ING Groep NV Acquires New Holdings in Smurfit Westrock Ltd (NYSE:SW)

ING Groep NV purchased a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 65,986 shares of the company's stock, valued at approximately $3,261,000.

Several other hedge funds also recently added to or reduced their stakes in SW. Vontobel Holding Ltd. acquired a new stake in shares of Smurfit Westrock in the third quarter valued at about $62,832,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Smurfit Westrock during the third quarter valued at approximately $51,430,000. Patten & Patten Inc. TN acquired a new position in shares of Smurfit Westrock during the third quarter worth $49,538,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Smurfit Westrock in the third quarter valued at $39,627,000. Finally, Principal Financial Group Inc. acquired a new stake in Smurfit Westrock during the 3rd quarter valued at $29,716,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SW. Redburn Atlantic initiated coverage on Smurfit Westrock in a research report on Friday, August 23rd. They set a "buy" rating and a $60.00 target price on the stock. Morgan Stanley upped their target price on Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Thursday. Royal Bank of Canada reissued an "outperform" rating and set a $58.00 price target on shares of Smurfit Westrock in a research report on Friday. Jefferies Financial Group reaffirmed a "hold" rating and issued a $52.00 price target on shares of Smurfit Westrock in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Smurfit Westrock Stock Performance

Shares of Smurfit Westrock stock traded up $1.60 during trading hours on Friday, reaching $51.66. The company's stock had a trading volume of 3,028,239 shares, compared to its average volume of 3,853,953. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $54.32. The business's 50 day moving average price is $47.63. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $26.87 billion, a PE ratio of 287.02 and a beta of 1.04.

Smurfit Westrock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's dividend payout ratio (DPR) is presently 672.26%.

Smurfit Westrock Company 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.