Lbp Am Sa Sells 1,325,930 Shares of Smurfit Westrock PLC (NYSE:SW)

LBP AM SA lowered its stake in Smurfit Westrock PLC (NYSE:SW - Free Report) by 66.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 0.13% of Smurfit Westrock worth $30,441,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SW. Covestor Ltd lifted its stake in shares of Smurfit Westrock by 8.9% in the fourth quarter. Covestor Ltd now owns 2,308 shares of the company's stock worth $124,000 after acquiring an additional 188 shares during the period. Bessemer Group Inc. boosted its position in shares of Smurfit Westrock by 3.0% during the 4th quarter. Bessemer Group Inc. now owns 6,771 shares of the company's stock valued at $364,000 after purchasing an additional 197 shares in the last quarter. Assetmark Inc. boosted its position in shares of Smurfit Westrock by 16.6% during the 4th quarter. Assetmark Inc. now owns 1,390 shares of the company's stock valued at $75,000 after purchasing an additional 198 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Smurfit Westrock by 1.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 15,866 shares of the company's stock valued at $855,000 after buying an additional 225 shares during the period. Finally, Legacy Financial Advisors Inc. grew its holdings in Smurfit Westrock by 4.3% in the fourth quarter. Legacy Financial Advisors Inc. now owns 5,763 shares of the company's stock worth $310,000 after purchasing an additional 235 shares during the period. Institutional investors and hedge funds own 83.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SW shares. Jefferies Financial Group raised shares of Smurfit Westrock from a "hold" rating to a "buy" rating and increased their price objective for the stock from $44.00 to $55.00 in a research report on Monday, June 16th. Wells Fargo & Company boosted their price objective on Smurfit Westrock from $43.00 to $45.00 and gave the company an "equal weight" rating in a report on Thursday. Barclays reduced their price target on shares of Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Morgan Stanley raised their price objective on shares of Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday. Finally, Royal Bank Of Canada dropped their price objective on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.50.

Smurfit Westrock Price Performance

NYSE SW traded up $0.66 during trading hours on Thursday, hitting $47.90. The company had a trading volume of 1,455,834 shares, compared to its average volume of 3,731,960. Smurfit Westrock PLC has a 52 week low of $37.01 and a 52 week high of $56.99. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.43. The firm has a market capitalization of $25.00 billion, a price-to-earnings ratio of 39.26 and a beta of 1.02. The firm has a 50 day simple moving average of $43.83 and a 200 day simple moving average of $47.07.

Smurfit Westrock (NYSE:SW - Get Free Report) last released 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 business had revenue of $7.66 billion for the quarter, compared to analysts' expectations of $7.41 billion. The business's quarterly revenue was up 161.3% on a year-over-year basis. Equities research analysts expect that Smurfit Westrock PLC will post 3.25 earnings per share for the current year.

Smurfit Westrock Announces Dividend

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

Insider Activity

In other news, Director Irial Finan bought 15,180 shares of Smurfit Westrock stock in a transaction on Tuesday, May 6th. The shares were purchased at an average price of $39.21 per share, for a total transaction of $595,207.80. Following the acquisition, the director owned 54,893 shares of the company's stock, valued at approximately $2,152,354.53. The trade was a 38.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.49% of the stock is owned by insiders.

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.