Sage Capital Advisors llc Buys Shares of 83,434 Westrock Co (NYSE:WRK)

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Sage Capital Advisors llc bought a new stake in shares of Westrock Co (NYSE:WRK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 83,434 shares of the basic materials company’s stock, valued at approximately $3,580,000. Westrock makes up approximately 2.3% of Sage Capital Advisors llc’s investment portfolio, making the stock its 11th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen Asset Management LLC increased its stake in Westrock by 5,977.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,764,481 shares of the basic materials company’s stock valued at $64,350,000 after purchasing an additional 1,735,449 shares in the last quarter. Invesco Ltd. lifted its stake in Westrock by 77.0% in the 2nd quarter. Invesco Ltd. now owns 3,772,027 shares of the basic materials company’s stock valued at $137,566,000 after buying an additional 1,640,518 shares in the last quarter. Pictet Asset Management Ltd. lifted its stake in Westrock by 50.1% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,396,181 shares of the basic materials company’s stock valued at $87,341,000 after buying an additional 799,557 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Westrock by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 29,178,346 shares of the basic materials company’s stock worth $1,064,134,000 after buying an additional 482,964 shares during the last quarter. Finally, Strs Ohio boosted its holdings in Westrock by 544.8% in the 3rd quarter. Strs Ohio now owns 503,638 shares of the basic materials company’s stock worth $18,357,000 after buying an additional 425,532 shares during the last quarter. 80.78% of the stock is owned by institutional investors and hedge funds.

In other Westrock news, insider James B. Porter sold 25,753 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $40.04, for a total transaction of $1,031,150.12. Following the transaction, the insider now owns 47,119 shares in the company, valued at approximately $1,886,644.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Luke, Jr. sold 188,659 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $40.67, for a total value of $7,672,761.53. Following the transaction, the director now directly owns 689,418 shares of the company’s stock, valued at $28,038,630.06. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 300 shares of company stock worth $12,467 and sold 255,618 shares worth $10,378,523. 1.92% of the stock is currently owned by insiders.

A number of equities analysts have commented on WRK shares. Citigroup raised Westrock from a “neutral” rating to a “buy” rating and increased their target price for the company from $38.00 to $48.00 in a report on Monday, January 6th. Wells Fargo & Co upgraded shares of Westrock from an “equal weight” rating to an “overweight” rating and set a $52.00 price target for the company in a research note on Thursday, January 2nd. TheStreet raised Westrock from a “c+” rating to a “b-” rating in a research report on Tuesday, December 31st. ValuEngine cut Westrock from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th. Finally, Bank of America raised Westrock from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.78.

NYSE WRK traded up $0.33 during trading on Thursday, reaching $42.98. 58,986 shares of the company’s stock were exchanged, compared to its average volume of 2,223,857. The stock has a market cap of $11.00 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 3.03 and a beta of 1.64. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.83 and a current ratio of 1.45. The company has a 50 day moving average price of $41.74 and a two-hundred day moving average price of $37.78. Westrock Co has a 1 year low of $31.94 and a 1 year high of $44.39.

Westrock (NYSE:WRK) last released its quarterly earnings data on Thursday, November 7th. The basic materials company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.05. The business had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.84 billion. Westrock had a return on equity of 8.81% and a net margin of 4.72%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 EPS. Research analysts forecast that Westrock Co will post 3.29 EPS for the current fiscal year.

About Westrock

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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Institutional Ownership by Quarter for Westrock (NYSE:WRK)

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