Asset Management One Co. Ltd. Takes $9.19 Million Position in Smurfit Westrock Ltd (NYSE:SW)

Asset Management One Co. Ltd. bought a new stake in Smurfit Westrock Ltd (NYSE:SW) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 185,904 shares of the company’s stock, valued at approximately $9,187,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SW. Vontobel Holding Ltd. acquired a new stake in shares of Smurfit Westrock in the third quarter valued at $62,832,000. Compagnie Lombard Odier SCmA bought a new position in Smurfit Westrock in the third quarter valued at about $39,627,000. New York State Common Retirement Fund bought a new position in Smurfit Westrock in the third quarter valued at about $22,299,000. Boston Common Asset Management LLC bought a new position in Smurfit Westrock in the third quarter valued at about $16,262,000. Finally, New York State Teachers Retirement System bought a new position in Smurfit Westrock in the third quarter valued at about $14,835,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SW shares. Royal Bank of Canada upgraded Smurfit Westrock from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $52.00 to $58.00 in a report on Thursday, October 31st. Morgan Stanley started coverage on Smurfit Westrock in a report on Friday, July 19th. They issued an “overweight” rating and a $60.00 price target on the stock. Redburn Atlantic started coverage on Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price target on the stock. Wells Fargo & Company decreased their price target 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. Finally, Jefferies Financial Group restated a “hold” rating and set a $52.00 target price on shares of Smurfit Westrock in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Smurfit Westrock presently has an average rating of “Moderate Buy” and a consensus price target of $57.43.

Smurfit Westrock Trading Up 0.5 %

Shares of SW opened at $53.45 on Friday. The company has a market capitalization of $27.76 billion, a PE ratio of 296.94 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The stock’s 50-day moving average is $46.99. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $54.32.

Smurfit Westrock Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is currently 672.22%.

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.