KBC Group NV Buys New Position in Smurfit Westrock Ltd (NYSE:SW)

KBC Group NV acquired a new position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 196,739 shares of the company's stock, valued at approximately $9,723,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SW. Oppenheimer Asset Management Inc. bought a new stake in Smurfit Westrock during the 3rd quarter worth about $8,281,000. Victory Capital Management Inc. bought a new stake in Smurfit Westrock during the third quarter worth about $5,955,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in Smurfit Westrock during the third quarter valued at approximately $51,430,000. GSA Capital Partners LLP bought a new position in Smurfit Westrock in the third quarter valued at approximately $215,000. Finally, Access Investment Management LLC acquired a new position in shares of Smurfit Westrock during the 3rd quarter worth approximately $16,179,000. Institutional investors and hedge funds own 83.38% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SW. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $58.00 target price on shares of Smurfit Westrock in a report on Friday. Jefferies Financial Group reiterated a "hold" rating and set a $52.00 target price on shares of Smurfit Westrock in a research note on Monday, July 29th. Wells Fargo & Company decreased their target price on Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday, October 7th. Morgan Stanley lifted their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Redburn Atlantic initiated coverage on shares of Smurfit Westrock in a report on Friday, August 23rd. They issued a "buy" rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

Smurfit Westrock Trading Up 3.2 %

NYSE SW traded up $1.60 during trading on Friday, hitting $51.66. 3,028,239 shares of the company's stock were exchanged, compared to its average volume of 3,853,953. The firm's 50 day moving average price is $47.63. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $54.32. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The stock has a market capitalization of $26.87 billion, a P/E ratio of 287.02 and a beta of 1.04.

Smurfit Westrock Announces Dividend

The company also recently declared 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 is Friday, November 15th. Smurfit Westrock's dividend payout ratio (DPR) is currently 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.