Canal Capital Management LLC Sells 7,618 Shares of Westrock Co (WRK)

Canal Capital Management LLC reduced its position in shares of Westrock Co (NYSE:WRK) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 103,450 shares of the basic materials company’s stock after selling 7,618 shares during the quarter. Westrock accounts for approximately 2.6% of Canal Capital Management LLC’s holdings, making the stock its 5th biggest position. Canal Capital Management LLC’s holdings in Westrock were worth $3,906,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. LS Investment Advisors LLC grew its stake in shares of Westrock by 3.0% during the 4th quarter. LS Investment Advisors LLC now owns 15,212 shares of the basic materials company’s stock valued at $574,000 after purchasing an additional 440 shares during the period. Union Bankshares Corp lifted its position in shares of Westrock by 0.7% during the 4th quarter. Union Bankshares Corp now owns 69,076 shares of the basic materials company’s stock valued at $2,608,000 after buying an additional 450 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Westrock by 8.1% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 8,560 shares of the basic materials company’s stock valued at $362,000 after buying an additional 643 shares in the last quarter. First Bank & Trust lifted its position in shares of Westrock by 13.6% during the 4th quarter. First Bank & Trust now owns 6,030 shares of the basic materials company’s stock valued at $228,000 after buying an additional 722 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV lifted its position in shares of Westrock by 12.4% during the 4th quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 8,153 shares of the basic materials company’s stock valued at $308,000 after buying an additional 900 shares in the last quarter. Institutional investors and hedge funds own 83.74% of the company’s stock.

A number of research analysts have recently weighed in on the company. Bank of America cut Westrock from a “buy” rating to a “neutral” rating in a research report on Monday, December 17th. Barclays cut Westrock from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $52.00 to $42.00 in a research report on Monday, January 7th. Wells Fargo & Co lowered their price objective on Westrock from $53.00 to $50.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 6th. Citigroup cut Westrock from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $52.00 to $42.00 in a research report on Monday, January 7th. Finally, Zacks Investment Research reissued a “hold” rating on shares of Westrock in a report on Saturday, November 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $54.33.

NYSE WRK opened at $37.81 on Monday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.84 and a current ratio of 1.40. Westrock Co has a 12 month low of $35.20 and a 12 month high of $67.96. The company has a market capitalization of $9.65 billion, a P/E ratio of 9.24, a price-to-earnings-growth ratio of 1.58 and a beta of 1.66.

Westrock (NYSE:WRK) last posted its quarterly earnings results on Thursday, January 31st. The basic materials company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.03. Westrock had a return on equity of 9.12% and a net margin of 5.44%. The company had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.58 billion. As a group, equities analysts forecast that Westrock Co will post 4.22 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 25th. Investors of record on Friday, February 15th will be issued a $0.455 dividend. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $1.82 dividend on an annualized basis and a yield of 4.81%. Westrock’s dividend payout ratio is presently 44.50%.

In other Westrock news, CFO Ward H. Dickson purchased 2,645 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were bought at an average cost of $37.94 per share, with a total value of $100,351.30. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert A. Feeser sold 67,755 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $46.91, for a total value of $3,178,387.05. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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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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