KLP Kapitalforvaltning AS Has $8.49 Million Stock Holdings in Smurfit Westrock PLC $SW

Key Points

• KLP Kapitalforvaltning AS increased its stake in Smurfit Westrock PLC by 11.3% during Q2, now holding $8.49 million worth of shares.
• The company's quarterly earnings fell short of analysts' expectations, reporting $0.45 EPS against a consensus of $0.57, but revenues showed strong growth.
• Smurfit Westrock recently declared a quarterly dividend of $0.4308 per share, yielding 4.0%, but has a high dividend payout ratio of 260.61%.

KLP Kapitalforvaltning AS grew its position in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 11.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 196,671 shares of the company's stock after purchasing an additional 20,000 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Smurfit Westrock were worth $8,486,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Valeo Financial Advisors LLC boosted its stake in shares of Smurfit Westrock by 6,199.6% during the second quarter. Valeo Financial Advisors LLC now owns 658,754 shares of the company's stock valued at $28,425,000 after purchasing an additional 648,297 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in shares of Smurfit Westrock by 2.2% during the second quarter. DAVENPORT & Co LLC now owns 58,098 shares of the company's stock valued at $2,507,000 after purchasing an additional 1,236 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Smurfit Westrock by 4.5% during the second quarter. QRG Capital Management Inc. now owns 12,241 shares of the company's stock valued at $528,000 after purchasing an additional 532 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Smurfit Westrock by 3.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 59,454 shares of the company's stock valued at $2,565,000 after purchasing an additional 2,213 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Smurfit Westrock by 0.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 122,697 shares of the company's stock valued at $5,294,000 after purchasing an additional 904 shares in the last quarter. 83.38% of the stock is owned by institutional investors and hedge funds.

Smurfit Westrock Trading Down 0.9%

Shares of SW stock opened at $42.93 on Friday. The company has a market cap of $22.41 billion, a P/E ratio of 65.05 and a beta of 1.09. The stock has a 50 day simple moving average of $44.15 and a two-hundred day simple moving average of $43.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.45. Smurfit Westrock PLC has a fifty-two week low of $37.01 and a fifty-two week high of $56.99.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.12). The business had revenue of $7.94 billion during the quarter, compared to the consensus estimate of $7.88 billion. Smurfit Westrock had a return on equity of 5.90% and a net margin of 1.14%.The company's quarterly revenue was up 167.4% compared to the same quarter last year. Research analysts forecast that Smurfit Westrock PLC will post 3.25 earnings per share for the current year.

Smurfit Westrock Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, August 15th were paid a $0.4308 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, August 15th. Smurfit Westrock's dividend payout ratio (DPR) is 260.61%.

Wall Street Analyst Weigh In

SW has been the subject of a number of analyst reports. Wells Fargo & Company set a $52.00 price objective on Smurfit Westrock and gave the stock an "overweight" rating in a research report on Tuesday. Truist Financial raised their price objective on Smurfit Westrock from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. raised their price objective on Smurfit Westrock from $60.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday. Weiss Ratings restated a "hold (c)" rating on shares of Smurfit Westrock in a research report on Wednesday. Finally, Barclays lowered their price objective on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Smurfit Westrock has a consensus rating of "Buy" and a consensus price target of $57.80.

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.

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