Public Employees Retirement System of Ohio Invests $9.28 Million in Smurfit Westrock Ltd (NYSE:SW)

Public Employees Retirement System of Ohio purchased a new stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 187,764 shares of the company's stock, valued at approximately $9,279,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Groupama Asset Managment purchased a new stake in shares of Smurfit Westrock in the 3rd quarter worth approximately $16,639,000. Nomura Asset Management Co. Ltd. bought a new stake in Smurfit Westrock during the 3rd quarter valued at $7,942,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Smurfit Westrock in the 3rd quarter valued at $910,000. MML Investors Services LLC bought a new position in shares of Smurfit Westrock in the 3rd quarter worth $410,000. Finally, Kimelman & Baird LLC bought a new stake in Smurfit Westrock during the third quarter valued at about $511,000. 83.38% of the stock is owned by institutional investors.

Smurfit Westrock Stock Performance

Shares of SW traded up $0.27 during midday trading on Friday, hitting $53.73. The company had a trading volume of 2,440,098 shares, compared to its average volume of 4,920,510. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99. The firm has a market capitalization of $27.95 billion, a price-to-earnings ratio of 298.52 and a beta of 1.04. 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 company has a 50-day moving average price of $50.57.

Smurfit Westrock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be issued a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's dividend payout ratio (DPR) is presently 672.26%.

Insider Transactions at Smurfit Westrock

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following the completion of the transaction, the insider now owns 149,911 shares in the company, valued at $8,221,119.24. This represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.49% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on SW shares. Argus started 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. JPMorgan Chase & Co. increased their price target on Smurfit Westrock from $65.00 to $69.00 and gave the company an "overweight" rating in a research note on Friday, November 29th. Wells Fargo & Company cut their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday, October 7th. Barclays boosted their target price on shares of Smurfit Westrock from $60.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Redburn Atlantic began coverage on Smurfit Westrock in a research note on Friday, August 23rd. They issued a "buy" rating and a $60.00 target price for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Smurfit Westrock presently has an average rating of "Moderate Buy" and an average price target of $60.00.

Smurfit Westrock Company Profile

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.