Smurfit Westrock PLC (NYSE:SW) Position Reduced by Lbp Am Sa

LBP AM SA cut its stake in Smurfit Westrock PLC (NYSE:SW - Free Report) by 66.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 675,573 shares of the company's stock after selling 1,325,930 shares during the period. LBP AM SA owned approximately 0.13% of Smurfit Westrock worth $30,441,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Smurfit Westrock during the fourth quarter worth $1,300,041,000. Nuveen Asset Management LLC boosted its holdings in shares of Smurfit Westrock by 51.6% during the fourth quarter. Nuveen Asset Management LLC now owns 20,720,312 shares of the company's stock worth $1,115,996,000 after purchasing an additional 7,050,781 shares during the last quarter. Boston Partners acquired a new stake in shares of Smurfit Westrock during the fourth quarter worth $304,377,000. FIL Ltd boosted its holdings in shares of Smurfit Westrock by 68.2% during the fourth quarter. FIL Ltd now owns 10,962,433 shares of the company's stock worth $590,853,000 after purchasing an additional 4,444,704 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Smurfit Westrock by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 14,328,052 shares of the company's stock worth $769,977,000 after buying an additional 1,594,939 shares during the period. 83.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SW. Royal Bank Of Canada cut their target price on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Jefferies Financial Group raised Smurfit Westrock from a "hold" rating to a "buy" rating and increased their target price for the stock from $44.00 to $55.00 in a research report on Monday, June 16th. Morgan Stanley raised their price objective on Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a research report on Tuesday. Wells Fargo & Company cut their price objective on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, Truist Financial lowered their target price on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Smurfit Westrock currently has a consensus rating of "Moderate Buy" and an average price target of $57.30.

Smurfit Westrock Stock Performance

SW stock traded up $0.20 during midday trading on Wednesday, reaching $47.32. The company had a trading volume of 2,374,626 shares, compared to its average volume of 4,268,704. The company has a quick ratio of 0.93, a current ratio of 1.43 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average price of $43.72 and a 200 day moving average price of $47.07. Smurfit Westrock PLC has a fifty-two week low of $37.01 and a fifty-two week high of $56.99. The firm has a market capitalization of $24.70 billion, a PE ratio of 38.79 and a beta of 1.02.

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 analysts' consensus estimates of $0.65 by $0.08. Smurfit Westrock had a return on equity of 7.38% and a net margin of 1.98%. The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.41 billion. The firm's revenue was up 161.3% on a year-over-year basis. Analysts anticipate that Smurfit Westrock PLC will post 3.25 earnings per share for the current year.

Smurfit Westrock Dividend Announcement

The firm also recently declared a dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, May 19th were issued a dividend of $0.4308 per share. The ex-dividend date was Friday, May 16th. This represents a dividend 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 purchased 15,180 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $39.21 per share, with a total value of $595,207.80. Following the completion of the acquisition, the director owned 54,893 shares in the company, valued at approximately $2,152,354.53. This represents a 38.22% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.