abrdn plc Acquires 43,910 Shares of WestRock (NYSE:WRK)

abrdn plc grew its position in WestRock (NYSE:WRK) by 64.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,954 shares of the basic materials company’s stock after purchasing an additional 43,910 shares during the period. abrdn plc’s holdings in WestRock were worth $4,648,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. bought a new stake in shares of WestRock in the third quarter valued at about $27,000. International Assets Investment Management LLC lifted its holdings in shares of WestRock by 268.7% in the fourth quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 575 shares in the last quarter. Clear Street Markets LLC lifted its holdings in shares of WestRock by 198.5% in the third quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 665 shares in the last quarter. CVA Family Office LLC bought a new stake in shares of WestRock in the fourth quarter valued at about $60,000. Finally, Baystate Wealth Management LLC lifted its holdings in shares of WestRock by 42.3% in the fourth quarter. Baystate Wealth Management LLC now owns 1,700 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 505 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Vicki L. Lostetter sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.77, for a total value of $149,695.00. Following the transaction, the insider now owns 92,117 shares of the company’s stock, valued at $3,939,844.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.49% of the stock is owned by company insiders.

WestRock Stock Performance

Shares of NYSE WRK opened at $47.25 on Friday. The business’s 50 day moving average price is $47.18 and its two-hundred day moving average price is $42.30. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.55 and a quick ratio of 0.95. WestRock has a twelve month low of $26.85 and a twelve month high of $49.67.

WestRock (NYSE:WRK) last announced its quarterly earnings results on Thursday, February 1st. The basic materials company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.15). The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.79 billion. WestRock had a positive return on equity of 6.87% and a negative net margin of 8.58%. WestRock’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. Analysts predict that WestRock will post 1.93 EPS for the current year.

Wall Street Analysts Forecast Growth

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

WestRock Company Profile

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.