Weiss Asset Management LP Takes $1.69 Million Position in Smurfit Westrock Ltd (NYSE:SW)

Weiss Asset Management LP acquired a new stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 34,269 shares of the company's stock, valued at approximately $1,694,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Street Corp purchased a new position in Smurfit Westrock during the third quarter worth approximately $967,582,000. FMR LLC acquired a new stake in shares of Smurfit Westrock in the 3rd quarter worth $431,653,000. Mizuho Securities USA LLC purchased a new position in shares of Smurfit Westrock during the 3rd quarter worth $386,712,000. Soros Fund Management LLC acquired a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $340,848,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of Smurfit Westrock in the third quarter valued at about $151,212,000. Institutional investors and hedge funds own 83.38% of the company's stock.

Smurfit Westrock Stock Down 0.3 %

NYSE:SW traded down $0.16 on Friday, reaching $54.61. 1,633,315 shares of the company's stock were exchanged, compared to its average volume of 3,410,253. The stock has a market cap of $28.41 billion, a price-to-earnings ratio of 303.41 and a beta of 1.04. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week 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 business has a fifty day simple moving average of $50.13.

Smurfit Westrock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be paid a dividend of $0.3025 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.22%. Smurfit Westrock's payout ratio is 672.26%.

Insider Activity at Smurfit Westrock

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 149,911 shares in the company, valued at $8,221,119.24. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.49% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Redburn Atlantic initiated coverage on shares of Smurfit Westrock in a report on Friday, August 23rd. They issued a "buy" rating and a $60.00 target price on the stock. 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. Citigroup assumed coverage on Smurfit Westrock in a research report on Wednesday, October 23rd. They issued a "buy" rating and a $57.00 target price on the stock. Argus started coverage on Smurfit Westrock in a report on Thursday. They set a "buy" rating and a $62.00 price target for the company. Finally, Morgan Stanley boosted their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Smurfit Westrock presently has a consensus rating of "Moderate Buy" and an average price target of $59.00.

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.