Lowe Brockenbrough & Co. Inc. Purchases Shares of 34,449 Smurfit Westrock Ltd (NYSE:SW)

Lowe Brockenbrough & Co. Inc. purchased a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 34,449 shares of the company's stock, valued at approximately $1,702,000.

Several other large investors have also recently added to or reduced their stakes in the stock. New York State Common Retirement Fund bought a new position in Smurfit Westrock during the 3rd quarter worth approximately $22,299,000. Hartford Financial Management Inc. acquired a new stake in shares of Smurfit Westrock during the third quarter worth $596,000. Stephens Inc. AR acquired a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $268,000. US Bancorp DE acquired a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $791,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $14,835,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Price Performance

Shares of SW stock traded down $0.04 on Friday, hitting $51.46. The company's stock had a trading volume of 3,613,467 shares, compared to its average volume of 3,738,048. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 2.18. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $52.76. The firm's fifty day moving average price is $46.53. The firm has a market cap of $26.73 billion, a PE ratio of 285.89 and a beta of 1.04.

Smurfit Westrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Friday, November 15th. Smurfit Westrock's payout ratio is presently 672.22%.

Wall Street Analyst Weigh In

SW has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a "hold" rating and issued a $52.00 target price on shares of Smurfit Westrock in a research report on Monday, July 29th. JPMorgan Chase & Co. decreased their target price on shares of Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada raised shares of Smurfit Westrock from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $52.00 to $58.00 in a research note on Thursday. Redburn Atlantic assumed coverage on Smurfit Westrock in a report on Friday, August 23rd. They set a "buy" rating and a $60.00 price target on the stock. Finally, Morgan Stanley began coverage on shares of Smurfit Westrock in a research note on Friday, July 19th. They issued an "overweight" rating and a $60.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.43.

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.