New York State Common Retirement Fund Acquires Shares of 451,217 Smurfit Westrock Ltd (NYSE:SW)

New York State Common Retirement Fund acquired a new position in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 451,217 shares of the company's stock, valued at approximately $22,299,000. New York State Common Retirement Fund owned approximately 0.09% of Smurfit Westrock at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vontobel Holding Ltd. acquired a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $62,832,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $39,627,000. Boston Common Asset Management LLC acquired a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $16,262,000. New York State Teachers Retirement System acquired a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $14,835,000. Finally, Swedbank AB acquired a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $13,656,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on SW. Redburn Atlantic began coverage on Smurfit Westrock in a report on Friday, August 23rd. They issued a "buy" rating and a $60.00 target price on the stock. Royal Bank of Canada raised Smurfit Westrock from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $52.00 to $58.00 in a report on Thursday, October 31st. Morgan Stanley initiated coverage on Smurfit Westrock in a research report on Friday, July 19th. They issued an "overweight" rating and a $60.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $52.00 price objective on shares of Smurfit Westrock in a research report on Monday, July 29th. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.43.

Smurfit Westrock Stock Performance

SW stock traded up $0.07 during midday trading on Tuesday, hitting $51.82. 4,262,861 shares of the company's stock were exchanged, compared to its average volume of 5,397,242. The stock's fifty day moving average is $46.64. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The company has a market cap of $26.91 billion, a P/E ratio of 287.52 and a beta of 1.04. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $52.76.

Smurfit Westrock Dividend Announcement

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