KLP Kapitalforvaltning AS Makes New Investment in Smurfit Westrock Ltd (NYSE:SW)

KLP Kapitalforvaltning AS bought a new stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 173,371 shares of the company's stock, valued at approximately $9,338,000.

A number of other hedge funds have also made changes to their positions in the stock. Alpha Omega Wealth Management LLC bought a new position in Smurfit Westrock during the 4th quarter valued at $5,252,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Smurfit Westrock by 29.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,487 shares of the company's stock worth $2,309,000 after purchasing an additional 9,581 shares during the last quarter. Intech Investment Management LLC acquired a new position in Smurfit Westrock in the third quarter worth about $597,000. Nordea Investment Management AB increased its holdings in Smurfit Westrock by 11.0% in the fourth quarter. Nordea Investment Management AB now owns 5,039,818 shares of the company's stock valued at $272,049,000 after buying an additional 500,699 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in Smurfit Westrock during the third quarter valued at approximately $511,000. Institutional investors and hedge funds own 83.38% of the company's stock.

Insider Buying and Selling at Smurfit Westrock

In other news, insider Alvaro Henao sold 4,000 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $53.90, for a total value of $215,600.00. Following the completion of the sale, the insider now owns 44,361 shares in the company, valued at $2,391,057.90. This represents a 8.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ken Bowles sold 24,225 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $55.06, for a total value of $1,333,828.50. Following the transaction, the insider now directly owns 111,458 shares of the company's stock, valued at $6,136,877.48. This represents a 17.85 % decrease in their position. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

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Smurfit Westrock Stock Performance

Shares of SW traded down $0.89 during mid-day trading on Friday, reaching $44.51. 4,134,893 shares of the company's stock traded hands, compared to its average volume of 4,790,591. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37. The business's 50-day moving average price is $50.51 and its 200-day moving average price is $50.59. The stock has a market capitalization of $23.23 billion, a P/E ratio of 80.93 and a beta of 0.99. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $56.99.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share 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%. Equities analysts predict that Smurfit Westrock Ltd will post 3.25 earnings per share for the current year.

Smurfit Westrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 14th were given a $0.4308 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date was Friday, February 14th. This is a positive change from Smurfit Westrock's previous quarterly dividend of $0.30. Smurfit Westrock's dividend payout ratio is currently 312.73%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays lifted their target price on Smurfit Westrock from $60.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 11th. Morgan Stanley lowered their target price on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. Argus began coverage on shares of Smurfit Westrock in a research report on Thursday, December 5th. They issued a "buy" rating and a $62.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Friday, November 29th. Finally, Citigroup increased their price objective on shares of Smurfit Westrock from $61.00 to $62.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $60.70.

Smurfit Westrock 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.