Handelsbanken Fonder AB, a leading investment fund, recently disclosed in its latest 13F filing with the Securities and Exchange Commission that it has decreased its stake in WestRock by 30.6% during the fourth quarter. This move came as a surprise to many investors who have been keeping a close eye on this market.
WestRock is a basic materials company that is renowned for providing sustainable fiber-based paper and packaging solutions. The company’s stock has attracted many investors over the years because of its stable growth potential and strong financial performance.
The fund owned 69,157 shares of WestRock’s stock after selling 30,530 shares during the period. The sale reduced Handelsbanken Fonder AB’s holdings in WestRock to $2,432,000 at the end of the most recent reporting period.
WestRock issued its quarterly earnings results on May 4th, revealing an impressive $0.77 earnings per share for the quarter, which exceeded analysts’ consensus estimates by $0.25. Consequently, this positively impacted WestRock’s net margin of 3.80% and return on equity (ROE) of 10.53%.
Furthermore, the firm had revenue of $5.28 billion for the quarter compared to analysts’ expectations of $5.23 billion—an upward trend from last year’s revenue figure albeit being down by 1.9% YoY basis.
As things stand presently, during this fiscal year current sell-side analysts project that WestRock will post an estimated 2.9 earnings per share—building up anticipation among investors.
Nevertheless, despite emerging as one of the top contenders in their field-having proficient segments including Corrugated Packaging, Consumer Packaging and Distribution- enthusiastic speculators anticipate another dramatic event before unraveling their position within this public enterprise.
In conclusion although Handelsbanken Fonder AB has chosen to decrease its stake investing thousands into WestRock still serves as a perfect mechanism for any savvy investor seeking to diversify their portfolios. With its commitment to sustainability, progressive innovation and functionality trends, WestRock remains an alluring option for long-term investors who want to gain value in their investments as well as make a profound impact on living conditions of Earth’s lucrative environment.
Investors show support for WestRock through increased stakes, despite one sell rating.
WestRock Co, a provider of sustainable fiber-based paper and packaging solutions, has seen changes in the stakes held by hedge funds and institutional investors. Over the fourth quarter, Lion Street Advisors LLC lifted its stake by 3.1%, now owning 10,065 shares worth $484k. Similarly, MidWestOne Financial Group Inc. boosted its stake for Q1 2017 by 3.6% to own 8,606 shares valued at $405k. Meanwhile, MONECO Advisors LLC grew its position in WestRock Company by 3.5% in Q4 last year, to reach a total of 8,895 shares worth $313K after adding an extra 302 shares purchased during the period; Yousif Capital Management LLC raised its stake in WestRock by 0.6% to take possession of 53,133 shares worth $2.49m; Ensign Peak Advisers raised its holdings by 0.7%. However, according to data from Bloomberg on WestRock’s consensus rating of “Hold”, one investment analyst has rated the stock with a sell rating.