Artemis Investment Management LLP Acquires 123,029 Shares of Smurfit Westrock PLC (NYSE:SW)

Artemis Investment Management LLP grew its holdings in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 30.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 521,905 shares of the company's stock after purchasing an additional 123,029 shares during the quarter. Artemis Investment Management LLP owned approximately 0.10% of Smurfit Westrock worth $23,517,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Old North State Wealth Management LLC increased its stake in shares of Smurfit Westrock by 2.5% during the 1st quarter. Old North State Wealth Management LLC now owns 79,363 shares of the company's stock worth $3,578,000 after purchasing an additional 1,926 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Smurfit Westrock by 1.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 121,793 shares of the company's stock valued at $5,488,000 after buying an additional 1,490 shares during the period. Adams Natural Resources Fund Inc. lifted its position in shares of Smurfit Westrock by 101.7% during the 1st quarter. Adams Natural Resources Fund Inc. now owns 83,300 shares of the company's stock valued at $3,753,000 after buying an additional 42,000 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in Smurfit Westrock by 3.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 204,249 shares of the company's stock worth $9,203,000 after acquiring an additional 7,455 shares during the last quarter. Finally, Nilsine Partners LLC lifted its holdings in Smurfit Westrock by 18.4% during the first quarter. Nilsine Partners LLC now owns 5,305 shares of the company's stock valued at $239,000 after purchasing an additional 826 shares during the last quarter. 83.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SW shares. Truist Financial cut their price objective on shares of Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Barclays decreased their price objective on Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price objective on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley reduced their target price on Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Finally, Royal Bank Of Canada decreased their target price on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $58.50.

Insiders Place Their Bets

In other Smurfit Westrock news, Director Irial Finan bought 15,180 shares of Smurfit Westrock stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average price of $39.21 per share, with a total value of $595,207.80. Following the acquisition, the director now owns 54,893 shares in the company, valued at approximately $2,152,354.53. This trade represents a 38.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.49% of the company's stock.

Smurfit Westrock Price Performance

Shares of NYSE:SW opened at $42.73 on Friday. Smurfit Westrock PLC has a one year low of $37.01 and a one year high of $56.99. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.43 and a quick ratio of 0.93. The firm has a market capitalization of $22.30 billion, a price-to-earnings ratio of 35.02 and a beta of 1.04. The company's fifty day moving average price is $43.04 and its 200-day moving average price is $47.50.

Smurfit Westrock (NYSE:SW - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.73 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.08. Smurfit Westrock had a return on equity of 7.38% and a net margin of 1.98%. The business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.41 billion. The business's revenue was up 161.3% compared to the same quarter last year. On average, equities research analysts anticipate that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, May 19th were given a dividend of $0.4308 per share. This represents a yield of 3.7%. The ex-dividend date of this dividend was Friday, May 16th. Smurfit Westrock's payout ratio is currently 140.98%.

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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