New York State Teachers Retirement System acquired a new position in shares of Smurfit Westrock Ltd (NYSE:SW – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 300,177 shares of the company’s stock, valued at approximately $14,835,000.
Other large investors have also recently bought and sold shares of the company. Vontobel Holding Ltd. acquired a new position in Smurfit Westrock during the 3rd quarter valued at about $62,832,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Smurfit Westrock during the third quarter valued at approximately $39,627,000. Boston Common Asset Management LLC bought a new stake in shares of Smurfit Westrock during the third quarter valued at approximately $16,262,000. Swedbank AB bought a new stake in shares of Smurfit Westrock during the third quarter valued at approximately $13,656,000. Finally, AMF Tjanstepension AB bought a new stake in shares of Smurfit Westrock during the third quarter valued at approximately $8,519,000. Institutional investors own 83.38% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on SW. Royal Bank of Canada raised Smurfit Westrock from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $52.00 to $58.00 in a report on Thursday. Redburn Atlantic began coverage on Smurfit Westrock in a report on Friday, August 23rd. They set a “buy” rating and a $60.00 price target on the stock. Morgan Stanley began coverage on Smurfit Westrock in a report on Friday, July 19th. They set an “overweight” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Wells Fargo & Company dropped their target price on 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Smurfit Westrock has an average rating of “Moderate Buy” and a consensus target price of $57.43.
Smurfit Westrock Stock Performance
Shares of SW stock opened at $51.46 on Friday. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $52.76. The firm has a market cap of $26.73 billion, a PE ratio of 285.89 and a beta of 1.04. The firm’s fifty day moving average price is $46.53. The company has a current ratio of 1.48, a quick ratio of 2.18 and a debt-to-equity ratio of 0.73.
Smurfit Westrock Announces Dividend
The company 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 dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a dividend 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%.
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.
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