Sippican Capital Advisors increased its holdings in shares of Westrock Co (NYSE:WRK) by 55.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,890 shares of the basic materials company’s stock after acquiring an additional 12,475 shares during the quarter. Westrock comprises 1.6% of Sippican Capital Advisors’ investment portfolio, making the stock its 19th biggest position. Sippican Capital Advisors’ holdings in Westrock were worth $1,338,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Northpointe Capital LLC raised its stake in Westrock by 105.0% during the first quarter. Northpointe Capital LLC now owns 67,851 shares of the basic materials company’s stock worth $2,602,000 after purchasing an additional 34,755 shares during the period. Trilogy Capital Inc. acquired a new stake in shares of Westrock in the first quarter worth approximately $539,000. Leavell Investment Management Inc. boosted its position in shares of Westrock by 4.5% in the first quarter. Leavell Investment Management Inc. now owns 7,171 shares of the basic materials company’s stock worth $275,000 after acquiring an additional 312 shares during the last quarter. Pennsylvania Trust Co acquired a new stake in shares of Westrock in the first quarter worth approximately $3,531,000. Finally, Salem Capital Management Inc. raised its holdings in Westrock by 49.5% in the first quarter. Salem Capital Management Inc. now owns 126,225 shares of the basic materials company’s stock valued at $4,841,000 after buying an additional 41,766 shares during the period. 87.80% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on WRK shares. Deutsche Bank lowered shares of Westrock from a “buy” rating to a “hold” rating and dropped their price objective for the company from $51.00 to $42.00 in a research note on Wednesday. KeyCorp reiterated a “hold” rating on shares of Westrock in a research note on Thursday, December 20th. Citigroup lowered shares of Westrock from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $52.00 to $42.00 in a research note on Monday, January 7th. ValuEngine lowered shares of Westrock from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 2nd. Finally, Royal Bank of Canada lowered shares of Westrock from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Westrock presently has an average rating of “Hold” and an average price target of $49.88.
Shares of NYSE:WRK traded down $0.89 during midday trading on Wednesday, reaching $35.99. The company had a trading volume of 1,028,761 shares, compared to its average volume of 2,302,830. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.84. The firm has a market cap of $9.42 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 1.73 and a beta of 1.61. Westrock Co has a one year low of $35.20 and a one year high of $67.01.
Westrock (NYSE:WRK) last issued its quarterly earnings results on Thursday, January 31st. The basic materials company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $4.33 billion during the quarter, compared to analyst estimates of $4.58 billion. Westrock had a net margin of 5.44% and a return on equity of 9.12%. As a group, equities research analysts forecast that Westrock Co will post 3.94 EPS for the current fiscal year.
In other Westrock news, Director Currey M. Russell acquired 5,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was purchased at an average price of $37.50 per share, with a total value of $187,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ward H. Dickson acquired 2,645 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was acquired 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 currently owned by insiders.
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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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