Melqart Asset Management UK Ltd Buys Shares of 721,736 Smurfit Westrock Ltd (NYSE:SW)

Melqart Asset Management UK Ltd acquired a new position in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 721,736 shares of the company's stock, valued at approximately $35,668,000. Smurfit Westrock accounts for 3.2% of Melqart Asset Management UK Ltd's holdings, making the stock its 9th biggest position. Melqart Asset Management UK Ltd owned approximately 0.14% of Smurfit Westrock at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SW. Mather Group LLC. bought a new position in shares of Smurfit Westrock in the 3rd quarter worth approximately $25,000. CVA Family Office LLC bought a new position in Smurfit Westrock during the 3rd quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new position in Smurfit Westrock during the 3rd quarter valued at approximately $32,000. Waldron Private Wealth LLC bought a new position in Smurfit Westrock during the 3rd quarter valued at approximately $35,000. Finally, Cromwell Holdings LLC bought a new position in Smurfit Westrock during the 3rd quarter valued at approximately $42,000. Institutional investors own 83.38% of the company's stock.

Smurfit Westrock Stock Down 1.2 %

NYSE:SW traded down $0.65 on Wednesday, reaching $54.57. 2,890,870 shares of the company's stock traded hands, compared to its average volume of 5,068,764. 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's 50-day moving average is $49.80. The stock has a market capitalization of $28.39 billion, a price-to-earnings ratio of 306.74 and a beta of 1.04. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $56.99.

Smurfit Westrock Dividend Announcement

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

Insider Buying and Selling at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of Smurfit Westrock stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $54.84, for a total value of $1,371,000.00. Following the sale, the insider now directly owns 149,911 shares of the company's stock, valued at approximately $8,221,119.24. The trade was a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SW. Redburn Atlantic began coverage on Smurfit Westrock in a research report on Friday, August 23rd. They set a "buy" rating and a $60.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Smurfit Westrock from $65.00 to $69.00 and gave the stock an "overweight" rating in a report on Friday, November 29th. Royal Bank of Canada restated an "outperform" rating and issued a $58.00 price target on shares of Smurfit Westrock in a research note on Friday, November 15th. Citigroup initiated coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a "buy" rating and a $57.00 price target on the stock. Finally, Wells Fargo & Company lowered their target price on Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Smurfit Westrock presently has an average rating of "Moderate Buy" and an average target price of $58.57.

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.