Lowe Brockenbrough & Co. Inc. Takes $1.70 Million Position in Smurfit Westrock Ltd (NYSE:SW)

Lowe Brockenbrough & Co. Inc. acquired a new stake in shares of Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 34,449 shares of the company’s stock, valued at approximately $1,702,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SW. New York State Common Retirement Fund acquired a new stake in shares of Smurfit Westrock during the 3rd quarter worth about $22,299,000. Hartford Financial Management Inc. purchased a new position in shares of Smurfit Westrock during the third quarter valued at approximately $596,000. Stephens Inc. AR purchased a new position in shares of Smurfit Westrock during the third quarter valued at approximately $268,000. US Bancorp DE acquired a new stake in Smurfit Westrock during the third quarter worth approximately $791,000. Finally, New York State Teachers Retirement System purchased a new stake in Smurfit Westrock in the 3rd quarter worth approximately $14,835,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Stock Down 0.1 %

Smurfit Westrock stock opened at $51.46 on Friday. The stock has a fifty day simple moving average of $46.53. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $52.76. The company has a quick ratio of 2.18, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $26.73 billion, a price-to-earnings ratio of 285.89 and a beta of 1.04.

Smurfit Westrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be given a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.22%.

Analyst Ratings Changes

SW has been the topic of several analyst reports. Morgan Stanley initiated coverage on Smurfit Westrock in a report on Friday, July 19th. They set an “overweight” rating and a $60.00 price objective on the stock. Jefferies Financial Group restated a “hold” rating and issued a $52.00 price target on shares of Smurfit Westrock in a report on Monday, July 29th. Redburn Atlantic started coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective for the company. JPMorgan Chase & Co. decreased their target price 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. Finally, Citigroup assumed coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price target for the company. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.43.

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.