Millennium Management LLC Has $9.43 Million Stock Holdings in Smurfit Westrock Ltd (NYSE:SW)

Millennium Management LLC lessened its holdings in Smurfit Westrock Ltd (NYSE:SW - Free Report) by 90.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 175,090 shares of the company's stock after selling 1,729,841 shares during the quarter. Millennium Management LLC's holdings in Smurfit Westrock were worth $9,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Smurfit Westrock by 117.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company's stock valued at $28,000 after buying an additional 279 shares during the period. Deseret Mutual Benefit Administrators acquired a new position in Smurfit Westrock in the fourth quarter valued at about $30,000. Spire Wealth Management bought a new stake in shares of Smurfit Westrock in the fourth quarter worth about $36,000. Principal Securities Inc. increased its stake in Smurfit Westrock by 49.1% during the 4th quarter. Principal Securities Inc. now owns 695 shares of the company's stock worth $37,000 after purchasing an additional 229 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in Smurfit Westrock by 448.8% during the 4th quarter. First Horizon Advisors Inc. now owns 697 shares of the company's stock worth $38,000 after purchasing an additional 570 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors.

Insider Transactions at Smurfit Westrock

In related news, Director Irial Finan acquired 15,180 shares of the 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 purchase, the director now directly owns 54,893 shares in the company, valued at approximately $2,152,354.53. The trade was a 38.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Smurfit Westrock Stock Down 2.0%

NYSE SW traded down $0.87 during trading hours on Wednesday, hitting $43.52. 3,040,514 shares of the company traded hands, compared to its average volume of 4,604,062. The business's 50-day moving average is $42.88 and its 200-day moving average is $49.15. Smurfit Westrock Ltd has a twelve month low of $37.01 and a twelve month high of $56.99. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37. The stock has a market capitalization of $22.72 billion, a price-to-earnings ratio of 79.13 and a beta of 1.00.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $7.66 billion during the quarter, compared to analysts' expectations of $7.41 billion. Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. The firm's revenue for the quarter was up 161.3% compared to the same quarter last year. Sell-side analysts anticipate that Smurfit Westrock Ltd will post 3.25 earnings per share for the current year.

Smurfit Westrock Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Royal Bank of Canada cut their price target 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. Truist Financial reduced their target price on shares of Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley reduced their target price on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. Wells Fargo & Company reduced their price objective on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, Barclays dropped their target price on Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, Smurfit Westrock has an average rating of "Moderate Buy" and an average price target of $58.20.

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.