Bank of New York Mellon Corp Has $319.99 Million Position in Smurfit Westrock PLC (NYSE:SW)

Bank of New York Mellon Corp decreased its holdings in Smurfit Westrock PLC (NYSE:SW - Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,101,388 shares of the company's stock after selling 186,995 shares during the quarter. Bank of New York Mellon Corp owned about 1.36% of Smurfit Westrock worth $319,989,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Smurfit Westrock in the 4th quarter valued at approximately $30,000. Tsfg LLC bought a new stake in shares of Smurfit Westrock during the first quarter worth $30,000. Versant Capital Management Inc boosted its position in Smurfit Westrock by 54.0% during the first quarter. Versant Capital Management Inc now owns 779 shares of the company's stock valued at $35,000 after acquiring an additional 273 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of Smurfit Westrock during the first quarter valued at about $40,000. Finally, Huntington National Bank purchased a new stake in Smurfit Westrock in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 83.38% of the company's stock.

Smurfit Westrock Price Performance

Shares of NYSE SW traded down $0.18 during mid-day trading on Wednesday, reaching $46.95. The company's stock had a trading volume of 928,778 shares, compared to its average volume of 4,263,084. Smurfit Westrock PLC has a 52 week low of $37.01 and a 52 week 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 stock has a fifty day moving average of $43.72 and a two-hundred day moving average of $47.07. The firm has a market capitalization of $24.51 billion, a PE ratio of 38.49 and a beta of 1.02.

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

Smurfit Westrock Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on SW. 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 research report on Friday, May 2nd. Wells Fargo & Company decreased their target price on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. 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 research note on Tuesday. Barclays lowered their target price on shares of Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Finally, Jefferies Financial Group upgraded shares of Smurfit Westrock from a "hold" rating to a "buy" rating and boosted their target price for the company from $44.00 to $55.00 in a research note on Monday, June 16th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Smurfit Westrock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.30.

Insider Activity

In related news, Director Irial Finan purchased 15,180 shares of Smurfit Westrock stock in a transaction dated Tuesday, May 6th. The stock was bought at an average cost of $39.21 per share, with a total value of $595,207.80. Following the purchase, the director owned 54,893 shares in the company, valued at approximately $2,152,354.53. The trade was a 38.22% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.49% of the company's stock.

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.