National Bank of Canada FI Buys 89,564 Shares of Smurfit Westrock PLC (NYSE:SW)

Key Points

• National Bank of Canada FI increased its holdings in Smurfit Westrock PLC by 37.4% during the first quarter, now owning 329,072 shares valued at approximately $14.8 million.
• A number of institutional investors have also raised their positions, with Nuveen Asset Management LLC boosting its stake by 51.6% to over 20.7 million shares, making hedge funds and institutional investors account for 83.38% of ownership.
• Recent earnings revealed Smurfit Westrock reported $0.45 EPS, missing the consensus estimate by $0.12, while quarterly revenue increased by 167.4% year-over-year.

National Bank of Canada FI raised its stake in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 37.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 329,072 shares of the company's stock after purchasing an additional 89,564 shares during the period. National Bank of Canada FI owned 0.06% of Smurfit Westrock worth $14,828,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. NBC Securities Inc. lifted its position in shares of Smurfit Westrock by 127,600.0% in the first quarter. NBC Securities Inc. now owns 1,277 shares of the company's stock valued at $57,000 after acquiring an additional 1,276 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Smurfit Westrock by 1.7% in the fourth quarter. Ameriprise Financial Inc. now owns 9,003,480 shares of the company's stock valued at $484,927,000 after acquiring an additional 149,210 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of Smurfit Westrock by 106.3% in the first quarter. QRG Capital Management Inc. now owns 11,709 shares of the company's stock valued at $528,000 after acquiring an additional 6,032 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Smurfit Westrock by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 57,939 shares of the company's stock valued at $2,610,000 after acquiring an additional 1,600 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Smurfit Westrock by 36.5% in the first quarter. Farther Finance Advisors LLC now owns 5,038 shares of the company's stock valued at $230,000 after acquiring an additional 1,346 shares in the last quarter. Institutional investors own 83.38% of the company's stock.

Smurfit Westrock Trading Up 1.9%

NYSE SW traded up $0.84 during trading hours on Wednesday, hitting $45.11. 2,389,087 shares of the company were exchanged, compared to its average volume of 3,771,277. The stock has a 50-day moving average price of $44.97 and a 200 day moving average price of $45.74. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 0.73. Smurfit Westrock PLC has a 52 week low of $37.01 and a 52 week high of $56.99. The stock has a market cap of $23.55 billion, a PE ratio of 68.35 and a beta of 1.06.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.12). Smurfit Westrock had a return on equity of 5.90% and a net margin of 1.14%. The company had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $7.88 billion. Smurfit Westrock's quarterly revenue was up 167.4% compared to the same quarter last year. Analysts forecast that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.4308 per share. This represents a $1.72 annualized dividend and a yield of 3.8%. Smurfit Westrock's payout ratio is currently 260.61%.

Analyst Upgrades and Downgrades

SW has been the topic of several research analyst reports. Truist Financial boosted their price objective on Smurfit Westrock from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Barclays lowered their price objective on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Morgan Stanley boosted their price objective on Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada lowered their price objective on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Jefferies Financial Group upgraded Smurfit Westrock from a "hold" rating to a "buy" rating and boosted their price objective for the company from $44.00 to $55.00 in a research report on Monday, June 16th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $58.00.

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.