Mainstay Capital Management LLC ADV Acquires 38,300 Shares of Smurfit Westrock PLC $SW

Key Points

• Mainstay Capital Management LLC ADV significantly increased its stake in Smurfit Westrock PLC by 103.1%, acquiring an additional 38,300 shares, bringing its total holdings to 75,437 shares valued at approximately $3.26 million.
• Several institutional investors have also made substantial investments in Smurfit Westrock, with Nuveen LLC recently acquiring a position worth over $1 billion.
• Analyst ratings for Smurfit Westrock have been largely positive, with a consensus Buy rating and target prices reaching as high as $61.00, reflecting strong investor confidence.

Mainstay Capital Management LLC ADV boosted its holdings in Smurfit Westrock PLC (NYSE:SW - Free Report) by 103.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,437 shares of the company's stock after acquiring an additional 38,300 shares during the quarter. Mainstay Capital Management LLC ADV's holdings in Smurfit Westrock were worth $3,255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new position in Smurfit Westrock during the 1st quarter valued at $1,051,299,000. Ruffer LLP purchased a new stake in shares of Smurfit Westrock in the second quarter valued at about $196,095,000. Orbis Allan Gray Ltd lifted its position in shares of Smurfit Westrock by 74.8% during the first quarter. Orbis Allan Gray Ltd now owns 10,114,213 shares of the company's stock valued at $455,746,000 after purchasing an additional 4,329,653 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Smurfit Westrock by 39.3% during the first quarter. JPMorgan Chase & Co. now owns 6,100,067 shares of the company's stock worth $274,869,000 after purchasing an additional 1,721,889 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in Smurfit Westrock by 16.1% in the 1st quarter. Alliancebernstein L.P. now owns 5,689,254 shares of the company's stock worth $256,358,000 after purchasing an additional 788,082 shares in the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Truist Financial boosted their target price on Smurfit Westrock from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Jefferies Financial Group raised Smurfit Westrock from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $44.00 to $55.00 in a research report on Monday, June 16th. JPMorgan Chase & Co. raised their target price on Smurfit Westrock from $60.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday. Barclays lowered their target price on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating on the stock in a research note on Monday, June 30th. Finally, Morgan Stanley increased their price target on shares of Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Smurfit Westrock has a consensus rating of "Buy" and an average target price of $57.80.

Smurfit Westrock Stock Up 5.3%

Shares of NYSE SW opened at $43.37 on Thursday. The business has a 50-day moving average of $44.18 and a 200-day moving average of $43.98. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 65.71 and a beta of 1.09. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. Smurfit Westrock PLC has a 12 month low of $37.01 and a 12 month high of $56.99.

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

Smurfit Westrock Dividend Announcement

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

Smurfit Westrock 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.

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