Cibc World Markets Corp Buys 292,268 Shares of Smurfit Westrock Ltd (NYSE:SW)

Cibc World Markets Corp boosted its holdings in Smurfit Westrock Ltd (NYSE:SW - Free Report) by 426.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 360,766 shares of the company's stock after buying an additional 292,268 shares during the quarter. Cibc World Markets Corp owned approximately 0.07% of Smurfit Westrock worth $19,431,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in SW. Assetmark Inc. grew its stake in shares of Smurfit Westrock by 16.6% in the fourth quarter. Assetmark Inc. now owns 1,390 shares of the company's stock worth $75,000 after purchasing an additional 198 shares during the last quarter. Stephens Inc. AR lifted its holdings in Smurfit Westrock by 3.7% during the 4th quarter. Stephens Inc. AR now owns 5,616 shares of the company's stock worth $302,000 after buying an additional 199 shares during the period. Principal Securities Inc. grew its position in shares of Smurfit Westrock by 49.1% in the 4th quarter. Principal Securities Inc. now owns 695 shares of the company's stock valued at $37,000 after buying an additional 229 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of Smurfit Westrock by 117.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company's stock valued at $28,000 after buying an additional 279 shares during the period. Finally, DAVENPORT & Co LLC raised its position in shares of Smurfit Westrock by 0.5% during the fourth quarter. DAVENPORT & Co LLC now owns 55,898 shares of the company's stock worth $3,011,000 after acquiring an additional 299 shares during the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

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Smurfit Westrock Stock Down 3.3 %

NYSE:SW traded down $1.50 on Friday, hitting $44.21. The stock had a trading volume of 9,219,220 shares, compared to its average volume of 4,575,224. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99. The business's fifty day moving average is $51.41 and its 200 day moving average is $50.61. The company has a market cap of $23.08 billion, a PE ratio of 80.39 and a beta of 0.99.

Smurfit Westrock (NYSE:SW - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. On average, equities research analysts expect that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th were issued a dividend of $0.4308 per share. This is a positive change from Smurfit Westrock's previous quarterly dividend of $0.30. This represents a $1.72 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Friday, February 14th. Smurfit Westrock's payout ratio is currently 312.73%.

Insider Transactions at Smurfit Westrock

In related news, insider Alvaro Henao sold 4,000 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $53.90, for a total transaction of $215,600.00. Following the transaction, the insider now directly owns 44,361 shares in the company, valued at approximately $2,391,057.90. The trade was a 8.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ken Bowles sold 24,225 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the completion of the sale, the insider now owns 111,458 shares of the company's stock, valued at approximately $6,136,877.48. This trade represents a 17.85 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.49% of the company's stock.

Wall Street Analysts Forecast Growth

SW has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday, December 11th. Morgan Stanley lowered their target price on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. Argus began coverage on shares of Smurfit Westrock in a research report on Thursday, December 5th. They set a "buy" rating and a $62.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Smurfit Westrock from $65.00 to $69.00 and gave the stock an "overweight" rating in a research report on Friday, November 29th. Finally, Truist Financial started coverage on Smurfit Westrock in a research report on Tuesday, January 21st. They set a "buy" rating and a $62.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Smurfit Westrock currently has an average rating of "Moderate Buy" and an average price target of $60.70.

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.