Adams Natural Resources Fund Inc. Has $2.07 Million Holdings in WestRock Co (WRK)

Adams Natural Resources Fund Inc. decreased its holdings in shares of WestRock Co (NYSE:WRK) by 49.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,700 shares of the basic materials company’s stock after selling 37,900 shares during the period. Adams Natural Resources Fund Inc.’s holdings in WestRock were worth $2,068,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Captrust Financial Advisors lifted its stake in WestRock by 24.1% during the second quarter. Captrust Financial Advisors now owns 60,155 shares of the basic materials company’s stock worth $3,430,000 after purchasing an additional 11,680 shares during the period. Centaurus Financial Inc. bought a new position in shares of WestRock in the second quarter valued at approximately $976,000. Conning Inc. raised its stake in shares of WestRock by 14.0% in the second quarter. Conning Inc. now owns 685,017 shares of the basic materials company’s stock valued at $39,060,000 after acquiring an additional 84,013 shares during the last quarter. Richard Bernstein Advisors LLC raised its stake in shares of WestRock by 30.8% in the second quarter. Richard Bernstein Advisors LLC now owns 97,350 shares of the basic materials company’s stock valued at $5,551,000 after acquiring an additional 22,949 shares during the last quarter. Finally, Investec Asset Management LTD raised its stake in shares of WestRock by 4.6% in the second quarter. Investec Asset Management LTD now owns 2,464,357 shares of the basic materials company’s stock valued at $140,518,000 after acquiring an additional 108,110 shares during the last quarter. Hedge funds and other institutional investors own 85.10% of the company’s stock.

WRK stock opened at $40.94 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.56 and a quick ratio of 0.95. WestRock Co has a fifty-two week low of $39.21 and a fifty-two week high of $71.55. The company has a market capitalization of $10.60 billion, a P/E ratio of 15.63, a P/E/G ratio of 0.79 and a beta of 1.32.

WestRock (NYSE:WRK) last posted its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.03. WestRock had a net margin of 11.31% and a return on equity of 8.49%. The firm had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter in the previous year, the company posted $0.74 EPS. WestRock’s revenue was up 12.0% on a year-over-year basis. As a group, sell-side analysts forecast that WestRock Co will post 4.04 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Investors of record on Friday, November 9th will be given a $0.455 dividend. This represents a $1.82 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Thursday, November 8th. This is a boost from WestRock’s previous quarterly dividend of $0.43. WestRock’s payout ratio is 65.65%.

A number of research analysts have recently issued reports on WRK shares. Wells Fargo & Co cut their target price on shares of WestRock from $63.00 to $53.00 and set a “market perform” rating for the company in a research note on Tuesday, October 9th. Barclays cut their target price on shares of WestRock from $64.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, August 9th. ValuEngine upgraded shares of WestRock from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Goldman Sachs Group cut shares of WestRock from a “conviction-buy” rating to a “buy” rating and set a $64.00 target price for the company. in a research note on Wednesday, October 10th. Finally, Stephens set a $63.00 target price on shares of WestRock and gave the company a “weight” rating in a research note on Thursday, July 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $66.42.

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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