Sumitomo Mitsui Trust Group Inc. Takes Position in Smurfit Westrock Ltd (NYSE:SW)

Sumitomo Mitsui Trust Group Inc. purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to its most recent filing with the SEC. The firm purchased 1,040,665 shares of the company’s stock, valued at approximately $51,430,000. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Smurfit Westrock at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vontobel Holding Ltd. purchased a new position in Smurfit Westrock during the 3rd quarter worth $62,832,000. Patten & Patten Inc. TN purchased a new position in Smurfit Westrock during the 3rd quarter worth $49,538,000. Compagnie Lombard Odier SCmA purchased a new stake in Smurfit Westrock during the 3rd quarter valued at about $39,627,000. Principal Financial Group Inc. purchased a new stake in Smurfit Westrock during the 3rd quarter valued at about $29,716,000. Finally, New York State Common Retirement Fund purchased a new stake in Smurfit Westrock during the 3rd quarter valued at about $22,299,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Smurfit Westrock Price Performance

Shares of Smurfit Westrock stock opened at $51.66 on Friday. The firm’s 50 day moving average price is $47.49. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $54.32. The firm has a market capitalization of $26.87 billion, a PE ratio of 287.00 and a beta of 1.04. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73.

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 given a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.34%. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.22%.

Wall Street Analyst Weigh In

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

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.