GABELLI & Co INVESTMENT ADVISERS INC. Has $10.52 Million Position in WestRock (NYSE:WRK)

GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of WestRock (NYSE:WRKFree Report) by 442.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 253,245 shares of the basic materials company’s stock after buying an additional 206,565 shares during the period. WestRock makes up about 2.0% of GABELLI & Co INVESTMENT ADVISERS INC.’s holdings, making the stock its 14th largest holding. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in WestRock were worth $10,515,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of WRK. Norges Bank bought a new stake in WestRock during the fourth quarter worth about $198,063,000. Pentwater Capital Management LP acquired a new position in shares of WestRock during the 3rd quarter worth approximately $61,378,000. KRYGER CAPITAL Ltd bought a new stake in shares of WestRock during the 4th quarter worth approximately $55,228,000. FMR LLC grew its stake in shares of WestRock by 140.3% in the third quarter. FMR LLC now owns 2,173,923 shares of the basic materials company’s stock valued at $77,826,000 after buying an additional 1,269,375 shares in the last quarter. Finally, Segantii Capital Management Ltd increased its holdings in WestRock by 75.2% during the fourth quarter. Segantii Capital Management Ltd now owns 2,907,561 shares of the basic materials company’s stock worth $120,722,000 after buying an additional 1,247,561 shares during the last quarter. Institutional investors own 83.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WRK shares. StockNews.com initiated coverage on shares of WestRock in a research report on Saturday, May 18th. They issued a “hold” rating for the company. Truist Financial upped their price objective on WestRock from $51.00 to $57.00 and gave the company a “hold” rating in a research note on Thursday, May 30th. Argus raised their price target on WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Wells Fargo & Company raised their target price on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.80.

Check Out Our Latest Report on WRK

WestRock Stock Performance

Shares of WRK stock traded down $1.36 on Thursday, hitting $52.24. The company’s stock had a trading volume of 2,068,543 shares, compared to its average volume of 2,182,760. WestRock has a fifty-two week low of $27.12 and a fifty-two week high of $54.83. The company has a market capitalization of $13.43 billion, a PE ratio of 43.97, a PEG ratio of 3.42 and a beta of 1.08. The stock’s 50 day moving average is $50.50 and its 200-day moving average is $45.38. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.85 and a current ratio of 1.34.

WestRock (NYSE:WRKGet Free Report) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.25 by $0.14. The company had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.75 billion. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. Equities research analysts expect that WestRock will post 2.11 earnings per share for the current fiscal year.

WestRock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were given a dividend of $0.3025 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.21 annualized dividend and a yield of 2.32%. WestRock’s dividend payout ratio is 101.68%.

Insider Buying and Selling at WestRock

In other news, insider John L. O’neal sold 6,965 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.47, for a total transaction of $358,488.55. Following the completion of the sale, the insider now owns 60,491 shares of the company’s stock, valued at approximately $3,113,471.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other WestRock news, insider John L. O’neal sold 6,965 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $51.47, for a total value of $358,488.55. Following the sale, the insider now owns 60,491 shares in the company, valued at $3,113,471.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Denise R. Singleton sold 9,700 shares of WestRock stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $51.46, for a total value of $499,162.00. Following the sale, the executive vice president now directly owns 74,946 shares in the company, valued at $3,856,721.16. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

WestRock Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for WestRock (NYSE:WRK)

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