167,559 Shares in Smurfit Westrock Ltd (NYSE:SW) Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 167,559 shares of the company's stock, valued at approximately $8,281,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. acquired a new position in shares of Smurfit Westrock during the third quarter worth about $62,832,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in Smurfit Westrock during the 3rd quarter worth approximately $51,430,000. Patten & Patten Inc. TN purchased a new stake in shares of Smurfit Westrock in the 3rd quarter valued at approximately $49,538,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Smurfit Westrock in the 3rd quarter valued at $39,627,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $29,716,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Price Performance

NYSE SW traded down $0.62 on Thursday, hitting $50.37. 5,760,216 shares of the company's stock were exchanged, compared to its average volume of 5,255,667. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $47.39. The stock has a market cap of $26.20 billion, a price-to-earnings ratio of 279.74 and a beta of 1.04. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $54.32.

Smurfit Westrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be given a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's payout ratio is 672.26%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. 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. Wells Fargo & Company decreased their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating for the company in a research note on Monday, October 7th. 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 for the company. Morgan Stanley upped their target price on Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Citigroup began coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a "buy" rating and a $57.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $58.00.

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.