Principal Financial Group Inc. Makes New Investment in Smurfit Westrock Ltd (NYSE:SW)

Principal Financial Group Inc. acquired a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 601,298 shares of the company's stock, valued at approximately $29,716,000. Principal Financial Group Inc. owned 0.12% of Smurfit Westrock as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SW. Vontobel Holding Ltd. acquired a new stake in shares of Smurfit Westrock during the 3rd quarter valued at approximately $62,832,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Smurfit Westrock in the third quarter valued at $39,627,000. New York State Common Retirement Fund purchased a new stake in shares of Smurfit Westrock in the third quarter worth approximately $22,299,000. Boston Common Asset Management LLC bought a new position in Smurfit Westrock during the third quarter valued at approximately $16,262,000. Finally, New York State Teachers Retirement System bought a new position in shares of Smurfit Westrock in the third quarter valued at approximately $14,835,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SW. Jefferies Financial Group reissued a "hold" rating and set a $52.00 price objective on shares of Smurfit Westrock in a research report on Monday, July 29th. Redburn Atlantic assumed coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They set a "buy" rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price 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. Royal Bank of Canada upgraded Smurfit Westrock from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $52.00 to $58.00 in a report on Thursday, October 31st. Finally, Citigroup initiated 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 research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Smurfit Westrock has an average rating of "Moderate Buy" and a consensus price target of $57.43.

Smurfit Westrock Trading Up 0.3 %

Shares of SW traded up $0.14 during trading hours on Wednesday, hitting $50.80. The company had a trading volume of 1,076,620 shares, compared to its average volume of 5,230,815. The company has a market cap of $26.42 billion, a P/E ratio of 281.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $54.32. The business's fifty day moving average price is $47.18.

Smurfit Westrock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be given a dividend of $0.3025 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a yield of 2.38%. Smurfit Westrock's dividend payout ratio is currently 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.