Smurfit Westrock Ltd (NYSE:SW) Stock Holdings Increased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,269 shares of the company's stock after buying an additional 8,615 shares during the period. CIBC Asset Management Inc's holdings in Smurfit Westrock were worth $4,377,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stephens Inc. AR increased its stake in Smurfit Westrock by 3.7% during the fourth quarter. Stephens Inc. AR now owns 5,616 shares of the company's stock worth $302,000 after purchasing an additional 199 shares during the period. Principal Securities Inc. grew its position in shares of Smurfit Westrock by 49.1% during the fourth quarter. Principal Securities Inc. now owns 695 shares of the company's stock worth $37,000 after buying an additional 229 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Smurfit Westrock by 117.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company's stock worth $28,000 after buying an additional 279 shares in the last quarter. DAVENPORT & Co LLC grew its position in shares of Smurfit Westrock by 0.5% during the fourth quarter. DAVENPORT & Co LLC now owns 55,898 shares of the company's stock worth $3,011,000 after buying an additional 299 shares in the last quarter. Finally, Contravisory Investment Management Inc. grew its position in shares of Smurfit Westrock by 2.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 14,189 shares of the company's stock worth $764,000 after buying an additional 365 shares in the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Ken Bowles sold 24,225 shares of Smurfit Westrock stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total value of $1,333,828.50. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Saverio Mayer sold 25,000 shares of Smurfit Westrock stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $54.84, for a total value of $1,371,000.00. Following the completion of the transaction, the insider now owns 149,911 shares of the company's stock, valued at approximately $8,221,119.24. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.

Analyst Ratings Changes

SW has been the subject of a number of analyst reports. Barclays boosted their price objective on Smurfit Westrock from $60.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Truist Financial began coverage on Smurfit Westrock in a report on Tuesday, January 21st. They issued a "buy" rating and a $62.00 price target for the company. JPMorgan Chase & Co. upped their price target on Smurfit Westrock from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Friday, November 29th. Morgan Stanley upped their price target on Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $58.00 price target on shares of Smurfit Westrock in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $60.70.

Smurfit Westrock Stock Down 1.7 %

Shares of NYSE:SW traded down $0.93 during mid-day trading on Friday, hitting $53.17. 2,515,222 shares of the company traded hands, compared to its average volume of 3,587,234. The firm has a market cap of $27.67 billion, a P/E ratio of 96.67 and a beta of 1.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $56.99. The firm's 50 day simple moving average is $53.60 and its 200 day simple moving average is $50.02.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. On average, equities analysts anticipate that Smurfit Westrock Ltd will post 3.25 EPS for the current year.

Smurfit Westrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.4308 per share. The ex-dividend date is Friday, February 14th. This is an increase from Smurfit Westrock's previous quarterly dividend of $0.30. This represents a $1.72 annualized dividend and a yield of 3.24%. Smurfit Westrock's payout ratio is currently 312.73%.

About Smurfit Westrock

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.