Old North State Wealth Management LLC Purchases New Position in Smurfit Westrock Ltd (NYSE:SW)

Old North State Wealth Management LLC purchased a new stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 76,651 shares of the company's stock, valued at approximately $3,790,000. Smurfit Westrock comprises 2.1% of Old North State Wealth Management LLC's portfolio, making the stock its 13th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in SW. Mather Group LLC. purchased a new position in Smurfit Westrock during the 3rd quarter valued at about $25,000. CVA Family Office LLC acquired a new position in shares of Smurfit Westrock in the third quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new stake in Smurfit Westrock during the 3rd quarter worth approximately $32,000. Waldron Private Wealth LLC purchased a new position in Smurfit Westrock in the 3rd quarter valued at approximately $35,000. Finally, Cromwell Holdings LLC acquired a new position in shares of Smurfit Westrock in the third quarter worth $42,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Trading Up 0.6 %

Shares of SW stock traded up $0.29 during mid-day trading on Monday, reaching $51.75. The stock had a trading volume of 4,212,767 shares, compared to its average volume of 5,410,747. The firm has a market capitalization of $26.88 billion, a P/E ratio of 285.89 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.18 and a current ratio of 1.48. Smurfit Westrock Ltd has a 12-month low of $38.55 and a 12-month high of $52.76. The firm's 50-day moving average is $46.53.

Smurfit Westrock Announces Dividend

The business 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 dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Friday, November 15th. Smurfit Westrock's payout ratio is currently 672.22%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a "hold" rating and issued a $52.00 target price on shares of Smurfit Westrock in a report on Monday, July 29th. Morgan Stanley initiated coverage on shares of Smurfit Westrock in a research report on Friday, July 19th. They set an "overweight" rating and a $60.00 price objective for the company. Citigroup initiated coverage on Smurfit Westrock in a report on Wednesday, October 23rd. They issued a "buy" rating and a $57.00 target price on the stock. JPMorgan Chase & Co. decreased their price target on Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. Finally, Wells Fargo & Company lowered their price objective on Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating for the company in a research report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.43.

Smurfit Westrock 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.