Franklin Resources Inc. Makes New $198.26 Million Investment in Smurfit Westrock Ltd (NYSE:SW)

Franklin Resources Inc. 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 4,272,935 shares of the company's stock, valued at approximately $198,258,000. Franklin Resources Inc. owned about 0.82% of Smurfit Westrock at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Mather Group LLC. purchased a new position in shares of Smurfit Westrock in the third quarter worth $25,000. CVA Family Office LLC purchased a new position in shares of Smurfit Westrock in the third quarter worth $26,000. ORG Wealth Partners LLC purchased a new stake in Smurfit Westrock during the third quarter valued at $32,000. Waldron Private Wealth LLC purchased a new stake in Smurfit Westrock during the third quarter valued at $35,000. Finally, Cromwell Holdings LLC purchased a new stake in Smurfit Westrock during the third quarter valued at $42,000. Hedge funds and other institutional investors own 83.38% of the company's stock.

Insider Transactions at Smurfit Westrock

In related news, insider Saverio Mayer sold 25,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the transaction, the insider now directly owns 149,911 shares of the company's stock, valued at approximately $8,221,119.24. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SW shares. Wells Fargo & Company reduced their price objective on 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. Argus started coverage on Smurfit Westrock in a research report on Thursday, December 5th. They set a "buy" rating and a $62.00 price objective for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $58.00 price objective on shares of Smurfit Westrock in a research report on Friday, November 15th. Barclays upped their price objective on Smurfit Westrock from $60.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, Morgan Stanley boosted 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. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.00.

Smurfit Westrock Price Performance

Shares of NYSE SW traded up $0.28 during mid-day trading on Friday, reaching $53.73. The company's stock had a trading volume of 2,440,098 shares, compared to its average volume of 3,256,798. The company has a market cap of $27.95 billion, a price-to-earnings ratio of 298.52 and a beta of 1.04. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The firm's fifty day simple moving average is $50.71. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99.

Smurfit Westrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's dividend payout ratio (DPR) is 672.26%.

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.