CIBC Asset Management Inc lifted its stake in shares of Smurfit Westrock PLC (NYSE:SW – Free Report) by 64.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,301 shares of the company’s stock after acquiring an additional 52,418 shares during the quarter. CIBC Asset Management Inc’s holdings in Smurfit Westrock were worth $5,155,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in shares of Smurfit Westrock by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 9,054,029 shares of the company’s stock valued at $350,119,000 after acquiring an additional 360,078 shares in the last quarter. AXQ Capital LP acquired a new stake in shares of Smurfit Westrock in the fourth quarter valued at $470,000. New Mexico Educational Retirement Board increased its holdings in Smurfit Westrock by 7.1% during the 4th quarter. New Mexico Educational Retirement Board now owns 23,985 shares of the company’s stock worth $927,000 after purchasing an additional 1,600 shares during the period. Thompson Siegel & Walmsley LLC increased its holdings in Smurfit Westrock by 4.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,554,035 shares of the company’s stock worth $98,765,000 after purchasing an additional 104,219 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Smurfit Westrock by 7.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 185,336 shares of the company’s stock worth $7,167,000 after purchasing an additional 12,522 shares during the period. 83.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have weighed in on SW shares. Weiss Ratings restated a “hold (c)” rating on shares of Smurfit Westrock in a report on Friday, May 29th. The Goldman Sachs Group began coverage on Smurfit Westrock in a research report on Tuesday, March 24th. They set a “buy” rating and a $49.00 price objective for the company. Barclays lowered their price objective on Smurfit Westrock from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, May 21st. Royal Bank Of Canada lowered their price objective on Smurfit Westrock from $54.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. lowered their price objective on Smurfit Westrock from $64.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.00.
Smurfit Westrock Stock Performance
Shares of Smurfit Westrock stock opened at $41.34 on Friday. Smurfit Westrock PLC has a one year low of $32.73 and a one year high of $52.65. The company has a market cap of $21.68 billion, a PE ratio of 57.42 and a beta of 0.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.44. The business has a 50-day simple moving average of $40.28 and a 200-day simple moving average of $40.73.
Smurfit Westrock (NYSE:SW – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Smurfit Westrock had a return on equity of 4.96% and a net margin of 1.22%.The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.57 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that Smurfit Westrock PLC will post 2.32 EPS for the current fiscal year.
Smurfit Westrock Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be paid a dividend of $0.4523 per share. The ex-dividend date is Friday, May 15th. This represents a $1.81 annualized dividend and a yield of 4.4%. Smurfit Westrock’s payout ratio is presently 251.39%.
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.
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