Legacy Wealth Asset Management LLC Takes $599,000 Position in Smurfit Westrock Ltd (NYSE:SW)

Legacy Wealth Asset Management LLC acquired a new position in Smurfit Westrock Ltd (NYSE:SW - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,293 shares of the company's stock, valued at approximately $599,000.

A number of other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new position in Smurfit Westrock in the third quarter valued at about $221,026,000. OLD National Bancorp IN lifted its stake in Smurfit Westrock by 52.9% in the fourth quarter. OLD National Bancorp IN now owns 8,359 shares of the company's stock valued at $450,000 after purchasing an additional 2,891 shares during the last quarter. Caprock Group LLC lifted its stake in Smurfit Westrock by 65.8% in the fourth quarter. Caprock Group LLC now owns 9,426 shares of the company's stock valued at $508,000 after purchasing an additional 3,740 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in Smurfit Westrock by 8.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 17,416 shares of the company's stock valued at $938,000 after purchasing an additional 1,287 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in Smurfit Westrock by 0.5% in the fourth quarter. DAVENPORT & Co LLC now owns 55,898 shares of the company's stock valued at $3,011,000 after purchasing an additional 299 shares during the last quarter. 83.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Barclays cut their price objective on shares of Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Wells Fargo & Company dropped their price objective 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. Truist Financial reduced their target price on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Finally, Morgan Stanley reduced their target price on Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $58.20.

Insiders Place Their Bets

In related news, Director Irial Finan purchased 15,180 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $39.21 per share, with a total value of $595,207.80. Following the transaction, the director now directly owns 54,893 shares in the company, valued at $2,152,354.53. This trade represents a 38.22% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is currently owned by company insiders.

Smurfit Westrock Trading Up 1.1%

Shares of Smurfit Westrock stock traded up $0.46 on Thursday, hitting $43.05. The stock had a trading volume of 2,197,053 shares, compared to its average volume of 4,565,355. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. The stock's 50-day simple moving average is $42.62 and its two-hundred day simple moving average is $48.76. The stock has a market cap of $22.47 billion, a price-to-earnings ratio of 78.27 and a beta of 1.04. Smurfit Westrock Ltd has a one year low of $37.01 and a one year high of $56.99.

Smurfit Westrock (NYSE:SW - Get Free Report) last released its quarterly 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 6.16% and a net margin of 0.63%. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.41 billion. The business's revenue was up 161.3% compared to the same quarter last year. As a group, sell-side analysts predict that Smurfit Westrock Ltd will post 3.25 EPS for the current year.

Smurfit Westrock Announces Dividend

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

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.