Smurfit Westrock (NYSE:SW) Hits New 1-Year High – Here’s Why

Smurfit Westrock Ltd (NYSE:SW) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $55.54 and last traded at $54.94, with a volume of 3170306 shares changing hands. The stock had previously closed at $53.16.

Analyst Ratings Changes

Several brokerages have issued reports on SW. Redburn Atlantic began coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They set a “buy” rating and a $60.00 target price on the stock. Jefferies Financial Group reissued a “hold” rating and set a $52.00 target price on shares of Smurfit Westrock in a research note on Monday, July 29th. Citigroup began 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. Royal Bank of Canada restated an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a report on Friday, November 15th. Finally, Wells Fargo & Company lowered their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $58.00.

Smurfit Westrock Price Performance

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 stock has a market capitalization of $29.46 billion, a PE ratio of 312.46 and a beta of 1.04. The business has a 50 day moving average price of $48.48.

Smurfit Westrock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.3025 per share. The ex-dividend date is Friday, November 15th. This represents a $1.21 annualized dividend and a dividend yield of 2.14%. Smurfit Westrock’s dividend payout ratio (DPR) is currently 672.26%.

Hedge Funds Weigh In On Smurfit Westrock

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mather Group LLC. bought a new position in Smurfit Westrock in the third quarter valued at approximately $25,000. CVA Family Office LLC acquired a new stake in Smurfit Westrock in the third quarter worth $26,000. ORG Wealth Partners LLC acquired a new stake in Smurfit Westrock in the third quarter worth $32,000. Waldron Private Wealth LLC acquired a new stake in Smurfit Westrock in the third quarter worth $35,000. Finally, Cromwell Holdings LLC acquired a new stake in Smurfit Westrock in the third quarter worth $42,000. 83.38% of the stock is owned by institutional investors.

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.