Adage Capital Partners GP L.L.C. Has $32.57 Million Holdings in Smurfit Westrock Ltd (NYSE:SW)

Adage Capital Partners GP L.L.C. boosted its stake in Smurfit Westrock Ltd (NYSE:SW - Free Report) by 30.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 604,618 shares of the company's stock after acquiring an additional 139,529 shares during the period. Adage Capital Partners GP L.L.C. owned 0.12% of Smurfit Westrock worth $32,565,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SW. Norges Bank purchased a new position in Smurfit Westrock during the 4th quarter valued at about $1,300,041,000. Boston Partners acquired a new position in shares of Smurfit Westrock during the fourth quarter worth about $304,377,000. Victory Capital Management Inc. lifted its position in Smurfit Westrock by 4,456.7% during the 4th quarter. Victory Capital Management Inc. now owns 5,491,092 shares of the company's stock worth $295,750,000 after acquiring an additional 5,370,587 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Smurfit Westrock in the third quarter valued at $221,026,000. Finally, FIL Ltd grew its stake in shares of Smurfit Westrock by 68.2% during the fourth quarter. FIL Ltd now owns 10,962,433 shares of the company's stock valued at $590,853,000 after acquiring an additional 4,444,704 shares in the last quarter. 83.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Smurfit Westrock

In other Smurfit Westrock news, insider Alvaro Henao sold 4,000 shares of Smurfit Westrock stock in a transaction on Monday, February 24th. The stock was sold at an average price of $53.90, for a total transaction of $215,600.00. Following the completion of the transaction, the insider now directly owns 44,361 shares of the company's stock, valued at approximately $2,391,057.90. This trade represents a 8.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ken Bowles sold 24,225 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the completion of the sale, the insider now directly owns 111,458 shares in the company, valued at approximately $6,136,877.48. The trade was a 17.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.49% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on SW shares. Truist Financial reduced their price objective on shares of Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company decreased their target price on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley decreased their target price on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. Royal Bank of Canada set a $57.00 price target on Smurfit Westrock in a research note on Tuesday, April 22nd. Finally, Citigroup raised their target price on shares of Smurfit Westrock from $61.00 to $62.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.70.

Smurfit Westrock Stock Performance

Shares of NYSE:SW traded down $0.57 during trading on Wednesday, reaching $41.78. The stock had a trading volume of 1,883,040 shares, compared to its average volume of 4,714,015. The stock has a fifty day simple moving average of $44.60 and a two-hundred day simple moving average of $49.74. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. Smurfit Westrock Ltd has a 52 week low of $37.01 and a 52 week high of $56.99. The firm has a market capitalization of $21.81 billion, a price-to-earnings ratio of 75.97 and a beta of 1.00.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. As a group, analysts anticipate that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 14th were given a dividend of $0.4308 per share. The ex-dividend date was Friday, February 14th. This represents a $1.72 dividend on an annualized basis and a yield of 4.12%. This is a positive change from Smurfit Westrock's previous quarterly dividend of $0.30. Smurfit Westrock's payout ratio is 312.73%.

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.