Retirement Systems of Alabama Acquires New Holdings in Smurfit Westrock Ltd (NYSE:SW)

Retirement Systems of Alabama bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 745,869 shares of the company's stock, valued at approximately $36,861,000. Retirement Systems of Alabama owned approximately 0.14% of Smurfit Westrock at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SW. Mather Group LLC. purchased a new stake in Smurfit Westrock during the 3rd quarter worth $25,000. CVA Family Office LLC acquired a new stake in shares of Smurfit Westrock during the third quarter valued at about $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Smurfit Westrock during the third quarter worth about $32,000. Waldron Private Wealth LLC acquired a new position in shares of Smurfit Westrock in the third quarter worth about $35,000. Finally, Cromwell Holdings LLC purchased a new position in Smurfit Westrock in the third quarter valued at about $42,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Smurfit Westrock Trading Up 0.5 %

SW traded up $0.28 on Friday, hitting $53.73. 2,440,098 shares of the company's stock were exchanged, compared to its average volume of 3,256,798. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The company's fifty day simple moving average is $50.71. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month 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.

Smurfit Westrock Announces Dividend

The business also recently declared 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 dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's dividend payout ratio (DPR) is 672.26%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SW shares. Morgan Stanley lifted their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Royal Bank of Canada restated an "outperform" rating and issued a $58.00 price target on shares of Smurfit Westrock in a research note on Friday, November 15th. Barclays increased their price objective on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an "overweight" rating in a research note on Wednesday. Citigroup initiated coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They issued a "buy" rating and a $57.00 target price for the company. Finally, Redburn Atlantic assumed coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They set a "buy" rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.00.

Insider Activity at Smurfit Westrock

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the company's 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 transaction, the insider now owns 149,911 shares in the company, valued at approximately $8,221,119.24. This represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.