Tidal Investments LLC purchased a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 34,015 shares of the company's stock, valued at approximately $1,681,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp acquired a new stake in shares of Smurfit Westrock during the third quarter worth about $967,582,000. Geode Capital Management LLC purchased a new position in Smurfit Westrock in the third quarter valued at $627,244,000. FMR LLC acquired a new position in Smurfit Westrock during the 3rd quarter worth $431,653,000. Mizuho Securities USA LLC purchased a new stake in Smurfit Westrock during the 3rd quarter worth about $386,712,000. Finally, Soros Fund Management LLC acquired a new stake in Smurfit Westrock in the 3rd quarter valued at about $340,848,000. 83.38% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Smurfit Westrock
In related news, insider Saverio Mayer sold 25,000 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $54.84, for a total value of $1,371,000.00. Following the transaction, the insider now owns 149,911 shares in the company, valued at $8,221,119.24. The trade was a 14.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.49% of the company's stock.
Smurfit Westrock Trading Down 4.1 %
Shares of Smurfit Westrock stock traded down $2.19 on Wednesday, hitting $51.74. The stock had a trading volume of 4,314,505 shares, compared to its average volume of 4,908,029. The business has a 50 day moving average price of $51.14. The firm has a market cap of $26.91 billion, a PE ratio of 287.46 and a beta of 1.04. 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 52-week low of $38.55 and a 52-week high of $56.99.
Smurfit Westrock Announces Dividend
The company 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 $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's payout ratio is currently 672.22%.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Citigroup initiated coverage on shares of Smurfit Westrock in a research note on Wednesday, October 23rd. They set a "buy" rating and a $57.00 target price on the stock. Wells Fargo & Company dropped their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating on the stock in a research report on Monday, October 7th. Morgan Stanley lifted their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Argus started coverage on Smurfit Westrock in a report on Thursday, December 5th. They issued a "buy" rating and a $62.00 target price on the stock. Finally, Barclays lifted their price target on Smurfit Westrock from $60.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Smurfit Westrock has an average rating of "Moderate Buy" and a consensus price target of $60.00.
Read Our Latest Report on SW
Smurfit Westrock Profile
(
Free Report)
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.
Further Reading
Before you consider Smurfit Westrock, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Smurfit Westrock wasn't on the list.
While Smurfit Westrock currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
