Smurfit Westrock PLC $SW Shares Purchased by Cresset Asset Management LLC

Key Points

• Cresset Asset Management LLC increased its stake in Smurfit Westrock PLC by 35.6%, holding a total of 29,217 shares valued at approximately $1.32 million.
• Smurfit Westrock reported a net margin of 1.14% with a quarterly revenue of $7.94 billion, showcasing a significant year-over-year increase of 167.4%.
• The company announced a quarterly dividend of $0.4308 per share, equating to an annual yield of 4.1%, despite a high dividend payout ratio of 260.61%.

Cresset Asset Management LLC grew its position in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 35.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,217 shares of the company's stock after purchasing an additional 7,678 shares during the period. Cresset Asset Management LLC's holdings in Smurfit Westrock were worth $1,317,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Smurfit Westrock in the first quarter valued at $1,051,299,000. Nuveen Asset Management LLC raised its stake in shares of Smurfit Westrock by 51.6% in the fourth quarter. Nuveen Asset Management LLC now owns 20,720,312 shares of the company's stock valued at $1,115,996,000 after acquiring an additional 7,050,781 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Smurfit Westrock by 39.3% in the first quarter. JPMorgan Chase & Co. now owns 6,100,067 shares of the company's stock valued at $274,869,000 after acquiring an additional 1,721,889 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Smurfit Westrock in the fourth quarter valued at $72,812,000. Finally, Dimensional Fund Advisors LP increased its holdings in Smurfit Westrock by 32.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,551,357 shares of the company's stock valued at $191,269,000 after buying an additional 874,748 shares during the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Price Performance

Shares of SW stock traded up $0.37 during midday trading on Tuesday, reaching $46.30. 4,953,674 shares of the company traded hands, compared to its average volume of 4,382,659. The firm's 50 day simple moving average is $45.11 and its two-hundred day simple moving average is $45.06. Smurfit Westrock PLC has a 1-year low of $37.01 and a 1-year high of $56.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 0.95. The firm has a market cap of $24.18 billion, a PE ratio of 70.16 and a beta of 1.06.

Smurfit Westrock (NYSE:SW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.12). Smurfit Westrock had a net margin of 1.14% and a return on equity of 5.90%. The company had revenue of $7.94 billion for the quarter, compared to analyst estimates of $7.88 billion. The company's revenue for the quarter was up 167.4% on a year-over-year basis. On average, equities research analysts expect that Smurfit Westrock PLC will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, August 15th will be given a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.7%. Smurfit Westrock's payout ratio is 260.61%.

Analyst Ratings Changes

SW has been the topic of several recent analyst reports. Jefferies Financial Group raised Smurfit Westrock from a "hold" rating to a "buy" rating and increased their target price for the company from $44.00 to $55.00 in a report on Monday, June 16th. Royal Bank Of Canada dropped their price objective on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company raised their price objective on Smurfit Westrock from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Morgan Stanley raised their price objective on Smurfit Westrock from $51.00 to $53.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Barclays lowered their price target on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.78.

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.