Nippon Life Global Investors Americas Inc. Boosts Position in Westrock Co (NYSE:WRK)

Nippon Life Global Investors Americas Inc. grew its stake in Westrock Co (NYSE:WRK) by 25.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,390 shares of the basic materials company’s stock after buying an additional 10,900 shares during the quarter. Nippon Life Global Investors Americas Inc.’s holdings in Westrock were worth $1,982,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kistler Tiffany Companies LLC purchased a new stake in Westrock in the third quarter worth about $25,000. Rockefeller Capital Management L.P. grew its position in shares of Westrock by 47.6% during the second quarter. Rockefeller Capital Management L.P. now owns 1,042 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 336 shares in the last quarter. Signaturefd LLC grew its position in shares of Westrock by 154.1% during the second quarter. Signaturefd LLC now owns 1,080 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 655 shares in the last quarter. Phocas Financial Corp. purchased a new stake in shares of Westrock during the second quarter worth about $398,000. Finally, SRS Capital Advisors Inc. purchased a new stake in shares of Westrock during the second quarter worth about $48,000. Institutional investors and hedge funds own 82.28% of the company’s stock.

Westrock stock traded down $0.07 during midday trading on Tuesday, reaching $37.05. 8,998 shares of the stock traded hands, compared to its average volume of 2,279,152. The stock’s fifty day moving average is $35.90 and its 200-day moving average is $36.10. Westrock Co has a 12 month low of $31.94 and a 12 month high of $48.55. The stock has a market cap of $9.45 billion, a P/E ratio of 9.08, a PEG ratio of 2.43 and a beta of 1.62. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.82.

Westrock (NYSE:WRK) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.09. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.83 billion. Westrock had a return on equity of 8.97% and a net margin of 4.65%. The firm’s revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. On average, equities analysts predict that Westrock Co will post 3.93 EPS for the current fiscal year.

In other news, Director John A. Luke, Jr. sold 20,603 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $38.68, for a total value of $796,924.04. Also, Director John A. Luke, Jr. sold 103,015 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $38.00, for a total value of $3,914,570.00. Insiders sold a total of 185,427 shares of company stock valued at $7,060,236 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Several analysts recently issued reports on the company. Citigroup cut their target price on Westrock from $39.00 to $38.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. UBS Group set a $44.00 target price on Westrock and gave the stock a “buy” rating in a research report on Monday, June 24th. Zacks Investment Research cut Westrock from a “hold” rating to a “sell” rating and set a $39.00 target price for the company. in a research report on Monday, October 14th. ValuEngine cut Westrock from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Finally, KeyCorp reiterated a “sell” rating and set a $32.00 target price on shares of Westrock in a research report on Monday, September 23rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $43.67.

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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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