17,240 Shares in Smurfit Westrock Ltd (NYSE:SW) Acquired by Investment Management Corp of Ontario

Investment Management Corp of Ontario bought a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,240 shares of the company's stock, valued at approximately $852,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Private Management Group Inc. acquired a new position in shares of Smurfit Westrock during the third quarter valued at approximately $9,405,000. Intech Investment Management LLC acquired a new position in shares of Smurfit Westrock during the 3rd quarter valued at $597,000. Moors & Cabot Inc. bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth $520,000. Citigroup Inc. acquired a new stake in shares of Smurfit Westrock in the third quarter valued at $77,207,000. Finally, Catalytic Wealth RIA LLC bought a new position in Smurfit Westrock during the third quarter valued at about $520,000. Institutional investors own 83.38% of the company's stock.

Smurfit Westrock Trading Down 0.3 %

NYSE:SW traded down $0.16 during trading hours on Friday, hitting $54.61. 1,633,315 shares of the stock traded hands, compared to its average volume of 3,437,675. The business's 50 day simple moving average is $50.13. The firm has a market capitalization of $28.41 billion, a price-to-earnings ratio of 303.41 and a beta of 1.04. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $56.99. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73.

Smurfit Westrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.22%. The ex-dividend date is Friday, November 15th. Smurfit Westrock's dividend payout ratio is currently 672.26%.

Insiders Place Their Bets

In other news, insider Saverio Mayer sold 25,000 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.49% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on SW shares. JPMorgan Chase & Co. boosted their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Friday, November 29th. Wells Fargo & Company cut their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, October 7th. Morgan Stanley lifted their price target on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. 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. Finally, Redburn Atlantic began coverage on Smurfit Westrock in a research note on Friday, August 23rd. They set a "buy" rating and a $60.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Smurfit Westrock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.00.

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.