Nuveen LLC Makes New Investment in Smurfit Westrock PLC (NYSE:SW)

Key Points

• Nuveen LLC acquired 23,331,099 shares of Smurfit Westrock PLC, valued at approximately $1.05 billion, increasing its ownership stake to 4.47% by the end of the most recent reporting period.
• Smurfit Westrock reported a quarterly EPS of $0.45, missing the consensus estimate, but achieved a 167.4% year-over-year revenue increase with $7.94 billion in revenue.
• The company has announced a quarterly dividend of $0.4308 per share, representing a 3.9% yield and a high dividend payout ratio of 260.61%.

Nuveen LLC acquired a new stake in Smurfit Westrock PLC (NYSE:SW - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 23,331,099 shares of the company's stock, valued at approximately $1,051,299,000. Nuveen LLC owned about 4.47% of Smurfit Westrock at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new position in Smurfit Westrock in the 4th quarter valued at approximately $30,000. Zions Bancorporation National Association UT bought a new position in Smurfit Westrock in the 1st quarter valued at approximately $29,000. IMA Advisory Services Inc. bought a new position in Smurfit Westrock in the 1st quarter valued at approximately $30,000. Tsfg LLC bought a new position in Smurfit Westrock in the 1st quarter valued at approximately $30,000. Finally, Versant Capital Management Inc raised its holdings in Smurfit Westrock by 54.0% in the 1st quarter. Versant Capital Management Inc now owns 779 shares of the company's stock valued at $35,000 after buying an additional 273 shares during the last quarter. Institutional investors own 83.38% of the company's stock.

Smurfit Westrock Trading Down 1.9%

Shares of SW stock traded down $0.88 during trading hours on Thursday, hitting $44.24. 637,779 shares of the company were exchanged, compared to its average volume of 3,684,325. The firm has a market cap of $23.10 billion, a P/E ratio of 66.98 and a beta of 1.06. Smurfit Westrock PLC has a fifty-two week low of $37.01 and a fifty-two week high of $56.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.45. The company has a 50 day simple moving average of $44.97 and a two-hundred day simple moving average of $45.74.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.12). The company had revenue of $7.94 billion for the quarter, compared to analyst estimates of $7.88 billion. Smurfit Westrock had a return on equity of 5.90% and a net margin of 1.14%. The firm's revenue for the quarter was up 167.4% on a year-over-year basis. Equities analysts anticipate that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, August 15th will be given a $0.4308 dividend. This represents a $1.72 annualized dividend and a yield of 3.9%. Smurfit Westrock's payout ratio is currently 260.61%.

Wall Street Analysts Forecast Growth

SW has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of Smurfit Westrock from $51.00 to $53.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Royal Bank Of Canada lowered their price target on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Wells Fargo & Company raised their price target on shares of Smurfit Westrock from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Truist Financial raised their price target on shares of Smurfit Westrock from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Jefferies Financial Group upgraded shares of Smurfit Westrock from a "hold" rating to a "buy" rating and raised their price target for the stock from $44.00 to $55.00 in a report on Monday, June 16th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average 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.