Swedbank AB Takes $13.66 Million Position in Smurfit Westrock Ltd (NYSE:SW)

Swedbank AB purchased a new position in Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 276,328 shares of the company’s stock, valued at approximately $13,656,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mather Group LLC. purchased a new stake in Smurfit Westrock during the third quarter worth $25,000. CVA Family Office LLC purchased a new position in shares of Smurfit Westrock in the 3rd quarter valued at $26,000. ORG Wealth Partners LLC bought a new position in shares of Smurfit Westrock in the 3rd quarter worth $32,000. Waldron Private Wealth LLC purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $35,000. Finally, Cromwell Holdings LLC bought a new stake in Smurfit Westrock during the third quarter valued at about $42,000. 83.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SW. JPMorgan Chase & Co. cut their price objective on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Citigroup started coverage on Smurfit Westrock in a report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target for the company. Wells Fargo & Company cut their price objective 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. 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 research note on Thursday, November 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Smurfit Westrock Stock Down 1.3 %

Shares of NYSE SW opened at $55.53 on Wednesday. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $28.88 billion, a price-to-earnings ratio of 308.52 and a beta of 1.04. The firm has a 50 day moving average price of $49.07.

Smurfit Westrock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be issued a dividend of $0.3025 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 annualized dividend and a dividend yield of 2.18%. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.26%.

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.