Public Sector Pension Investment Board purchased a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,064 shares of the company's stock, valued at approximately $893,000.
Other hedge funds also recently made changes to their positions in the company. Private Management Group Inc. bought a new stake in Smurfit Westrock during the third quarter valued at $9,405,000. Intech Investment Management LLC acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at about $597,000. Moors & Cabot Inc. bought a new stake in shares of Smurfit Westrock during the 3rd quarter valued at about $520,000. Citigroup Inc. acquired a new stake in Smurfit Westrock during the third quarter worth approximately $77,207,000. Finally, Catalytic Wealth RIA LLC bought a new stake in Smurfit Westrock in the third quarter worth approximately $520,000. 83.38% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on SW shares. Argus initiated coverage on Smurfit Westrock in a report on Thursday. They set a "buy" rating and a $62.00 price target on the stock. Redburn Atlantic initiated coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They set a "buy" rating and a $60.00 target price on the stock. Morgan Stanley raised their price target on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upped their price objective on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an "overweight" rating in a report on Friday, November 29th. Finally, 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 research report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.00.
Get Our Latest Stock Analysis on SW
Insider Transactions at Smurfit Westrock
In other news, insider Saverio Mayer sold 25,000 shares of the stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.49% of the company's stock.
Smurfit Westrock Price Performance
Shares of NYSE SW traded down $0.16 during mid-day trading on Friday, reaching $54.61. 1,633,315 shares of the company's stock traded hands, compared to its average volume of 3,410,253. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The business has a 50-day moving average of $50.13. The company has a market capitalization of $28.41 billion, a PE ratio of 303.41 and a beta of 1.04. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $56.99.
Smurfit Westrock Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.3025 per share. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a yield of 2.22%. Smurfit Westrock's dividend payout ratio (DPR) is currently 672.26%.
About Smurfit Westrock
(
Free Report)
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.
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