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

Bank of New York Mellon Corp lessened its position in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 2.6% in the 1st quarter, according to its most recent 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 approximately 1.36% of Smurfit Westrock worth $319,989,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Smurfit Westrock in the 4th quarter valued at about $1,300,041,000. Nuveen Asset Management LLC lifted its stake in shares of Smurfit Westrock by 51.6% in the 4th quarter. Nuveen Asset Management LLC now owns 20,720,312 shares of the company's stock valued at $1,115,996,000 after purchasing an additional 7,050,781 shares in the last quarter. Boston Partners acquired a new position in Smurfit Westrock during the 4th quarter worth approximately $304,377,000. FIL Ltd lifted its position in Smurfit Westrock by 68.2% during the 4th quarter. FIL Ltd now owns 10,962,433 shares of the company's stock worth $590,853,000 after acquiring an additional 4,444,704 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Smurfit Westrock by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 14,328,052 shares of the company's stock worth $769,977,000 after acquiring an additional 1,594,939 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company's stock.

Smurfit Westrock Price Performance

NYSE:SW traded up $0.81 during mid-day trading on Thursday, reaching $48.05. 3,103,770 shares of the stock were exchanged, compared to its average volume of 4,226,332. The business has a fifty day moving average price of $43.83 and a 200 day moving average price of $47.07. The firm has a market capitalization of $25.08 billion, a PE ratio of 39.38 and a beta of 1.02. Smurfit Westrock PLC has a 1-year low of $37.01 and a 1-year high of $56.99. The company has a current ratio of 1.43, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.73 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $7.41 billion. Smurfit Westrock's quarterly revenue was up 161.3% on a year-over-year basis. Research analysts expect that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

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

Insider Transactions at Smurfit Westrock

In other Smurfit Westrock news, Director Irial Finan acquired 15,180 shares of Smurfit Westrock stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays reduced their price target on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Royal Bank Of Canada reduced their price target on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Truist Financial reduced their price target on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley upped their target price on Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Jefferies Financial Group raised Smurfit Westrock from a "hold" rating to a "buy" rating and upped their target price for the company from $44.00 to $55.00 in a research report on Monday, June 16th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $57.50.

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.