Chicago Capital LLC Buys Shares of 7,075 Smurfit Westrock PLC (NYSE:SW)

Chicago Capital LLC purchased a new stake in Smurfit Westrock PLC (NYSE:SW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,075 shares of the company's stock, valued at approximately $319,000.

A number of other hedge funds have also modified their holdings of the business. QRG Capital Management Inc. raised its holdings in Smurfit Westrock by 106.3% in the 1st quarter. QRG Capital Management Inc. now owns 11,709 shares of the company's stock valued at $528,000 after buying an additional 6,032 shares during the period. Sowell Financial Services LLC acquired a new stake in shares of Smurfit Westrock during the first quarter valued at about $490,000. Exchange Traded Concepts LLC increased its position in shares of Smurfit Westrock by 20.7% during the first quarter. Exchange Traded Concepts LLC now owns 1,721 shares of the company's stock valued at $78,000 after acquiring an additional 295 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Smurfit Westrock by 3.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 16,353 shares of the company's stock valued at $737,000 after acquiring an additional 488 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Smurfit Westrock by 9.5% in the 1st quarter. Handelsbanken Fonder AB now owns 144,600 shares of the company's stock worth $6,516,000 after acquiring an additional 12,600 shares during the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Smurfit Westrock

In other news, Director Irial Finan bought 15,180 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average price of $39.21 per share, for a total transaction of $595,207.80. Following the completion of the purchase, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Smurfit Westrock Stock Down 1.0%

Shares of NYSE SW opened at $42.82 on Wednesday. The stock has a market cap of $22.35 billion, a P/E ratio of 35.10 and a beta of 1.04. The business's fifty day simple moving average is $42.84 and its 200-day simple moving average is $48.04. Smurfit Westrock PLC has a 12-month low of $37.01 and a 12-month 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 issued its quarterly 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. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.41 billion. Smurfit Westrock had a return on equity of 7.38% and a net margin of 1.98%. The company's revenue for the quarter was up 161.3% on a year-over-year basis. As a group, equities analysts predict that Smurfit Westrock PLC will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, May 19th will be issued a $0.4308 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a yield of 3.7%. Smurfit Westrock's dividend payout ratio (DPR) is 140.98%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of Smurfit Westrock from a "hold" rating to a "buy" rating and lifted their target price for the company from $44.00 to $55.00 in a report on Monday. Truist Financial lowered their price target on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley dropped their price objective on Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. Royal Bank Of Canada decreased their target price on 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 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. 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.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $58.50.

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.

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