Cresset Asset Management LLC Grows Stake in Smurfit Westrock PLC $SW

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 holdings in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 35.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,217 shares of the company's stock after acquiring 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.

Other large investors have also recently bought and sold shares of the company. NBC Securities Inc. grew its holdings in Smurfit Westrock by 127,600.0% during the 1st quarter. NBC Securities Inc. now owns 1,277 shares of the company's stock worth $57,000 after acquiring an additional 1,276 shares during the period. Ameriprise Financial Inc. grew its holdings in Smurfit Westrock by 1.7% during the 4th quarter. Ameriprise Financial Inc. now owns 9,003,480 shares of the company's stock worth $484,927,000 after acquiring an additional 149,210 shares during the period. QRG Capital Management Inc. grew its holdings in Smurfit Westrock by 106.3% during the 1st quarter. QRG Capital Management Inc. now owns 11,709 shares of the company's stock worth $528,000 after acquiring an additional 6,032 shares during the period. State of Alaska Department of Revenue grew its holdings in Smurfit Westrock by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 57,939 shares of the company's stock worth $2,610,000 after acquiring an additional 1,600 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Smurfit Westrock by 36.5% during the 1st quarter. Farther Finance Advisors LLC now owns 5,038 shares of the company's stock worth $230,000 after acquiring an additional 1,346 shares during the period. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SW. Wells Fargo & Company increased their price target on Smurfit Westrock from $45.00 to $46.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Royal Bank Of Canada reduced their target price on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. 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 research note on Monday, June 16th. Morgan Stanley raised their target price on Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Barclays reduced their target price on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Smurfit Westrock currently has an average rating of "Moderate Buy" and an average target price of $57.78.

Smurfit Westrock Stock Performance

Shares of Smurfit Westrock stock traded up $1.9970 during mid-day trading on Friday, hitting $45.6870. 4,850,915 shares of the stock were exchanged, compared to its average volume of 4,298,755. Smurfit Westrock PLC has a 12 month low of $37.01 and a 12 month high of $56.99. The company has a 50-day simple moving average of $44.99 and a 200 day simple moving average of $45.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.45. The company has a market capitalization of $23.85 billion, a P/E ratio of 22.85 and a beta of 1.06.

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

Smurfit Westrock Dividend Announcement

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 paid a dividend of $0.4308 per share. This represents a $1.72 annualized dividend and a dividend yield of 3.8%. Smurfit Westrock's payout ratio is currently 260.61%.

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.