Gateway Investment Advisers LLC Lowers Stock Position in Smurfit Westrock Ltd (NYSE:SW)

Gateway Investment Advisers LLC cut its position in Smurfit Westrock Ltd (NYSE:SW - Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,708 shares of the company's stock after selling 7,180 shares during the period. Gateway Investment Advisers LLC's holdings in Smurfit Westrock were worth $6,430,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in shares of Smurfit Westrock during the third quarter valued at about $221,026,000. Spire Wealth Management acquired a new stake in Smurfit Westrock in the 4th quarter valued at approximately $36,000. abrdn plc increased its holdings in Smurfit Westrock by 31.1% in the 4th quarter. abrdn plc now owns 70,801 shares of the company's stock valued at $3,818,000 after purchasing an additional 16,790 shares during the last quarter. Mather Group LLC. raised its position in Smurfit Westrock by 116.9% in the fourth quarter. Mather Group LLC. now owns 1,076 shares of the company's stock valued at $58,000 after purchasing an additional 580 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Smurfit Westrock by 29.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,487 shares of the company's stock worth $2,309,000 after purchasing an additional 9,581 shares in the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Truist Financial cut their price objective on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Barclays reduced their price target on shares of Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Wells Fargo & Company lowered their price objective on shares of Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Morgan Stanley dropped their price target on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada reduced their price objective 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. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.20.

Smurfit Westrock Stock Down 0.9%

NYSE:SW traded down $0.40 during trading hours on Wednesday, hitting $43.41. The company's stock had a trading volume of 1,403,794 shares, compared to its average volume of 4,522,170. Smurfit Westrock Ltd has a 52-week low of $37.01 and a 52-week high of $56.99. The stock has a market capitalization of $22.66 billion, a P/E ratio of 78.93 and a beta of 1.04. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The stock has a fifty day moving average of $42.54 and a 200-day moving average of $48.47.

Smurfit Westrock (NYSE:SW - Get Free Report) last released its quarterly earnings data 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. Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. The company had revenue of $7.66 billion for the quarter, compared to analysts' expectations of $7.41 billion. The company's revenue was up 161.3% on a year-over-year basis. On average, equities analysts forecast that Smurfit Westrock Ltd will post 3.25 earnings per share for the current year.

Smurfit Westrock Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, May 19th will be given 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 presently 140.98%.

Insider Buying and Selling at Smurfit Westrock

In other Smurfit Westrock news, Director Irial Finan acquired 15,180 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost 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 $2,152,354.53. This trade represents a 38.22% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.49% of the stock is currently owned by insiders.

Smurfit Westrock Profile

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.