Smart Money Is Pouring Into WestRock Co (WRK)

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Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as WestRock Co (NYSE:WRK) but similarly valued. These stocks are Ingersoll-Rand PLC (NYSE:IR), Parker-Hannifin Corporation (NYSE:PH), Mohawk Industries, Inc. (NYSE:MHK), and Invesco Ltd. (NYSE:IVZ). This group of stocks’ market valuations resemble WestRock Co’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
IR 42 1439823 5
PH 25 847557 5
MHK 64 2866628 5
IVZ 38 691373 0

As you can see these stocks had an average of 42.25 hedge funds with bullish positions and the average amount invested in these stocks was $1.46 billion. That figure was $1.47 billion in WestRock Co’s case. Mohawk Industries, Inc. (NYSE:MHK) is the most popular stock in this table. On the other hand Parker-Hannifin Corporation (NYSE:PH) is the least popular one with only 25 bullish hedge fund positions. WestRock Co (NYSE:WRK) is not the least popular stock in this group but hedge fund interest is still below average. However, given the huge influx of smart money into the stock during Q3, it may be worth investigating further why so many top investors  like Jeffrey Smith are confident in this stock right now.

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