CIBC Asset Management Inc Makes New $3.59 Million Investment in Smurfit Westrock Ltd (NYSE:SW)

CIBC Asset Management Inc purchased a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 72,654 shares of the company's stock, valued at approximately $3,591,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Sycomore Asset Management acquired a new position in Smurfit Westrock in the third quarter worth $27,249,000. ING Groep NV acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at about $3,261,000. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at about $797,000. Metis Global Partners LLC bought a new stake in shares of Smurfit Westrock during the 3rd quarter valued at about $2,309,000. Finally, KBC Group NV bought a new position in Smurfit Westrock in the third quarter worth about $9,723,000. 83.38% of the stock is currently owned by institutional investors.

Smurfit Westrock Stock Down 0.6 %

SW traded down $0.30 during trading on Tuesday, reaching $53.14. 2,871,220 shares of the company's stock were exchanged, compared to its average volume of 5,194,296. The company has a market cap of $27.64 billion, a P/E ratio of 294.94 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 has a 50 day moving average of $47.81. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $54.32.

Smurfit Westrock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be issued a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.28%. Smurfit Westrock's dividend payout ratio is 672.22%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SW. Jefferies Financial Group reaffirmed a "hold" rating and set a $52.00 target price on shares of Smurfit Westrock in a report on Monday, July 29th. Citigroup started coverage on shares of Smurfit Westrock in a report on Wednesday, October 23rd. They issued a "buy" rating and a $57.00 price objective on the stock. Redburn Atlantic assumed coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They set a "buy" rating and a $60.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. reduced their price objective on Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $58.00.

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.