Illinois Municipal Retirement Fund Acquires 5,855 Shares of WestRock (NYSE:WRK)


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Illinois Municipal Retirement Fund increased its holdings in shares of WestRock (NYSE:WRK) by 11.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 55,721 shares of the basic materials company’s stock after purchasing an additional 5,855 shares during the period. Illinois Municipal Retirement Fund’s holdings in WestRock were worth $2,900,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of WRK. Price T Rowe Associates Inc. MD boosted its holdings in shares of WestRock by 50.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,770,474 shares of the basic materials company’s stock worth $817,079,000 after acquiring an additional 6,334,994 shares during the period. Norges Bank bought a new stake in shares of WestRock during the fourth quarter worth approximately $204,694,000. Boston Partners bought a new stake in shares of WestRock during the fourth quarter worth approximately $147,964,000. BlackRock Inc. boosted its holdings in shares of WestRock by 6.2% during the fourth quarter. BlackRock Inc. now owns 22,858,307 shares of the basic materials company’s stock worth $995,022,000 after acquiring an additional 1,340,655 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of WestRock by 110.5% during the fourth quarter. Nordea Investment Management AB now owns 2,361,781 shares of the basic materials company’s stock worth $102,808,000 after acquiring an additional 1,239,906 shares during the period. Institutional investors and hedge funds own 80.83% of the company’s stock.

In other WestRock news, insider Jeffrey Wayne Chalovich sold 19,600 shares of the firm’s stock in a transaction that occurred on Thursday, March 11th. The shares were sold at an average price of $51.23, for a total value of $1,004,108.00. Following the sale, the insider now owns 123,694 shares in the company, valued at $6,336,843.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.92% of the company’s stock.

Shares of WestRock stock opened at $57.37 on Tuesday. WestRock has a fifty-two week low of $23.22 and a fifty-two week high of $57.72. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.80 and a quick ratio of 1.03. The firm has a market capitalization of $15.12 billion, a P/E ratio of 19.19 and a beta of 1.38. The company’s 50 day moving average price is $52.97 and its two-hundred day moving average price is $45.96.

WRK has been the subject of several recent research reports. UBS Group started coverage on WestRock in a research note on Tuesday, January 12th. They issued a “buy” rating and a $59.00 price target for the company. BMO Capital Markets increased their target price on WestRock from $54.00 to $61.00 and gave the stock an “outperform” rating in a report on Wednesday, March 10th. KeyCorp boosted their price target on WestRock from $35.00 to $40.00 and gave the company an “underweight” rating in a research note on Monday, April 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of WestRock from $58.00 to $59.00 in a report on Monday, April 19th. Finally, Zacks Investment Research downgraded shares of WestRock from a “buy” rating to a “hold” rating and set a $44.00 price target for the company. in a report on Tuesday, February 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $49.27.

WestRock Company Profile

WestRock Company manufactures and sells paper and packaging solutions in North America, South America, Europe, Asia, and Australia. The company operates through Corrugated Packaging and Consumer Packaging segments. The Corrugated Packaging segment produces containerboards, corrugated sheets, corrugated packaging, and preprinted linerboards for sale to 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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