State of Tennessee Department of Treasury Raises Stock Holdings in Smurfit Westrock Ltd (NYSE:SW)

State of Tennessee Department of Treasury increased its stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 219,242 shares of the company's stock after purchasing an additional 14,613 shares during the period. State of Tennessee Department of Treasury's holdings in Smurfit Westrock were worth $11,808,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SW. Retirement Wealth Solutions LLC purchased a new stake in shares of Smurfit Westrock during the 4th quarter valued at about $25,000. Versant Capital Management Inc bought a new stake in Smurfit Westrock during the fourth quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB grew its position in Smurfit Westrock by 117.7% during 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. Deseret Mutual Benefit Administrators purchased a new stake in Smurfit Westrock during the fourth quarter valued at approximately $30,000. Finally, Spire Wealth Management bought a new position in Smurfit Westrock in the fourth quarter worth approximately $36,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Smurfit Westrock

In other news, insider Ken Bowles sold 24,225 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now owns 111,458 shares of the company's stock, valued at approximately $6,136,877.48. The trade was a 17.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alvaro Henao sold 4,000 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $2,391,057.90. This represents a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SW. Truist Financial reduced their price objective on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday. Morgan Stanley dropped their price target on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. Citigroup raised their price objective on shares of Smurfit Westrock from $61.00 to $62.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Royal Bank of Canada set a $57.00 target price on shares of Smurfit Westrock in a research note on Tuesday. Finally, Wells Fargo & Company cut their price target on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Smurfit Westrock presently has an average rating of "Moderate Buy" and an average target price of $58.70.

Smurfit Westrock Trading Up 1.0 %

Shares of SW stock opened at $41.95 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $21.90 billion, a price-to-earnings ratio of 76.27 and a beta of 1.00. Smurfit Westrock Ltd has a 12-month low of $37.01 and a 12-month high of $56.99. The stock's 50-day moving average price is $45.57 and its 200-day moving average price is $49.81.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.67 by ($0.33). Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. Equities research analysts predict that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 14th were paid a dividend of $0.4308 per share. This is an increase from Smurfit Westrock's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.72 dividend on an annualized basis and a yield of 4.11%. Smurfit Westrock's dividend payout ratio is presently 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.

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