Westrock Co (WRK) Position Raised by Sippican Capital Advisors

Sippican Capital Advisors boosted its holdings in Westrock Co (NYSE:WRK) by 55.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,890 shares of the basic materials company’s stock after acquiring an additional 12,475 shares during the quarter. Westrock comprises about 1.6% of Sippican Capital Advisors’ investment portfolio, making the stock its 19th biggest holding. Sippican Capital Advisors’ holdings in Westrock were worth $1,338,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WRK. CI Investments Inc. raised its stake in shares of Westrock by 4.6% in the third quarter. CI Investments Inc. now owns 639,000 shares of the basic materials company’s stock valued at $34,148,000 after purchasing an additional 28,000 shares in the last quarter. Standard Life Aberdeen plc boosted its holdings in shares of Westrock by 0.4% in the third quarter. Standard Life Aberdeen plc now owns 314,894 shares of the basic materials company’s stock worth $16,830,000 after acquiring an additional 1,146 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Westrock in the third quarter worth $789,000. Allianz Asset Management GmbH raised its position in shares of Westrock by 39.1% in the third quarter. Allianz Asset Management GmbH now owns 52,613 shares of the basic materials company’s stock worth $2,811,000 after buying an additional 14,787 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Westrock in the third quarter worth $30,186,000. Hedge funds and other institutional investors own 87.80% of the company’s stock.

In related news, Director Currey M. Russell purchased 5,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was acquired at an average price of $37.50 per share, with a total value of $187,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ward H. Dickson purchased 2,645 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was bought at an average cost of $37.94 per share, with a total value of $100,351.30. The disclosure for this purchase can be found here. 2.00% of the stock is owned by corporate insiders.

A number of research firms have weighed in on WRK. Citigroup downgraded Westrock from a “buy” rating to a “neutral” rating and lowered their price target for the company from $52.00 to $42.00 in a research report on Monday, January 7th. KeyCorp restated a “hold” rating on shares of Westrock in a research report on Thursday, December 20th. Barclays downgraded Westrock from a “buy” rating to a “neutral” rating and lowered their price target for the company from $52.00 to $42.00 in a research report on Monday, January 7th. ValuEngine downgraded Westrock from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 2nd. Finally, Royal Bank of Canada downgraded Westrock from an “outperform” rating to a “sector perform” rating in a report on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Westrock presently has an average rating of “Hold” and an average price target of $49.88.

NYSE WRK traded down $0.89 during mid-day trading on Wednesday, reaching $35.99. The stock had a trading volume of 1,028,761 shares, compared to its average volume of 2,302,830. The firm has a market cap of $9.42 billion, a P/E ratio of 8.80, a PEG ratio of 1.73 and a beta of 1.61. The company has a quick ratio of 0.84, a current ratio of 1.40 and a debt-to-equity ratio of 0.84. Westrock Co has a 1 year low of $35.20 and a 1 year high of $67.01.

Westrock (NYSE:WRK) last issued its quarterly earnings data on Thursday, January 31st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Westrock had a net margin of 5.44% and a return on equity of 9.12%. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.58 billion. As a group, equities analysts expect that Westrock Co will post 3.94 earnings per share for the current fiscal year.

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Westrock 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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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