Redwood Grove Capital LLC Buys New Position in Smurfit Westrock Ltd (NYSE:SW)

Redwood Grove Capital LLC acquired a new position in Smurfit Westrock Ltd (NYSE:SW - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 318,594 shares of the company's stock, valued at approximately $15,745,000. Smurfit Westrock comprises approximately 4.3% of Redwood Grove Capital LLC's portfolio, making the stock its 16th biggest holding. Redwood Grove Capital LLC owned 0.06% of Smurfit Westrock as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SW. Private Management Group Inc. bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at approximately $9,405,000. Intech Investment Management LLC bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at approximately $597,000. Moors & Cabot Inc. bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at approximately $520,000. Citigroup Inc. bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at approximately $77,207,000. Finally, Catalytic Wealth RIA LLC bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at approximately $520,000. Institutional investors own 83.38% of the company's stock.

Smurfit Westrock Price Performance

Shares of SW stock traded up $0.20 during mid-day trading on Thursday, hitting $54.77. The stock had a trading volume of 2,428,572 shares, compared to its average volume of 5,043,868. Smurfit Westrock Ltd has a 12-month low of $38.55 and a 12-month high of $56.99. The firm has a market capitalization of $28.49 billion, a price-to-earnings ratio of 304.28 and a beta of 1.04. The stock has a 50-day moving average of $50.04. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73.

Smurfit Westrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be issued a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's dividend payout ratio is 672.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Citigroup assumed coverage on Smurfit Westrock in a research report on Wednesday, October 23rd. They set a "buy" rating and a $57.00 target price on the stock. Morgan Stanley boosted their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Wells Fargo & Company dropped their price objective on Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating for the company in a report on Monday, October 7th. Royal Bank of Canada restated an "outperform" rating and set a $58.00 price objective on shares of Smurfit Westrock in a report on Friday, November 15th. Finally, Argus assumed coverage on Smurfit Westrock in a report on Thursday. They set a "buy" rating and a $62.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.00.

Insiders Place Their Bets

In related news, insider Saverio Mayer sold 25,000 shares of the company's stock in a transaction on Monday, December 2nd. The stock was 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 directly owns 149,911 shares in the company, valued at $8,221,119.24. This represents a 14.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.49% of the company's stock.

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.