Handelsbanken Fonder AB Purchases 12,600 Shares of Smurfit Westrock Ltd (NYSE:SW)

Handelsbanken Fonder AB raised its holdings in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) by 9.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,600 shares of the company's stock after purchasing an additional 12,600 shares during the period. Handelsbanken Fonder AB's holdings in Smurfit Westrock were worth $6,516,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. SG Americas Securities LLC raised its position in Smurfit Westrock by 29.7% during the 1st quarter. SG Americas Securities LLC now owns 147,280 shares of the company's stock valued at $6,636,000 after purchasing an additional 33,765 shares during the last quarter. Farther Finance Advisors LLC raised its position in Smurfit Westrock by 36.5% during the 1st quarter. Farther Finance Advisors LLC now owns 5,038 shares of the company's stock valued at $230,000 after purchasing an additional 1,346 shares during the last quarter. Curat Global LLC bought a new position in Smurfit Westrock during the 1st quarter valued at approximately $54,000. Bank & Trust Co purchased a new position in shares of Smurfit Westrock during the 1st quarter worth approximately $122,000. Finally, Kwmg LLC grew its holdings in shares of Smurfit Westrock by 0.7% during the 1st quarter. Kwmg LLC now owns 130,274 shares of the company's stock worth $5,870,000 after acquiring an additional 864 shares during the period. Institutional investors own 83.38% of the company's stock.

Wall Street Analyst Weigh In

SW has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their target price on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Morgan Stanley reduced their target price on Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Truist Financial reduced their target price 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 target price on Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, Wells Fargo & Company reduced their target price on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.20.

Smurfit Westrock Stock Down 2.5%

Shares of Smurfit Westrock stock traded down $1.05 during midday trading on Friday, hitting $41.95. The company had a trading volume of 3,757,178 shares, compared to its average volume of 4,510,613. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37. The stock has a market capitalization of $21.90 billion, a P/E ratio of 76.27 and a beta of 1.04. The company has a 50 day moving average of $42.73 and a 200 day moving average of $48.20. Smurfit Westrock Ltd has a 52-week low of $37.01 and a 52-week high of $56.99.

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

Smurfit Westrock Dividend Announcement

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

Insider Buying and Selling at Smurfit Westrock

In other Smurfit Westrock news, Director Irial Finan bought 15,180 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $39.21 per share, for a total transaction of $595,207.80. Following the purchase, the director now owns 54,893 shares in the company, valued at approximately $2,152,354.53. This trade represents a 38.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.49% of the company's stock.

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.