State Street Corp Buys New Stake in Smurfit Westrock Ltd (NYSE:SW)

State Street Corp acquired a new position in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,578,763 shares of the company's stock, valued at approximately $967,582,000. State Street Corp owned 3.76% of Smurfit Westrock as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SW. FMR LLC acquired a new stake in shares of Smurfit Westrock in the third quarter valued at $431,653,000. Mizuho Securities USA LLC bought a new stake in Smurfit Westrock in the third quarter worth about $386,712,000. Charles Schwab Investment Management Inc. acquired a new stake in Smurfit Westrock in the 3rd quarter valued at about $151,212,000. Thompson Siegel & Walmsley LLC bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $129,491,000. Finally, ARGA Investment Management LP bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth approximately $92,072,000. Institutional investors own 83.38% of the company's stock.

Smurfit Westrock Stock Performance

Shares of SW stock traded down $0.16 during trading on Friday, hitting $54.61. 1,633,315 shares of the company were exchanged, compared to its average volume of 3,410,253. The business's 50-day moving average is $50.13. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $56.99. The company has a market capitalization of $28.41 billion, a price-to-earnings ratio of 303.41 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98.

Smurfit Westrock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, November 15th. Smurfit Westrock's dividend payout ratio (DPR) is presently 672.26%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Argus started coverage on shares of Smurfit Westrock in a report on Thursday. They set a "buy" rating and a $62.00 target price for the company. Redburn Atlantic assumed coverage on Smurfit Westrock in a research note on Friday, August 23rd. They set a "buy" rating and a $60.00 price objective for the company. Morgan Stanley boosted their target price on Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. increased their price target on Smurfit Westrock from $65.00 to $69.00 and gave the company an "overweight" rating in a research report on Friday, November 29th. Finally, Citigroup started 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Smurfit Westrock currently has a consensus rating of "Moderate Buy" and an average price target of $59.00.

Insider Buying and Selling

In related news, insider Saverio Mayer sold 25,000 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following the completion of the sale, the insider now directly owns 149,911 shares in the company, valued at approximately $8,221,119.24. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.49% of the stock is owned by corporate insiders.

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.