Allianz Asset Management GmbH Sells 39,359 Shares of Smurfit Westrock PLC $SW

Key Points

• Allianz Asset Management GmbH reduced its stake in Smurfit Westrock PLC by 39.3%, selling 39,359 shares, and now holds 60,734 shares valued at approximately $2.62 million.
• Smurfit Westrock reported a net margin of 1.14% and a revenue of $7.94 billion for the last quarter, although it missed EPS estimates by $0.12.
• The company declared a quarterly dividend of $0.4308 per share, resulting in an annual yield of 4.0%, but has a high dividend payout ratio of 260.61%.

Allianz Asset Management GmbH reduced its stake in Smurfit Westrock PLC (NYSE:SW - Free Report) by 39.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,734 shares of the company's stock after selling 39,359 shares during the period. Allianz Asset Management GmbH's holdings in Smurfit Westrock were worth $2,621,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Czech National Bank boosted its holdings in shares of Smurfit Westrock by 6.7% in the second quarter. Czech National Bank now owns 121,218 shares of the company's stock worth $5,231,000 after acquiring an additional 7,657 shares during the period. Centennial Wealth Advisory LLC bought a new position in shares of Smurfit Westrock in the second quarter worth $481,000. Foresight Group Ltd Liability Partnership bought a new position in shares of Smurfit Westrock in the first quarter worth $26,028,000. Great Lakes Advisors LLC bought a new position in shares of Smurfit Westrock in the first quarter worth $13,119,000. Finally, Perpetual Ltd bought a new position in shares of Smurfit Westrock in the second quarter worth $425,000. 83.38% of the stock is owned by institutional investors.

Smurfit Westrock Trading Up 0.1%

NYSE SW opened at $43.05 on Friday. The stock's 50-day simple moving average is $43.76 and its two-hundred day simple moving average is $43.84. Smurfit Westrock PLC has a twelve month low of $37.01 and a twelve month high of $56.99. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $22.48 billion, a price-to-earnings ratio of 65.23 and a beta of 1.09.

Smurfit Westrock (NYSE:SW - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.12). Smurfit Westrock had a net margin of 1.14% and a return on equity of 5.90%. The firm had revenue of $7.94 billion for the quarter, compared to analysts' expectations of $7.88 billion. The business's revenue for the quarter was up 167.4% compared to the same quarter last year. Research analysts forecast that Smurfit Westrock PLC will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, August 15th were given a dividend of $0.4308 per share. The ex-dividend date was Friday, August 15th. This represents a $1.72 dividend on an annualized basis and a yield of 4.0%. Smurfit Westrock's dividend payout ratio (DPR) is presently 260.61%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SW. Seaport Res Ptn upgraded Smurfit Westrock from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 6th. Morgan Stanley increased their price objective on Smurfit Westrock from $51.00 to $53.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Wells Fargo & Company set a $52.00 price objective on Smurfit Westrock and gave the stock an "overweight" rating in a research report on Tuesday, October 7th. UBS Group began coverage on Smurfit Westrock in a research report on Monday, September 15th. They issued a "buy" rating and a $60.00 price objective on the stock. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Smurfit Westrock in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $57.90.

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.

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