Intact Investment Management Inc. Sells 3,000 Shares of WestRock (NYSE:WRK)

Intact Investment Management Inc. reduced its holdings in shares of WestRock (NYSE:WRK) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 78,800 shares of the basic materials company’s stock after selling 3,000 shares during the quarter. Intact Investment Management Inc.’s holdings in WestRock were worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. NBC Securities Inc. bought a new stake in shares of WestRock in the third quarter valued at $27,000. International Assets Investment Management LLC raised its stake 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 buying an additional 575 shares during the period. Clear Street Markets LLC raised its stake 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 buying an additional 665 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of WestRock by 59.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock valued at $36,000 after buying an additional 320 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of WestRock in the fourth quarter valued at $55,000. 83.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Vicki L. Lostetter sold 3,500 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $42.77, for a total value of $149,695.00. Following the completion of the transaction, the insider now directly owns 92,117 shares in the company, valued at approximately $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 traded up $0.44 during midday trading on Friday, reaching $47.25. 1,823,495 shares of the company traded hands, compared to its average volume of 1,868,743. WestRock has a 12 month low of $26.85 and a 12 month high of $49.67. The firm’s fifty day moving average price is $47.18 and its two-hundred day moving average price is $42.34. The company has a quick ratio of 0.95, a current ratio of 1.55 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $12.20 billion, a price-to-earnings ratio of -7.03, a price-to-earnings-growth ratio of 4.41 and a beta of 1.10.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WRK. StockNews.com began coverage on WestRock in a research note on Wednesday. They issued a “hold” rating on the stock. Wells Fargo & Company restated an “equal weight” rating and issued a $45.00 target price (up from $42.00) on shares of WestRock in a research note on Thursday, January 11th. Seaport Res Ptn lowered WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 price objective on shares of WestRock in a research note on Friday, February 2nd. Finally, Truist Financial boosted their price objective on WestRock from $40.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.