Metis Global Partners LLC Takes $2.31 Million Position in Smurfit Westrock Ltd (NYSE:SW)

Metis Global Partners LLC acquired a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 46,712 shares of the company's stock, valued at approximately $2,309,000.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 31st. Jefferies Financial Group reiterated a "hold" rating and issued a $52.00 price objective on shares of Smurfit Westrock in a report on Monday, July 29th. Wells Fargo & Company reduced 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. Redburn Atlantic started coverage on Smurfit Westrock in a report on Friday, August 23rd. They set a "buy" rating and a $60.00 price target for the company. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $58.00 price objective on shares of Smurfit Westrock in a report on Friday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.00.

Smurfit Westrock Stock Up 3.2 %

NYSE:SW traded up $1.60 on Friday, reaching $51.66. 3,028,239 shares of the company's stock were exchanged, compared to its average volume of 3,853,953. The stock has a market cap of $26.87 billion, a price-to-earnings ratio of 287.02 and a beta of 1.04. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $54.32. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $47.63.

Smurfit Westrock Announces Dividend

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

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.