Tokio Marine Asset Management Co. Ltd. Buys Shares of 16,129 Smurfit Westrock Ltd (NYSE:SW)

Tokio Marine Asset Management Co. Ltd. acquired a new position in Smurfit Westrock Ltd (NYSE:SW - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm acquired 16,129 shares of the company's stock, valued at approximately $797,000.

Several other hedge funds have also recently made changes to their positions in SW. Vontobel Holding Ltd. purchased a new position in shares of Smurfit Westrock during the 3rd quarter worth approximately $62,832,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in Smurfit Westrock during the third quarter valued at $51,430,000. Patten & Patten Inc. TN bought a new stake in shares of Smurfit Westrock during the 3rd quarter valued at $49,538,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $39,627,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $29,716,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Price Performance

Shares of Smurfit Westrock stock traded up $1.60 during trading on Friday, reaching $51.66. 3,028,239 shares of the stock traded hands, compared to its average volume of 3,853,953. 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 firm has a market cap of $26.87 billion, a P/E ratio of 287.02 and a beta of 1.04. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $54.32. The firm's fifty day moving average price is $47.63.

Smurfit Westrock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock's payout ratio is 672.26%.

Analyst Ratings Changes

SW has been the topic of several analyst reports. Jefferies Financial Group reissued a "hold" rating and issued a $52.00 target price on shares of Smurfit Westrock in a report on Monday, July 29th. Morgan Stanley lifted their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an "overweight" rating in a report on Thursday. JPMorgan Chase & Co. reduced their price target on shares of Smurfit Westrock from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company lowered their price objective on 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. Finally, Citigroup began coverage on Smurfit Westrock in a report on Wednesday, October 23rd. They issued a "buy" rating and a $57.00 target price for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.00.

Smurfit Westrock 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.