Patten & Patten Inc. TN acquired a new stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,002,393 shares of the company's stock, valued at approximately $49,538,000. Smurfit Westrock accounts for about 3.3% of Patten & Patten Inc. TN's investment portfolio, making the stock its 3rd largest holding. Patten & Patten Inc. TN owned about 0.19% of Smurfit Westrock at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. purchased a new stake in shares of Smurfit Westrock in the third quarter worth $62,832,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Smurfit Westrock in the third quarter worth $39,627,000. Principal Financial Group Inc. purchased a new stake in shares of Smurfit Westrock in the third quarter worth $29,716,000. New York State Common Retirement Fund purchased a new position in Smurfit Westrock during the third quarter valued at $22,299,000. Finally, Boston Common Asset Management LLC purchased a new position in Smurfit Westrock during the third quarter valued at $16,262,000. Institutional investors own 83.38% of the company's stock.
Smurfit Westrock Stock Performance
Shares of NYSE:SW traded down $0.09 on Monday, reaching $52.30. The company's stock had a trading volume of 1,009,705 shares, compared to its average volume of 5,292,367. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $54.32. The company has a market cap of $27.16 billion, a P/E ratio of 290.17 and a beta of 1.04. The business has a 50-day moving average price of $47.09. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73.
Smurfit Westrock Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be paid a dividend of $0.3025 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.31%. Smurfit Westrock's dividend payout ratio is presently 672.22%.
Analysts Set New Price Targets
Several research firms recently weighed in on SW. Morgan Stanley began coverage on shares of Smurfit Westrock in a research note on Friday, July 19th. They set an "overweight" rating and a $60.00 target price for the company. Jefferies Financial Group reaffirmed a "hold" rating and set a $52.00 target price on shares of Smurfit Westrock in a research note on Monday, July 29th. Royal Bank of Canada raised shares of Smurfit Westrock from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $52.00 to $58.00 in a research note on Thursday, October 31st. Citigroup began coverage on shares of Smurfit Westrock in a research note on Wednesday, October 23rd. They set a "buy" rating and a $57.00 target price for the company. Finally, Wells Fargo & Company cut their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.43.
Check Out Our Latest Report on SW
Smurfit Westrock Profile
(
Free Report)
Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box.
See Also
Before you consider Smurfit Westrock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Smurfit Westrock wasn't on the list.
While Smurfit Westrock currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
