Envestnet Asset Management Inc. Sells 173,365 Shares of Smurfit Westrock PLC (NYSE:SW)

Envestnet Asset Management Inc. decreased its position in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 25.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 518,689 shares of the company's stock after selling 173,365 shares during the period. Envestnet Asset Management Inc. owned about 0.10% of Smurfit Westrock worth $23,372,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in shares of Smurfit Westrock by 0.4% during the first quarter. Principal Financial Group Inc. now owns 589,825 shares of the company's stock worth $26,578,000 after buying an additional 2,355 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Smurfit Westrock by 1,462.4% during the first quarter. Teacher Retirement System of Texas now owns 76,043 shares of the company's stock worth $3,426,000 after buying an additional 71,176 shares in the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Smurfit Westrock by 1.7% during the first quarter. DAVENPORT & Co LLC now owns 56,862 shares of the company's stock worth $2,562,000 after buying an additional 964 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Smurfit Westrock by 2.0% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,361 shares of the company's stock worth $2,675,000 after buying an additional 1,136 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Smurfit Westrock by 1.0% in the first quarter. Vontobel Holding Ltd. now owns 1,421,506 shares of the company's stock valued at $64,053,000 after purchasing an additional 14,472 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group raised shares of Smurfit Westrock from a "hold" rating to a "buy" rating and raised their price target for the company from $44.00 to $55.00 in a report on Monday, June 16th. Royal Bank Of Canada lowered their price target on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Truist Financial raised their price target on shares of Smurfit Westrock from $50.00 to $54.00 and gave the company a "buy" rating in a report on Friday, July 11th. Wells Fargo & Company raised their price target on shares of Smurfit Westrock from $43.00 to $45.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Finally, Morgan Stanley raised their price objective on shares of Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Smurfit Westrock presently has a consensus rating of "Moderate Buy" and an average price target of $57.90.

Insider Buying and Selling at Smurfit Westrock

In other news, Director Irial Finan purchased 15,180 shares of Smurfit Westrock stock in a transaction dated Tuesday, May 6th. The shares were bought at an average cost of $39.21 per share, with a total value of $595,207.80. Following the completion of the transaction, the director directly owned 54,893 shares in the company, valued at $2,152,354.53. This trade represents a 38.22% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.49% of the stock is currently owned by corporate insiders.

Smurfit Westrock Trading Down 2.0%

Shares of NYSE SW traded down $0.93 during midday trading on Friday, reaching $45.15. 574,134 shares of the stock were exchanged, compared to its average volume of 3,664,973. The business has a 50-day simple moving average of $44.56 and a two-hundred day simple moving average of $46.75. The company has a market capitalization of $23.57 billion, a price-to-earnings ratio of 37.02 and a beta of 1.02. Smurfit Westrock PLC has a 12 month low of $37.01 and a 12 month high of $56.99. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.43 and a quick ratio of 0.93.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The company had revenue of $7.66 billion for the quarter, compared to analysts' expectations of $7.41 billion. Smurfit Westrock had a net margin of 1.98% and a return on equity of 7.38%. Smurfit Westrock's quarterly revenue was up 161.3% on a year-over-year basis. As a group, equities research analysts expect that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Announces Dividend

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

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.