Retirement Systems of Alabama Sells 1,438 Shares of WestRock (NYSE:WRK)

Retirement Systems of Alabama cut its stake in WestRock (NYSE:WRK) by 0.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 798,610 shares of the basic materials company’s stock after selling 1,438 shares during the quarter. Retirement Systems of Alabama’s holdings in WestRock were worth $33,158,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its holdings in WestRock by 16.5% in the 4th quarter. Russell Investments Group Ltd. now owns 200,043 shares of the basic materials company’s stock worth $8,335,000 after purchasing an additional 28,395 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in WestRock in the 4th quarter worth $212,000. Truist Financial Corp raised its holdings in WestRock by 81.5% in the 4th quarter. Truist Financial Corp now owns 26,547 shares of the basic materials company’s stock worth $1,102,000 after purchasing an additional 11,920 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in WestRock by 9.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,504 shares of the basic materials company’s stock worth $353,000 after purchasing an additional 761 shares in the last quarter. Finally, GAMMA Investing LLC bought a new position in WestRock in the 4th quarter worth $55,000. 83.38% of the stock is currently owned by institutional investors.

Insider Activity at WestRock

In related news, insider Vicki L. Lostetter sold 3,500 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the sale, the insider now directly owns 92,117 shares of the company’s stock, valued at approximately $3,939,844.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com assumed coverage on shares of WestRock in a report on Wednesday, April 24th. They issued a “hold” rating for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $42.00 price target on shares of WestRock in a research note on Friday, February 2nd. Seaport Res Ptn lowered shares of WestRock from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $45.00 price target (up from $42.00) on shares of WestRock in a research note on Thursday, January 11th. Finally, Truist Financial increased their price target on shares of WestRock from $40.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, January 4th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $43.00.

WestRock Stock Up 2.0 %

Shares of WRK stock opened at $48.19 on Monday. WestRock has a one year low of $26.85 and a one year high of $49.67. The company’s 50-day moving average is $47.18 and its 200 day moving average is $42.38. 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 (NYSE:WRK) last announced its quarterly earnings data 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 negative net margin of 8.58% and a positive return on equity of 6.87%. The firm had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.79 billion. During the same period last year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts forecast that WestRock will post 1.93 earnings per share for the current fiscal year.

WestRock 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.