Swiss National Bank Makes New $76.08 Million Investment in Smurfit Westrock Ltd (NYSE:SW)

Swiss National Bank bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,539,497 shares of the company's stock, valued at approximately $76,082,000. Swiss National Bank owned 0.30% of Smurfit Westrock at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SW. Private Management Group Inc. purchased a new position in shares of Smurfit Westrock in the third quarter valued at $9,405,000. Catalytic Wealth RIA LLC bought a new stake in Smurfit Westrock in the 3rd quarter worth approximately $520,000. M&G PLC bought a new stake in Smurfit Westrock during the third quarter valued at about $9,253,000. Nisa Investment Advisors LLC bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $542,000. Finally, Amalgamated Bank bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $4,854,000. 83.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on SW shares. Redburn Atlantic initiated coverage on Smurfit Westrock in a research note on Friday, August 23rd. They set a "buy" rating and a $60.00 price target on the stock. Wells Fargo & Company dropped their target price on Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating on the stock in a report on Monday, October 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $58.00 price objective on shares of Smurfit Westrock in a research report on Friday, November 15th. JPMorgan Chase & Co. decreased 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 reiterated a "hold" rating and issued a $52.00 target price on shares of Smurfit Westrock in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Smurfit Westrock presently has an average rating of "Moderate Buy" and an average price target of $58.00.

Smurfit Westrock Stock Performance

Shares of NYSE:SW traded up $2.54 during midday trading on Wednesday, hitting $55.70. 7,856,185 shares of the stock were exchanged, compared to its average volume of 5,197,284. The firm has a market cap of $28.97 billion, a PE ratio of 295.24 and a beta of 1.04. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $55.80. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The business's 50-day simple moving average is $48.01.

Smurfit Westrock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's dividend payout ratio is presently 672.26%.

Smurfit Westrock Company 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.