Korea Investment CORP Lowers Stock Position in Smurfit Westrock Ltd (NYSE:SW)

Korea Investment CORP lessened its stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 44.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 303,250 shares of the company's stock after selling 243,586 shares during the period. Korea Investment CORP owned about 0.06% of Smurfit Westrock worth $16,333,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans purchased a new stake in Smurfit Westrock in the third quarter worth about $957,000. Intech Investment Management LLC bought a new stake in shares of Smurfit Westrock in the 3rd quarter valued at about $597,000. Cerity Partners LLC purchased a new stake in shares of Smurfit Westrock in the 3rd quarter worth approximately $1,124,000. Bank of Montreal Can bought a new position in shares of Smurfit Westrock during the third quarter valued at approximately $20,342,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Smurfit Westrock during the third quarter valued at approximately $19,812,000. Hedge funds and other institutional investors own 83.38% of the company's stock.

Insider Buying and Selling

In other Smurfit Westrock news, insider Ken Bowles sold 24,225 shares of Smurfit Westrock stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the completion of the transaction, the insider now owns 111,458 shares in the company, valued at approximately $6,136,877.48. This trade represents a 17.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alvaro Henao sold 4,000 shares of the company's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $53.90, for a total value of $215,600.00. Following the completion of the sale, the insider now owns 44,361 shares in the company, valued at $2,391,057.90. The trade was a 8.27 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SW. Truist Financial began coverage on Smurfit Westrock in a report on Tuesday, January 21st. They set a "buy" rating and a $62.00 target price for the company. Citigroup raised their price objective on Smurfit Westrock from $61.00 to $62.00 and gave the company a "buy" rating in a research report on Monday, January 6th. 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 report on Wednesday, December 11th. Argus assumed coverage on shares of Smurfit Westrock in a report on Thursday, December 5th. They issued a "buy" rating and a $62.00 price target on the stock. Finally, Morgan Stanley reduced their price objective 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. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Smurfit Westrock presently has a consensus rating of "Moderate Buy" and an average target price of $60.70.

Smurfit Westrock Stock Performance

NYSE:SW traded up $0.48 during trading hours on Tuesday, hitting $45.54. 4,606,787 shares of the company were exchanged, compared to its average volume of 4,790,329. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.89. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $56.99. The stock has a market capitalization of $23.77 billion, a price-to-earnings ratio of 82.80 and a beta of 0.99. The company's 50 day moving average price is $50.35 and its 200-day moving average price is $50.69.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced 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%. As a group, research analysts forecast that Smurfit Westrock Ltd will post 3.25 earnings per share for the current year.

Smurfit Westrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th were issued a $0.4308 dividend. The ex-dividend date was Friday, February 14th. 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 dividend yield of 3.78%. Smurfit Westrock's dividend payout ratio is currently 312.73%.

Smurfit Westrock 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.