Silvercrest Asset Management Group LLC Reduces Stake in WestRock (NYSE:WRK)

Silvercrest Asset Management Group LLC reduced its holdings in shares of WestRock (NYSE:WRK) by 1.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,000 shares of the basic materials company’s stock after selling 396 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in WestRock were worth $1,137,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WRK. Mirae Asset Global Investments Co. Ltd. increased its holdings in WestRock by 94.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,355 shares of the basic materials company’s stock worth $3,182,000 after acquiring an additional 31,321 shares during the period. KRYGER CAPITAL Ltd bought a new stake in WestRock during the 4th quarter worth approximately $55,228,000. Eisler Capital UK Ltd. bought a new stake in WestRock during the 4th quarter worth approximately $9,961,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its holdings in WestRock by 442.5% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 253,245 shares of the basic materials company’s stock worth $10,515,000 after acquiring an additional 206,565 shares during the period. Finally, Segantii Capital Management Ltd increased its holdings in WestRock by 75.2% during the 4th quarter. Segantii Capital Management Ltd now owns 2,907,561 shares of the basic materials company’s stock worth $120,722,000 after acquiring an additional 1,247,561 shares during the period. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Truist Financial upped their target price on shares of WestRock from $51.00 to $57.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Argus increased their price target on shares of WestRock from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Wells Fargo & Company increased their price target on shares of WestRock from $46.00 to $51.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Finally, StockNews.com initiated coverage on shares of WestRock in a report on Wednesday, July 24th. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, WestRock currently has an average rating of “Hold” and an average target price of $51.75.

WestRock Price Performance

Shares of NYSE:WRK opened at $51.51 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.34 and a quick ratio of 0.85. WestRock has a one year low of $27.86 and a one year high of $54.83. The company’s fifty day moving average price is $51.47 and its 200-day moving average price is $48.11. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of 43.29, a PEG ratio of 2.13 and a beta of 1.05.

WestRock (NYSE:WRK) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.25 by $0.14. WestRock had a net margin of 1.57% and a return on equity of 5.85%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.75 billion. During the same quarter last year, the firm earned $0.77 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, equities research analysts anticipate that WestRock will post 2.16 earnings per share for the current fiscal year.

Insider Activity at WestRock

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

About WestRock

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.