Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 14,608 Smurfit Westrock Ltd (NYSE:SW)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Smurfit Westrock Ltd (NYSE:SW) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 14,608 shares of the company’s stock, valued at approximately $722,000.

Several other large investors have also modified their holdings of SW. Private Management Group Inc. purchased a new stake in shares of Smurfit Westrock during the third quarter valued at $9,405,000. Catalytic Wealth RIA LLC purchased a new stake in Smurfit Westrock during the third quarter valued at about $520,000. M&G PLC acquired a new position in shares of Smurfit Westrock in the third quarter worth about $9,253,000. Nisa Investment Advisors LLC acquired a new position in shares of Smurfit Westrock in the third quarter worth about $542,000. Finally, Amalgamated Bank acquired a new stake in shares of Smurfit Westrock during the third quarter valued at approximately $4,854,000. 83.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Morgan Stanley raised their target price on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research report on Friday. JPMorgan Chase & Co. lowered their target price on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Redburn Atlantic assumed coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Smurfit Westrock Price Performance

SW opened at $53.45 on Tuesday. The stock has a market cap of $27.80 billion, a P/E ratio of 296.96 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $54.32. The business’s 50-day moving average price is $47.63.

Smurfit Westrock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.26%.

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.