Pictet Asset Management Holding SA Sells 265,898 Shares of Smurfit Westrock Ltd (NYSE:SW)

Pictet Asset Management Holding SA trimmed its holdings in Smurfit Westrock Ltd (NYSE:SW - Free Report) by 5.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,916,005 shares of the company's stock after selling 265,898 shares during the quarter. Pictet Asset Management Holding SA owned about 0.94% of Smurfit Westrock worth $264,776,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Smurfit Westrock by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 78,871,259 shares of the company's stock worth $4,249,613,000 after acquiring an additional 820,362 shares during the period. Norges Bank purchased a new stake in Smurfit Westrock in the fourth quarter worth approximately $1,300,041,000. State Street Corp bought a new stake in Smurfit Westrock in the 3rd quarter worth approximately $967,582,000. Geode Capital Management LLC purchased a new stake in Smurfit Westrock during the 3rd quarter valued at $627,244,000. Finally, FMR LLC bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at $431,653,000. Hedge funds and other institutional investors own 83.38% of the company's stock.

Smurfit Westrock Price Performance

Shares of SW traded down $0.01 during trading hours on Tuesday, reaching $45.05. 1,146,934 shares of the stock traded hands, compared to its average volume of 3,669,504. The company has a market cap of $23.52 billion, a P/E ratio of 81.91 and a beta of 0.99. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The company's 50-day moving average price is $50.35 and its two-hundred day moving average price is $50.69. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $56.99.

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Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. On average, analysts anticipate that Smurfit Westrock Ltd will post 3.25 earnings per share for the current year.

Smurfit Westrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th were paid a $0.4308 dividend. This represents a $1.72 annualized dividend and a yield of 3.82%. This is an increase from Smurfit Westrock's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 14th. Smurfit Westrock's dividend payout ratio is presently 312.73%.

Analyst Ratings Changes

SW has been the subject of several research analyst reports. Argus initiated coverage on Smurfit Westrock in a report on Thursday, December 5th. They issued a "buy" rating and a $62.00 price objective for the company. Truist Financial initiated coverage on Smurfit Westrock in a research note on Tuesday, January 21st. They set a "buy" rating and a $62.00 price target for the company. Barclays increased their price objective on shares of Smurfit Westrock from $60.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. Morgan Stanley reduced their target price on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Finally, Citigroup increased their price target on shares of Smurfit Westrock from $61.00 to $62.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $60.70.

Insider Buying and Selling at Smurfit Westrock

In related news, insider Ken Bowles sold 24,225 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $55.06, for a total value of $1,333,828.50. Following the sale, the insider now owns 111,458 shares in the company, valued at approximately $6,136,877.48. The trade was a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alvaro Henao sold 4,000 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $53.90, for a total transaction of $215,600.00. Following the sale, the insider now directly owns 44,361 shares in the company, valued at approximately $2,391,057.90. The trade was a 8.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.49% of the company's stock.

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.