Wharton Business Group LLC Cuts Stock Position in Smurfit Westrock Ltd (NYSE:SW)

Wharton Business Group LLC lessened its stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 47.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,094 shares of the company's stock after selling 60,492 shares during the period. Wharton Business Group LLC's holdings in Smurfit Westrock were worth $3,614,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SW. AMF Tjanstepension AB bought a new stake in Smurfit Westrock during the 3rd quarter valued at $8,519,000. Creative Planning bought a new stake in Smurfit Westrock during the 3rd quarter valued at $824,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth $1,110,000. Signaturefd LLC bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth $277,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth $870,000. Institutional investors and hedge funds own 83.38% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an "overweight" rating in a research note on Friday, November 29th. Argus assumed coverage on shares of Smurfit Westrock in a research note on Thursday, December 5th. They issued a "buy" rating and a $62.00 target price for the company. Morgan Stanley lifted their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, November 14th. Truist Financial assumed coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They set a "buy" rating and a $62.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $58.00 price objective on shares of Smurfit Westrock in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.70.

Insider Transactions at Smurfit Westrock

In other news, insider Ken Bowles sold 24,225 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $55.06, for a total value of $1,333,828.50. Following the transaction, the insider now owns 111,458 shares in the company, valued at $6,136,877.48. This represents a 17.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alvaro Henao sold 4,000 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $53.90, for a total transaction of $215,600.00. Following the completion of the transaction, the insider now owns 44,361 shares in the company, valued at $2,391,057.90. This trade represents a 8.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,225 shares of company stock worth $2,920,429 in the last quarter. Company insiders own 0.49% of the company's stock.

Smurfit Westrock Stock Down 3.3 %

Smurfit Westrock stock traded down $1.75 during mid-day trading on Thursday, reaching $51.77. The stock had a trading volume of 2,431,667 shares, compared to its average volume of 3,350,020. The company has a market capitalization of $26.95 billion, a price-to-earnings ratio of 94.13 and a beta of 1.02. The company has a 50-day moving average price of $53.60 and a two-hundred day moving average price of $50.39. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $56.99. 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 (NYSE:SW - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts expect that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be paid a $0.4308 dividend. This represents a $1.72 annualized dividend and a dividend yield of 3.33%. The ex-dividend date is Friday, February 14th. This is a boost from Smurfit Westrock's previous quarterly dividend of $0.30. Smurfit Westrock's dividend payout ratio is 312.73%.

About Smurfit Westrock

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.