Principal Financial Group Inc. Invests $29.72 Million in Smurfit Westrock Ltd (NYSE:SW)

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

A number of other institutional investors have also recently bought and sold shares of SW. Mather Group LLC. acquired a new stake in shares of Smurfit Westrock during the third quarter worth about $25,000. CVA Family Office LLC acquired a new stake in Smurfit Westrock during the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC bought a new position in Smurfit Westrock in the third quarter valued at approximately $32,000. Waldron Private Wealth LLC acquired a new position in shares of Smurfit Westrock in the third quarter valued at approximately $35,000. Finally, Cromwell Holdings LLC bought a new stake in shares of Smurfit Westrock during the third quarter worth $42,000. Institutional investors and hedge funds own 83.38% of the company's stock.

Insider Activity

In other news, insider Saverio Mayer sold 25,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the sale, the insider now owns 149,911 shares in the company, valued at approximately $8,221,119.24. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.49% of the company's stock.

Smurfit Westrock Trading Up 1.1 %

Shares of Smurfit Westrock stock traded up $0.60 on Wednesday, reaching $54.53. 1,009,502 shares of the company were exchanged, compared to its average volume of 4,892,930. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $56.99. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The firm's 50-day moving average is $51.79. The firm has a market cap of $28.36 billion, a P/E ratio of 302.96 and a beta of 1.04.

Smurfit Westrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th were paid a $0.3025 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.21 annualized dividend and a yield of 2.22%. Smurfit Westrock's dividend payout ratio is 672.22%.

Analyst Ratings Changes

SW has been the topic of several research reports. Argus assumed coverage on shares of Smurfit Westrock in a research report on Thursday, December 5th. They issued a "buy" rating and a $62.00 price objective on the stock. Wells Fargo & Company cut their price target on Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday, October 7th. JPMorgan Chase & Co. increased their price objective on Smurfit Westrock from $65.00 to $69.00 and gave the stock an "overweight" rating in a report on Friday, November 29th. Barclays lifted their target price on Smurfit Westrock from $60.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. Finally, Morgan Stanley upped their price target on Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.00.

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.