Nomura Asset Management Co. Ltd. Acquires New Stake in Smurfit Westrock Ltd (NYSE:SW)

Nomura Asset Management Co. Ltd. bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 160,697 shares of the company's stock, valued at approximately $7,942,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Y Intercept Hong Kong Ltd acquired a new position in Smurfit Westrock during the 3rd quarter worth approximately $910,000. MML Investors Services LLC acquired a new position in shares of Smurfit Westrock during the third quarter worth approximately $410,000. Kimelman & Baird LLC acquired a new stake in Smurfit Westrock in the 3rd quarter valued at $511,000. XTX Topco Ltd acquired a new position in shares of Smurfit Westrock during the third quarter valued at about $314,000. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Smurfit Westrock in the third quarter valued at approximately $65,536,000. Institutional investors own 83.38% of the company's stock.

Smurfit Westrock Trading Up 0.5 %

Shares of NYSE SW traded up $0.27 during midday trading on Friday, hitting $53.73. 2,440,098 shares of the company's stock were exchanged, compared to its average volume of 4,920,510. The firm has a fifty day moving average price of $50.57. The stock has a market capitalization of $27.95 billion, a P/E ratio of 298.52 and a beta of 1.04. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. Smurfit Westrock Ltd has a 12-month low of $38.55 and a 12-month high of $56.99.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 2.25%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's dividend payout ratio (DPR) is currently 672.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SW shares. Citigroup started coverage on Smurfit Westrock in a report on Wednesday, October 23rd. They issued a "buy" rating and a $57.00 target price for the company. Argus initiated coverage on shares of Smurfit Westrock in a research report on Thursday, December 5th. They issued a "buy" rating and a $62.00 price objective on the stock. Barclays increased their target price on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday. Morgan Stanley increased their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Finally, Redburn Atlantic assumed coverage on Smurfit Westrock in a research note on Friday, August 23rd. They set a "buy" rating and a $60.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Smurfit Westrock presently has an average rating of "Moderate Buy" and an average price target of $60.00.

Insiders Place Their Bets

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is owned by insiders.

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.