Tokio Marine Asset Management Co. Ltd. Increases Holdings in WestRock (NYSE:WRK)

Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of WestRock (NYSE:WRK) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,504 shares of the basic materials company’s stock after buying an additional 761 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in WestRock were worth $353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. purchased a new stake in WestRock in the 3rd quarter worth about $27,000. International Assets Investment Management LLC raised its position in WestRock by 268.7% in the 4th quarter. International Assets Investment Management LLC now owns 789 shares of the basic materials company’s stock worth $33,000 after purchasing an additional 575 shares during the period. Parkside Financial Bank & Trust raised its position in WestRock by 59.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 862 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 320 shares during the period. Clear Street Markets LLC raised its position in WestRock by 198.5% in the 3rd quarter. Clear Street Markets LLC now owns 1,000 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 665 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in WestRock in the 4th quarter worth about $55,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

WestRock Stock Up 0.9 %

NYSE WRK opened at $47.25 on Monday. The company has a current ratio of 1.55, a quick ratio of 0.95 and a debt-to-equity ratio of 0.81. The firm’s 50 day moving average price is $47.18 and its 200-day moving average price is $42.38. WestRock has a 52-week low of $26.85 and a 52-week high of $49.67.

WestRock (NYSE:WRK) last released its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. WestRock’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities analysts forecast that WestRock will post 1.93 EPS for the current year.

Insider Activity

In other news, insider Vicki L. Lostetter sold 3,500 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.77, for a total transaction of $149,695.00. Following the transaction, the insider now directly owns 92,117 shares in the company, valued at $3,939,844.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

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

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.