Engineers Gate Manager LP Acquires 761,035 Shares of Smurfit Westrock PLC $SW

Key Points

• Engineers Gate Manager LP increased its Smurfit Westrock stake by 2,986.4% in the second quarter, purchasing 761,035 shares and bringing its holdings to 786,518 shares valued at approximately $36.4 million.
• Smurfit Westrock shares fell 4.5% to $42.27, while the company’s latest quarterly earnings of $0.35 per share missed estimates of $0.42 despite revenue of $8.03 billion exceeding forecasts.
• The company declared a quarterly dividend of $0.4523, equivalent to an annualized yield of about 4.3%. Analysts maintain a “Moderate Buy” consensus, with an average price target of $57.69.

Engineers Gate Manager LP lifted its holdings in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 2,986.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 786,518 shares of the company's stock after buying an additional 761,035 shares during the quarter. Engineers Gate Manager LP owned about 0.15% of Smurfit Westrock worth $36,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wahed Invest LLC raised its holdings in Smurfit Westrock by 1.6% during the 4th quarter. Wahed Invest LLC now owns 13,721 shares of the company's stock valued at $531,000 after acquiring an additional 221 shares during the period. Benjamin Edwards Inc. boosted its holdings in shares of Smurfit Westrock by 4.1% in the second quarter. Benjamin Edwards Inc. now owns 6,776 shares of the company's stock worth $292,000 after acquiring an additional 264 shares during the period. AXA S.A. boosted its holdings in shares of Smurfit Westrock by 1.3% in the second quarter. AXA S.A. now owns 22,283 shares of the company's stock worth $962,000 after acquiring an additional 285 shares during the period. Mariner LLC boosted its holdings in shares of Smurfit Westrock by 0.9% in the third quarter. Mariner LLC now owns 31,906 shares of the company's stock worth $1,358,000 after acquiring an additional 294 shares during the period. Finally, Creative Planning grew its position in shares of Smurfit Westrock by 5.0% in the third quarter. Creative Planning now owns 7,082 shares of the company's stock valued at $301,000 after purchasing an additional 338 shares in the last quarter. 83.38% of the stock is owned by institutional investors.

Smurfit Westrock Trading Down 4.5%

Shares of SW opened at $42.27 on Thursday. The firm has a market cap of $22.17 billion, a price-to-earnings ratio of 44.97, a PEG ratio of 1.42 and a beta of 0.95. The firm has a 50 day moving average price of $46.58 and a 200-day moving average price of $43.39. Smurfit Westrock PLC has a fifty-two week low of $32.73 and a fifty-two week high of $52.65. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.96 and a current ratio of 1.45.

Smurfit Westrock (NYSE:SW - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). Smurfit Westrock had a return on equity of 4.60% and a net margin of 1.59%.The business had revenue of $8.03 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the firm earned ($0.05) earnings per share. The business's revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts forecast that Smurfit Westrock PLC will post 1.98 earnings per share for the current year.

Smurfit Westrock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a $0.4523 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.81 annualized dividend and a dividend yield of 4.3%. Smurfit Westrock's payout ratio is currently 192.55%.

Analyst Upgrades and Downgrades

SW has been the topic of a number of analyst reports. Seaport Research Partners reiterated a "buy" rating and set a $54.00 price objective on shares of Smurfit Westrock in a research note on Wednesday, August 12th. Morgan Stanley raised their target price on Smurfit Westrock from $57.00 to $58.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. Deutsche Bank Aktiengesellschaft began coverage on Smurfit Westrock in a report on Tuesday, June 23rd. They set a "buy" rating and a $57.00 target price for the company. Wells Fargo & Company upped their price target on Smurfit Westrock from $52.00 to $55.00 and gave the company an "overweight" rating in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada increased their price target on shares of Smurfit Westrock from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, July 30th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $57.69.

About Smurfit Westrock

Smurfit Westrock plc NYSE: SW is a global provider of paper and corrugated packaging solutions. The company designs and manufactures products such as corrugated shipping containers, consumer packaging, folding cartons, paper bags, displays and other fiber-based packaging used across a range of industries.

The company also produces containerboard and other paper products that support its packaging operations, along with recycling and packaging-related services. Its customers include businesses in the food and beverage, consumer products, industrial, e-commerce and retail sectors.

Want to see what other hedge funds are holding SW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Smurfit Westrock PLC (NYSE:SW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.