Mirae Asset Global Investments Co. Ltd. Grows Position in Smurfit Westrock PLC (NYSE:SW)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 34.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,241 shares of the company's stock after acquiring an additional 14,754 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Smurfit Westrock were worth $2,548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bank Pictet & Cie Europe AG lifted its holdings in shares of Smurfit Westrock by 40.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 42,104 shares of the company's stock worth $2,268,000 after purchasing an additional 12,166 shares during the period. Proficio Capital Partners LLC purchased a new position in Smurfit Westrock during the 4th quarter worth $1,395,000. QRG Capital Management Inc. acquired a new stake in shares of Smurfit Westrock in the 4th quarter worth $306,000. Mutual of America Capital Management LLC purchased a new stake in shares of Smurfit Westrock in the fourth quarter valued at about $3,188,000. Finally, US Bancorp DE boosted its holdings in shares of Smurfit Westrock by 10.0% in the fourth quarter. US Bancorp DE now owns 17,602 shares of the company's stock valued at $948,000 after acquiring an additional 1,601 shares in the last quarter. Hedge funds and other institutional investors own 83.38% of the company's stock.

Smurfit Westrock Price Performance

Smurfit Westrock stock traded up $0.84 during mid-day trading on Thursday, hitting $48.02. 3,591,479 shares of the company were exchanged, compared to its average volume of 4,527,953. Smurfit Westrock PLC has a 12-month low of $37.01 and a 12-month high of $56.99. The company has a market capitalization of $25.06 billion, a P/E ratio of 39.36 and a beta of 1.02. The business's 50 day simple moving average is $43.31 and its two-hundred day simple moving average is $47.26. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.43 and a quick ratio of 0.93.

Smurfit Westrock (NYSE:SW - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $7.41 billion. The company's revenue was up 161.3% on a year-over-year basis. Analysts forecast 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 dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, May 19th were paid a dividend of $0.4308 per share. This represents a dividend yield of 3.7%. The ex-dividend date was Friday, May 16th. Smurfit Westrock's payout ratio is 140.98%.

Insider Activity

In other news, Director Irial Finan bought 15,180 shares of the stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $39.21 per share, with a total value of $595,207.80. Following the purchase, 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 purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.49% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on SW. Wells Fargo & Company reduced their price target on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Morgan Stanley decreased their target price on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. Royal Bank Of Canada cut their price target on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Barclays reduced their price objective on shares of Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Monday. Finally, Jefferies Financial Group upgraded shares of Smurfit Westrock from a "hold" rating to a "buy" rating and upped their target price for the stock from $44.00 to $55.00 in a research report on Monday, June 16th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Smurfit Westrock currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.40.

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.