Truist Financial Corp Grows Stock Position in Smurfit Westrock Ltd (NYSE:SW)

Truist Financial Corp raised its position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 110.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,613 shares of the company's stock after acquiring an additional 22,411 shares during the quarter. Truist Financial Corp's holdings in Smurfit Westrock were worth $2,295,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Retirement Wealth Solutions LLC acquired a new position in shares of Smurfit Westrock during the 4th quarter valued at $25,000. Versant Capital Management Inc bought a new stake in Smurfit Westrock in the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Smurfit Westrock by 117.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company's stock valued at $28,000 after purchasing an additional 279 shares during the period. Spire Wealth Management bought a new position in shares of Smurfit Westrock during the 4th quarter worth about $36,000. Finally, Principal Securities Inc. grew its stake in shares of Smurfit Westrock by 49.1% in the 4th quarter. Principal Securities Inc. now owns 695 shares of the company's stock valued at $37,000 after buying an additional 229 shares during the period. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Stock Performance

NYSE:SW traded up $0.46 during mid-day trading on Friday, hitting $52.15. 4,287,723 shares of the company traded hands, compared to its average volume of 3,374,095. The stock's fifty day moving average price is $53.59 and its 200-day moving average price is $50.56. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $56.99. The firm has a market cap of $27.14 billion, a price-to-earnings ratio of 94.81 and a beta of 1.02.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. Research analysts anticipate that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th will be paid a $0.4308 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.72 annualized dividend and a yield of 3.30%. This is a boost from Smurfit Westrock's previous quarterly dividend of $0.30. Smurfit Westrock's payout ratio is presently 312.73%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SW. Citigroup raised their price objective on shares of Smurfit Westrock from $61.00 to $62.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Barclays increased their price target on Smurfit Westrock from $60.00 to $68.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. Morgan Stanley raised their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Thursday, November 14th. Truist Financial began coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They issued a "buy" rating and a $62.00 price target for the company. Finally, Argus initiated coverage on Smurfit Westrock in a research note on Thursday, December 5th. They issued a "buy" rating and a $62.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $60.70.

Insider Activity at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of the 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 sale, the insider now owns 149,911 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Also, insider Ken Bowles sold 24,225 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $55.06, for a total value of $1,333,828.50. Following the transaction, the insider now owns 111,458 shares of the company's stock, valued at $6,136,877.48. This trade represents a 17.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,225 shares of company stock valued at $2,920,429. Insiders own 0.49% of the company's stock.

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.