State of New Jersey Common Pension Fund D Acquires Shares of 193,382 Smurfit Westrock Ltd (NYSE:SW)

State of New Jersey Common Pension Fund D acquired a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 193,382 shares of the company's stock, valued at approximately $9,557,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vontobel Holding Ltd. bought a new position in Smurfit Westrock during the third quarter worth $62,832,000. Compagnie Lombard Odier SCmA acquired a new stake in Smurfit Westrock during the 3rd quarter worth about $39,627,000. Principal Financial Group Inc. bought a new position in shares of Smurfit Westrock in the 3rd quarter worth about $29,716,000. New York State Common Retirement Fund acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at about $22,299,000. Finally, Boston Common Asset Management LLC bought a new stake in shares of Smurfit Westrock during the 3rd quarter valued at about $16,262,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Price Performance

Shares of NYSE:SW traded down $0.08 during midday trading on Monday, hitting $52.31. 1,949,131 shares of the company's stock were exchanged, compared to its average volume of 5,303,208. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $54.32. The stock has a market cap of $27.17 billion, a P/E ratio of 290.17 and a beta of 1.04. The business's 50 day moving average price is $47.09.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be issued a $0.3025 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.31%. Smurfit Westrock's dividend payout ratio is presently 672.22%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SW shares. Citigroup began coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a "buy" rating and a $57.00 price target on the stock. Royal Bank of Canada raised shares of Smurfit Westrock from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from $52.00 to $58.00 in a research note on Thursday, October 31st. Redburn Atlantic began coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They issued a "buy" rating and a $60.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group restated a "hold" rating and issued a $52.00 target price on shares of Smurfit Westrock in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $57.43.

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.