Kentucky Retirement Systems Invests $1.70 Million in Smurfit Westrock Ltd (NYSE:SW)

Kentucky Retirement Systems purchased a new position in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,372 shares of the company's stock, valued at approximately $1,699,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vontobel Holding Ltd. purchased a new stake in Smurfit Westrock in the third quarter worth about $62,832,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Smurfit Westrock in the 3rd quarter worth approximately $51,430,000. Patten & Patten Inc. TN purchased a new position in Smurfit Westrock during the third quarter valued at approximately $49,538,000. Compagnie Lombard Odier SCmA bought a new position in shares of Smurfit Westrock in the third quarter worth approximately $39,627,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Smurfit Westrock in the third quarter worth $29,716,000. 83.38% of the stock is owned by institutional investors.

Smurfit Westrock Trading Down 1.1 %

Smurfit Westrock stock traded down $0.60 during trading on Tuesday, hitting $52.84. The company had a trading volume of 1,273,704 shares, compared to its average volume of 5,177,035. The stock has a market cap of $27.49 billion, a PE ratio of 296.96 and a beta of 1.04. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $54.32. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The company has a 50 day simple moving average of $47.81.

Smurfit Westrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be given a dividend of $0.3025 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 annualized dividend and a dividend yield of 2.29%. Smurfit Westrock's dividend payout ratio is presently 672.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Jefferies Financial Group restated a "hold" rating and issued a $52.00 price objective on shares of Smurfit Westrock in a research report on Monday, July 29th. Morgan Stanley increased their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. JPMorgan Chase & Co. lowered their target price on shares of Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company decreased their price objective on Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Monday, October 7th. Finally, Redburn Atlantic began coverage on Smurfit Westrock in a report on Friday, August 23rd. They set a "buy" rating and a $60.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $58.00.

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.