Mizuho Securities USA LLC Takes Position in Smurfit Westrock Ltd (NYSE:SW)

Mizuho Securities USA LLC bought a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,825,000 shares of the company's stock, valued at approximately $386,712,000. Smurfit Westrock makes up approximately 1.0% of Mizuho Securities USA LLC's investment portfolio, making the stock its 16th largest position. Mizuho Securities USA LLC owned approximately 1.51% of Smurfit Westrock as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SW. Mather Group LLC. purchased a new position in Smurfit Westrock during the third quarter valued at approximately $25,000. CVA Family Office LLC acquired a new stake in shares of Smurfit Westrock during the 3rd quarter valued at $26,000. ORG Wealth Partners LLC purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at $32,000. Waldron Private Wealth LLC acquired a new position in Smurfit Westrock in the 3rd quarter worth about $35,000. Finally, Cromwell Holdings LLC acquired a new stake in shares of Smurfit Westrock during the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 83.38% of the company's stock.

Smurfit Westrock Trading Up 3.2 %

Shares of SW traded up $1.60 during trading hours on Friday, hitting $51.66. 3,028,239 shares of the stock traded hands, compared to its average volume of 3,853,953. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $54.32. The stock has a market capitalization of $26.87 billion, a price-to-earnings ratio of 287.02 and a beta of 1.04. The firm has a fifty day simple moving average of $47.63.

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 paid 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 of this dividend is Friday, November 15th. Smurfit Westrock's dividend payout ratio (DPR) is presently 672.26%.

Analyst Upgrades and Downgrades

SW has been the subject of several research reports. Wells Fargo & Company reduced their price target on Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating for the company in a report on Monday, October 7th. Royal Bank of Canada restated an "outperform" rating and set a $58.00 price objective on shares of Smurfit Westrock in a research report on Friday. Citigroup assumed coverage on Smurfit Westrock in a research report on Wednesday, October 23rd. They set a "buy" rating and a $57.00 price objective on the stock. Redburn Atlantic assumed coverage on Smurfit Westrock in a research report on Friday, August 23rd. They issued a "buy" rating and a $60.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Two 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.com, Smurfit Westrock has a consensus rating of "Moderate Buy" and an average target price of $58.00.

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.