Synovus Financial Corp Makes New $858,000 Investment in Smurfit Westrock Ltd (NYSE:SW)

Synovus Financial Corp acquired a new position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 17,353 shares of the company's stock, valued at approximately $858,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mather Group LLC. acquired a new position in Smurfit Westrock during the third quarter worth $25,000. CVA Family Office LLC purchased a new stake in shares of Smurfit Westrock in the 3rd quarter valued at $26,000. ORG Wealth Partners LLC acquired a new position in Smurfit Westrock during the 3rd quarter worth about $32,000. Waldron Private Wealth LLC purchased a new position in Smurfit Westrock during the 3rd quarter valued at about $35,000. Finally, Cromwell Holdings LLC purchased a new position in Smurfit Westrock during the 3rd quarter valued at about $42,000. Institutional investors and hedge funds own 83.38% of the company's stock.

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 transaction of $1,371,000.00. Following the completion of the sale, the insider now directly owns 149,911 shares of the company's stock, valued at approximately $8,221,119.24. This represents a 14.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SW. Barclays increased their target price on shares of Smurfit Westrock from $60.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Argus assumed coverage on Smurfit Westrock in a research note on Thursday, December 5th. They issued a "buy" rating and a $62.00 price objective on the stock. Redburn Atlantic initiated coverage on Smurfit Westrock in a report on Friday, August 23rd. They issued a "buy" rating and a $60.00 target price for the company. Wells Fargo & Company cut their price target 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. Finally, Morgan Stanley increased their price target on Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $60.00.

Smurfit Westrock Trading Down 1.4 %

Shares of Smurfit Westrock stock traded down $0.77 during mid-day trading on Tuesday, hitting $53.93. 4,341,349 shares of the stock were exchanged, compared to its average volume of 4,913,235. The company has a market cap of $28.05 billion, a PE ratio of 303.91 and a beta of 1.04. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $56.99. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average of $50.88.

Smurfit Westrock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.3025 per share. The ex-dividend date is Friday, November 15th. This represents a $1.21 annualized dividend and a dividend yield of 2.24%. Smurfit Westrock's payout ratio is currently 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.