Exane Asset Management Purchases New Holdings in WestRock Co (WRK)
Exane Asset Management purchased a new position in WestRock Co (NYSE:WRK) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,526 shares of the basic materials company’s stock, valued at approximately $201,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. CIBC World Markets Inc. grew its stake in shares of WestRock by 9.4% in the 2nd quarter. CIBC World Markets Inc. now owns 10,969 shares of the basic materials company’s stock valued at $625,000 after buying an additional 940 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in WestRock by 1.9% during the second quarter. Clear Harbor Asset Management LLC now owns 52,032 shares of the basic materials company’s stock worth $2,967,000 after purchasing an additional 990 shares during the period. Mn Services Vermogensbeheer B.V. boosted its position in WestRock by 2.6% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 40,021 shares of the basic materials company’s stock worth $2,568,000 after purchasing an additional 1,000 shares during the period. Greenleaf Trust boosted its position in WestRock by 24.9% during the second quarter. Greenleaf Trust now owns 5,309 shares of the basic materials company’s stock worth $303,000 after purchasing an additional 1,059 shares during the period. Finally, Telemus Capital LLC boosted its position in WestRock by 1.4% during the second quarter. Telemus Capital LLC now owns 85,570 shares of the basic materials company’s stock worth $4,879,000 after purchasing an additional 1,209 shares during the period. Hedge funds and other institutional investors own 85.14% of the company’s stock.
Shares of WRK stock traded up $0.66 during trading hours on Friday, hitting $42.61. 3,368,371 shares of the company’s stock were exchanged, compared to its average volume of 1,757,836. The stock has a market capitalization of $13.63 billion, a PE ratio of 16.26, a PEG ratio of 1.18 and a beta of 1.32. WestRock Co has a 52 week low of $41.86 and a 52 week high of $71.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 1.56.
WRK has been the subject of a number of recent analyst reports. Wells Fargo & Co initiated coverage on WestRock in a research report on Friday, September 21st. They set a “market perform” rating and a $63.00 target price for the company. Zacks Investment Research lowered WestRock from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. Citigroup cut their target price on WestRock from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, July 10th. Barclays cut their target price on WestRock from $64.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, August 9th. Finally, Goldman Sachs Group cut WestRock from a “conviction-buy” rating to a “buy” rating and set a $64.00 price target on the stock. in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $67.73.
WestRock Company manufactures and sells paper and packaging solutions for the consumer and corrugated markets in North America, South America, Europe, Australia, and Asia. The company operates through three segments: Corrugated Packaging, Consumer Packaging, and Land and Development. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for consumer and industrial products manufacturers, and corrugated box manufacturers.
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