Bank of New York Mellon Corp Decreases Stake in Smurfit Westrock PLC (NYSE:SW)

Bank of New York Mellon Corp cut its stake in Smurfit Westrock PLC (NYSE:SW - Free Report) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd grew its holdings in shares of Smurfit Westrock by 8.9% during the 4th quarter. Covestor Ltd now owns 2,308 shares of the company's stock worth $124,000 after purchasing an additional 188 shares during the period. Bessemer Group Inc. grew its holdings in shares of Smurfit Westrock by 3.0% during the 4th quarter. Bessemer Group Inc. now owns 6,771 shares of the company's stock worth $364,000 after purchasing an additional 197 shares during the period. Assetmark Inc. grew its holdings in shares of Smurfit Westrock by 16.6% during the 4th quarter. Assetmark Inc. now owns 1,390 shares of the company's stock worth $75,000 after purchasing an additional 198 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of Smurfit Westrock by 1.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 15,866 shares of the company's stock worth $855,000 after purchasing an additional 225 shares during the period. Finally, Legacy Financial Advisors Inc. grew its holdings in shares of Smurfit Westrock by 4.3% during the 4th quarter. Legacy Financial Advisors Inc. now owns 5,763 shares of the company's stock worth $310,000 after purchasing an additional 235 shares during the period. 83.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Smurfit Westrock

In other Smurfit Westrock news, Director Irial Finan bought 15,180 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $39.21 per share, with a total value of $595,207.80. Following the transaction, the director owned 54,893 shares of the company's stock, valued at approximately $2,152,354.53. The trade was a 38.22% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SW shares. Jefferies Financial Group upgraded Smurfit Westrock from a "hold" rating to a "buy" rating and raised their target price for the company from $44.00 to $55.00 in a report on Monday, June 16th. Wells Fargo & Company lowered their target price on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Royal Bank Of Canada lowered their target price on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Truist Financial decreased their price objective on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Morgan Stanley lifted their price objective on Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $57.30.

Smurfit Westrock Stock Up 0.4%

Shares of NYSE SW traded up $0.20 during midday trading on Wednesday, hitting $47.32. 2,374,626 shares of the company's stock were exchanged, compared to its average volume of 4,230,821. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.43 and a quick ratio of 0.93. Smurfit Westrock PLC has a twelve month low of $37.01 and a twelve month high of $56.99. The company has a market cap of $24.70 billion, a PE ratio of 38.79 and a beta of 1.02. The firm's fifty day simple moving average is $43.72 and its 200-day simple moving average is $47.07.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $7.41 billion. The business's revenue for the quarter was up 161.3% compared to the same quarter last year. Research analysts predict 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. Stockholders of record on Monday, May 19th were given a dividend of $0.4308 per share. This represents a dividend yield of 3.7%. The ex-dividend date was Friday, May 16th. Smurfit Westrock's dividend payout ratio (DPR) is presently 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.