holdings in WestRock were worth $4,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of WestRock by 2.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,954,114 shares of the basic materials company's stock worth $105,757,000 after buying an additional 74,185 shares during the last quarter. Northern Trust Corp increased its holdings in shares of WestRock by 11.4% during the 3rd quarter. Northern Trust Corp now owns 2,696,898 shares of the basic materials company's stock worth $96,549,000 after buying an additional 275,033 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of WestRock by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,552,490 shares of the basic materials company's stock worth $91,379,000 after buying an additional 78,818 shares during the last quarter. FMR LLC increased its holdings in shares of WestRock by 140.3% during the 3rd quarter. FMR LLC now owns 2,173,923 shares of the basic materials company's stock worth $77,826,000 after buying an additional 1,269,375 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in WestRock by 70.4% in the 3rd quarter. Deutsche Bank AG now owns 1,825,189 shares of the basic materials company's stock valued at $65,342,000 after purchasing an additional 753,828 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company's stock.

Insider Transactions at WestRock

In other news, insider Vicki L. Lostetter sold 3,500 shares of WestRock stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the completion of the sale, the insider now directly owns 92,117 shares of the company's stock, valued at approximately $3,939,844.09. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.49% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on WRK shares. Seaport Res Ptn downgraded shares of WestRock from a "buy" rating to a "neutral" rating in a report on Monday, January 29th. Truist Financial lifted their target price on shares of WestRock from $40.00 to $48.00 and gave the company a "hold" rating in a report on Thursday, January 4th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $45.00 target price (up previously from $42.00) on shares of WestRock in a report on Thursday, January 11th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $42.00 target price on shares of WestRock in a report on Friday, February 2nd. Finally, StockNews.com started coverage on shares of WestRock in a report on Wednesday. They issued a "hold" rating for the company. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $43.00.

WestRock Stock Up 0.9 %

WRK stock traded up $0.44 during midday trading on Friday, hitting $47.25. The company's stock had a trading volume of 1,823,495 shares, compared to its average volume of 1,868,743. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81. WestRock has a 52-week low of $26.85 and a 52-week high of $49.67. The firm has a market capitalization of $12.20 billion, a P/E ratio of -7.03, a PEG ratio of 4.41 and a beta of 1.10. The firm has a 50-day simple moving average of $47.18 and a 200-day simple moving average of $42.34.

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

About WestRock

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.