Ivory Investment Management buys $70,160,986 stake in WestRock Co (WRK)

WestRock Co (WRK) : Ivory Investment Management scooped up 1,228,871 additional shares in WestRock Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,577,715 shares of WestRock Co which is valued at $70,160,986.WestRock Co makes up approximately 2.27% of Ivory Investment Management’s portfolio.

Other Hedge Funds, Including , Pinnacle Associates Ltd boosted its stake in WRK in the latest quarter, The investment management firm added 13,735 additional shares and now holds a total of 83,747 shares of WestRock Co which is valued at $3,724,229. WestRock Co makes up approx 0.08% of Pinnacle Associates Ltd’s portfolio.Public Sector Pension Investment Board boosted its stake in WRK in the latest quarter, The investment management firm added 6,500 additional shares and now holds a total of 47,881 shares of WestRock Co which is valued at $2,129,268. WestRock Co makes up approx 0.03% of Public Sector Pension Investment Board’s portfolio.Alliancebernstein reduced its stake in WRK by selling 345 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 505,654 shares of WRK which is valued at $22,486,433. WestRock Co makes up approx 0.02% of Alliancebernstein’s portfolio.Diam Ltd. boosted its stake in WRK in the latest quarter, The investment management firm added 1,048 additional shares and now holds a total of 44,739 shares of WestRock Co which is valued at $1,876,801. WestRock Co makes up approx 0.03% of Diam Ltd.’s portfolio.Financial Architects Inc boosted its stake in WRK in the latest quarter, The investment management firm added 996 additional shares and now holds a total of 1,044 shares of WestRock Co which is valued at $45,143. WestRock Co makes up approx 0.01% of Financial Architects Inc’s portfolio.

WestRock Co opened for trading at $48.01 and hit $48.56 on the upside on Thursday, eventually ending the session at $48.51, with a gain of 1.27% or 0.61 points. The heightened volatility saw the trading volume jump to 17,54,701 shares. Company has a market cap of $12,200 M.

On the company’s financial health, WestRock Co reported $0.71 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.66. The company had revenue of $3596.50 million for the quarter, compared to analysts expectations of $3698.46 million. The company’s revenue was down -2.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.15 EPS.

Many Wall Street Analysts have commented on WestRock Co. Company shares were Reiterated by Barclays on Aug 11, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 45 from a previous price target of $41 .Company shares were Reiterated by Deutsche Bank on Aug 5, 2016 to “Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $46 .

WestRock Company formerly Rome-Milan Holdings Inc. is a packaging company. The Company provides paper and packaging solutions in consumer and corrugated markets. The Company includes customers across the world from around 275 operating and business locations spanning North America South America Europe and Asia-Pacific. The Company’s products and services include consumer packaging corrugated packaging merchandising displays containerboard kraft paper pulp paperboard recycling and waste solutions and specialty paperboard. The Company’s consumer packaging includes the manufacturing of folding cartons and production of coated paperboard and serves markets such as printing and converting solid bleached sulfate and coated recycled board. Its corrugated packaging is engaged in the manufacturing of containerboard containers pre-print and microflute packaging retail displays and automated packaging systems. Rock-Tenn Company is a subsidiary of WestRock Co.

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