Starboard Value Lp buys $194.3 Million stake in WestRock Co (WRK)

WestRock Co (WRK) : Starboard Value Lp scooped up 50,000 additional shares in WestRock Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 4,566,258 shares of WestRock Co which is valued at $194.3 Million.WestRock Co makes up approximately 8.30% of Starboard Value Lp’s portfolio.

Other Hedge Funds, Including , Stevens Capital Management Lp reduced its stake in WRK by selling 9,518 shares or 64.13% in the most recent quarter. The Hedge Fund company now holds 5,323 shares of WRK which is valued at $226,547. WestRock Co makes up approx 0.01% of Stevens Capital Management Lp’s portfolio. Dubuque Bank Trust Co sold out all of its stake in WRK during the most recent quarter. The investment firm sold 54 shares of WRK which is valued $2,209.Diam Ltd. reduced its stake in WRK by selling 26,073 shares or 37.37% in the most recent quarter. The Hedge Fund company now holds 43,691 shares of WRK which is valued at $1.8 Million. WestRock Co makes up approx 0.03% of Diam Ltd.’s portfolio.Diversified Trust Co reduced its stake in WRK by selling 5,080 shares or 31.91% in the most recent quarter. The Hedge Fund company now holds 10,840 shares of WRK which is valued at $443,356. WestRock Co makes up approx 0.06% of Diversified Trust Co’s portfolio.

WestRock Co opened for trading at $39.03 and hit $39.78 on the upside on Wednesday, eventually ending the session at $39.4, with a gain of 1.84% or 0.71 points. The heightened volatility saw the trading volume jump to 14,38,224 shares. Company has a market cap of $9,953 M.

On the company’s financial health, WestRock Co reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.52. The company had revenue of $3696.60 million for the quarter, compared to analysts expectations of $3632.71 million. The company’s revenue was down -1.1 % compared to the same quarter last year.

Many Wall Street Analysts have commented on WestRock Co. Company shares were Reiterated by Barclays on May 2, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 41 from a previous price target of $40 .WestRock Co was Downgraded by Dundee to ” Neutral” on Apr 20, 2016. WestRock Co was Downgraded by Wells Fargo to ” Market Perform” on Apr 8, 2016.

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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