Rit Capital Partners PLC purchased a new position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 724,000 shares of the company's stock, valued at approximately $39,009,000. Smurfit Westrock comprises approximately 4.7% of Rit Capital Partners PLC's portfolio, making the stock its 7th largest holding. Rit Capital Partners PLC owned about 0.14% of Smurfit Westrock at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Alpha Omega Wealth Management LLC bought a new stake in shares of Smurfit Westrock during the fourth quarter valued at approximately $5,252,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Smurfit Westrock by 29.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,487 shares of the company's stock valued at $2,309,000 after buying an additional 9,581 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Smurfit Westrock in the third quarter valued at approximately $597,000. Nordea Investment Management AB boosted its position in shares of Smurfit Westrock by 11.0% in the 4th quarter. Nordea Investment Management AB now owns 5,039,818 shares of the company's stock worth $272,049,000 after purchasing an additional 500,699 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of Smurfit Westrock during the third quarter valued at about $511,000. Hedge funds and other institutional investors own 83.38% of the company's stock.
Wall Street Analyst Weigh In
SW has been the subject of several analyst reports. Argus started coverage on Smurfit Westrock in a report on Thursday, December 5th. They issued a "buy" rating and a $62.00 price objective for the company. Citigroup lifted their price objective on shares of Smurfit Westrock from $61.00 to $62.00 and gave the company a "buy" rating in a report on Monday, January 6th. Morgan Stanley lowered their target price on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Barclays lifted their price target on Smurfit Westrock from $60.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday, December 11th. Finally, Truist Financial initiated coverage on Smurfit Westrock in a research report on Tuesday, January 21st. They set a "buy" rating and a $62.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $60.70.
Check Out Our Latest Analysis on SW
Insider Transactions at Smurfit Westrock
In related news, insider Alvaro Henao sold 4,000 shares of Smurfit Westrock stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $53.90, for a total value of $215,600.00. Following the completion of the transaction, the insider now owns 44,361 shares in the company, valued at approximately $2,391,057.90. The trade was a 8.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ken Bowles sold 24,225 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the sale, the insider now owns 111,458 shares in the company, valued at approximately $6,136,877.48. This trade represents a 17.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.49% of the company's stock.
Smurfit Westrock Trading Down 7.8 %
Shares of Smurfit Westrock stock traded down $3.65 during trading hours on Thursday, hitting $43.41. The company's stock had a trading volume of 3,260,913 shares, compared to its average volume of 4,776,848. The firm has a fifty day moving average of $50.00 and a 200-day moving average of $50.67. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37. The stock has a market cap of $22.66 billion, a price-to-earnings ratio of 78.93 and a beta of 0.99. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $56.99.
Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. Research analysts forecast that Smurfit Westrock Ltd will post 3.25 EPS for the current year.
Smurfit Westrock Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th were paid a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.97%. This is a boost from Smurfit Westrock's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 14th. Smurfit Westrock's dividend payout ratio is 312.73%.
About Smurfit Westrock
(
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.
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