Ameriprise Financial Inc. Has $379.80 Million Position in Smurfit Westrock PLC $SW

Key Points

• Ameriprise Financial Inc. reduced its stake in Smurfit Westrock PLC by 6.4%, now holding approximately 1.61% of the company, valued at $379.8 million.
• Smurfit Westrock's recent earnings report showed an EPS of $0.45, missing estimates but reporting a revenue increase of 167.4% year-over-year.
• The company announced a quarterly dividend of $0.4308 per share, representing an annualized yield of 3.9% with a high payout ratio of 260.61%.

Ameriprise Financial Inc. decreased its stake in Smurfit Westrock PLC (NYSE:SW - Free Report) by 6.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,428,762 shares of the company's stock after selling 574,718 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.61% of Smurfit Westrock worth $379,800,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SW. Zions Bancorporation National Association UT purchased a new stake in Smurfit Westrock in the 1st quarter worth approximately $29,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Smurfit Westrock during the 4th quarter worth $30,000. Tsfg LLC acquired a new position in shares of Smurfit Westrock during the 1st quarter worth $30,000. IMA Advisory Services Inc. acquired a new position in shares of Smurfit Westrock during the 1st quarter worth $30,000. Finally, Versant Capital Management Inc increased its stake in shares of Smurfit Westrock by 54.0% during the 1st quarter. Versant Capital Management Inc now owns 779 shares of the company's stock worth $35,000 after purchasing an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 83.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SW. Morgan Stanley increased their price target on shares of Smurfit Westrock from $51.00 to $53.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Jefferies Financial Group upgraded shares of Smurfit Westrock from a "hold" rating to a "buy" rating and increased their price target for the stock from $44.00 to $55.00 in a research note on Monday, June 16th. Barclays dropped their price target on shares of Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Royal Bank Of Canada dropped their price target on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Wells Fargo & Company increased their price target on shares of Smurfit Westrock from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $57.78.

Smurfit Westrock Price Performance

SW stock traded down $0.56 during trading on Wednesday, hitting $45.75. 1,816,574 shares of the stock traded hands, compared to its average volume of 3,751,527. Smurfit Westrock PLC has a one year low of $37.01 and a one year high of $56.99. The stock has a market cap of $23.88 billion, a price-to-earnings ratio of 69.27 and a beta of 1.06. The company has a 50 day simple moving average of $45.11 and a 200 day simple moving average of $45.06. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $7.88 billion. Smurfit Westrock's quarterly revenue was up 167.4% on a year-over-year basis. Equities analysts expect that Smurfit Westrock PLC will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 15th will be given a dividend of $0.4308 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.8%. Smurfit Westrock's dividend payout ratio is 260.61%.

Smurfit Westrock Company 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.