Gateway Investment Advisers LLC Decreases Holdings in Smurfit Westrock Ltd (NYSE:SW)

Gateway Investment Advisers LLC trimmed its position in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Smurfit Westrock by 29.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,487 shares of the company's stock valued at $2,309,000 after buying an additional 9,581 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Smurfit Westrock during the third quarter worth $221,026,000. US Bancorp DE boosted its position in shares of Smurfit Westrock by 10.0% during the fourth quarter. US Bancorp DE now owns 17,602 shares of the company's stock worth $948,000 after acquiring an additional 1,601 shares during the last quarter. Geode Capital Management LLC grew its stake in Smurfit Westrock by 12.5% during the fourth quarter. Geode Capital Management LLC now owns 14,328,052 shares of the company's stock valued at $769,977,000 after acquiring an additional 1,594,939 shares in the last quarter. Finally, 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 acquiring an additional 16,790 shares during the last quarter. 83.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Smurfit Westrock

In related news, Director Irial Finan purchased 15,180 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $39.21 per share, with a total value of $595,207.80. Following the completion of the purchase, the director now owns 54,893 shares of the company's stock, valued at approximately $2,152,354.53. The trade was a 38.22% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.49% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Royal Bank of Canada dropped their price objective 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. Barclays decreased their target price on 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 dropped their price target on 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 reduced their price objective on Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. Finally, Truist Financial decreased 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. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, Smurfit Westrock currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.20.

Smurfit Westrock Trading Up 0.7%

Shares of NYSE SW traded up $0.29 during trading hours on Friday, hitting $43.36. 1,561,446 shares of the company traded hands, compared to its average volume of 4,552,353. The company's 50 day moving average price is $42.58 and its 200 day moving average price is $48.64. Smurfit Westrock Ltd has a 12 month low of $37.01 and a 12 month high of $56.99. The stock has a market capitalization of $22.63 billion, a price-to-earnings ratio of 78.84 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.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. The business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.41 billion. The company's quarterly revenue was up 161.3% on a year-over-year basis. On average, equities research analysts anticipate that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, May 19th will be paid a $0.4308 dividend. This represents a yield of 3.7%. The ex-dividend date is Friday, May 16th. Smurfit Westrock's payout ratio is currently 140.98%.

Smurfit Westrock Company 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.