Access Investment Management LLC Takes Position in Smurfit Westrock Ltd (NYSE:SW)

Access Investment Management LLC bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 327,385 shares of the company's stock, valued at approximately $16,179,000. Smurfit Westrock makes up 4.9% of Access Investment Management LLC's investment portfolio, making the stock its 4th biggest holding. Access Investment Management LLC owned 0.06% of Smurfit Westrock as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Private Management Group Inc. acquired a new stake in shares of Smurfit Westrock in the 3rd quarter valued at about $9,405,000. M&G PLC bought a new stake in Smurfit Westrock in the 3rd quarter valued at approximately $9,253,000. Nisa Investment Advisors LLC acquired a new position in Smurfit Westrock during the 3rd quarter worth approximately $542,000. Amalgamated Bank bought a new position in shares of Smurfit Westrock during the 3rd quarter worth approximately $4,854,000. Finally, Lowe Brockenbrough & Co. Inc. acquired a new position in Smurfit Westrock during the third quarter worth $1,702,000. 83.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on SW. Morgan Stanley started coverage on shares of Smurfit Westrock in a research note on Friday, July 19th. They issued an "overweight" rating and a $60.00 price target on the stock. Jefferies Financial Group reissued a "hold" rating and set a $52.00 price target on shares of Smurfit Westrock in a research report on Monday, July 29th. Redburn Atlantic assumed coverage on Smurfit Westrock in a report on Friday, August 23rd. They issued a "buy" rating and a $60.00 price objective for the company. Royal Bank of Canada raised shares of Smurfit Westrock from a "sector perform" rating to an "outperform" rating and upped their price target for the stock from $52.00 to $58.00 in a research report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating for the company in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.43.

Smurfit Westrock Stock Down 0.2 %

Shares of NYSE SW traded down $0.08 during mid-day trading on Monday, reaching $52.31. 1,949,131 shares of the company were exchanged, compared to its average volume of 5,303,208. The company has a market capitalization of $27.17 billion, a PE ratio of 290.17 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 firm's 50-day moving average is $47.09. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $54.32.

Smurfit Westrock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be given a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, November 15th. Smurfit Westrock's payout ratio is 672.22%.

Smurfit Westrock 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.