Silvercrest Asset Management Group LLC Trims Position in WestRock (NYSE:WRK)

Silvercrest Asset Management Group LLC lessened its stake in WestRock (NYSE:WRK) by 1.7% during the 1st quarter, HoldingsChannel reports. 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in WestRock by 268.7% during the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 575 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new position in WestRock during the 4th quarter worth about $35,000. Parkside Financial Bank & Trust grew its holdings in WestRock by 59.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 320 shares in the last quarter. First United Bank & Trust bought a new position in WestRock during the 4th quarter worth about $43,000. Finally, Headlands Technologies LLC bought a new position in WestRock during the 1st quarter worth about $44,000. 83.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

WestRock Stock Up 3.5 %

NYSE:WRK opened at $51.51 on Wednesday. WestRock has a fifty-two week low of $27.86 and a fifty-two week high of $54.83. The stock has a market capitalization of $13.24 billion, a P/E ratio of 43.29, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.85 and a current ratio of 1.34. The company’s 50-day simple moving average is $51.47 and its 200-day simple moving average is $48.11.

WestRock (NYSE:WRK) last released its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.14. The business 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 company’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. On average, equities analysts anticipate that WestRock will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on WRK shares. Truist Financial increased 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. Wells Fargo & Company increased their target price 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. Argus raised their price target on shares of WestRock from $50.00 to $57.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, StockNews.com assumed 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.75.

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.