Victory Capital Management Inc. Invests $5.96 Million in Smurfit Westrock Ltd (NYSE:SW)

Victory Capital Management Inc. bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 120,505 shares of the company’s stock, valued at approximately $5,955,000.

Other large investors also recently made changes to their positions in the company. Private Management Group Inc. bought a new position in shares of Smurfit Westrock during the third quarter worth approximately $9,405,000. Catalytic Wealth RIA LLC bought a new position in Smurfit Westrock during the 3rd quarter worth $520,000. M&G PLC bought a new position in Smurfit Westrock during the 3rd quarter worth $9,253,000. Nisa Investment Advisors LLC bought a new position in Smurfit Westrock during the 3rd quarter worth $542,000. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in Smurfit Westrock during the 3rd quarter worth $51,430,000. Institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Stock Performance

Shares of SW opened at $56.65 on Friday. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $56.99. The firm has a fifty day simple moving average of $48.48. 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 company has a market cap of $29.47 billion, a price-to-earnings ratio of 312.46 and a beta of 1.04.

Smurfit Westrock Announces Dividend

The company also recently disclosed 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. This represents a $1.21 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is 672.26%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $58.00 price objective on shares of Smurfit Westrock in a research note on Friday, November 15th. Morgan Stanley raised their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Wells Fargo & Company lowered their price objective on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered their price objective on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Finally, Citigroup began coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.