Asset Management One Co. Ltd. Takes $9.19 Million Position in Smurfit Westrock Ltd (NYSE:SW)

Asset Management One Co. Ltd. bought a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 185,904 shares of the company's stock, valued at approximately $9,187,000.

Other hedge funds have also modified their holdings of the company. National Pension Service acquired a new stake in Smurfit Westrock in the 3rd quarter valued at approximately $3,984,000. Old North State Wealth Management LLC purchased a new position in shares of Smurfit Westrock during the third quarter worth $3,790,000. Forum Financial Management LP acquired a new stake in shares of Smurfit Westrock in the third quarter valued at $299,000. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Smurfit Westrock in the 3rd quarter valued at $6,334,000. Finally, Van ECK Associates Corp acquired a new position in Smurfit Westrock during the 3rd quarter worth about $279,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Smurfit Westrock Trading Down 2.0 %

NYSE:SW traded down $1.06 during trading hours on Friday, hitting $52.39. The company's stock had a trading volume of 3,590,553 shares, compared to its average volume of 5,341,323. The company has a market capitalization of $27.21 billion, a PE ratio of 296.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The company has a fifty day simple moving average of $46.99. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $54.32.

Smurfit Westrock Announces Dividend

The firm also recently announced 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. This represents a $1.21 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's payout ratio is 672.26%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SW shares. 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 price target on the stock. Citigroup initiated 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 on the stock. Redburn Atlantic began coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They issued a "buy" rating and a $60.00 price target for the company. Jefferies Financial Group reaffirmed a "hold" rating and set a $52.00 price objective on shares of Smurfit Westrock in a research report on Monday, July 29th. Finally, Wells Fargo & Company decreased their target price on Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating for the company in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.43.

Smurfit Westrock Company Profile

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.