Oppenheimer Asset Management Inc. Sells 67,275 Shares of Smurfit Westrock PLC (NYSE:SW)

Oppenheimer Asset Management Inc. cut its position in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 40.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 99,216 shares of the company's stock after selling 67,275 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Smurfit Westrock were worth $4,471,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nilsine Partners LLC increased its position in shares of Smurfit Westrock by 18.4% during the first quarter. Nilsine Partners LLC now owns 5,305 shares of the company's stock valued at $239,000 after purchasing an additional 826 shares during the period. Blue Trust Inc. increased its position in shares of Smurfit Westrock by 75.2% during the first quarter. Blue Trust Inc. now owns 18,834 shares of the company's stock valued at $849,000 after purchasing an additional 8,087 shares during the period. ORG Wealth Partners LLC increased its position in shares of Smurfit Westrock by 220.0% during the first quarter. ORG Wealth Partners LLC now owns 2,051 shares of the company's stock valued at $94,000 after purchasing an additional 1,410 shares during the period. State of Alaska Department of Revenue increased its position in shares of Smurfit Westrock by 2.8% during 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 purchasing an additional 1,600 shares during the period. Finally, Chicago Capital LLC bought a new stake in shares of Smurfit Westrock during the first quarter valued at approximately $319,000. 83.38% of the stock is currently owned by institutional investors.

Smurfit Westrock Stock Performance

Shares of NYSE:SW opened at $43.54 on Wednesday. Smurfit Westrock PLC has a twelve month low of $37.01 and a twelve month high of $56.99. The firm has a market cap of $22.73 billion, a PE ratio of 35.69 and a beta of 1.04. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.43. The business has a fifty day moving average of $42.98 and a 200-day moving average of $47.62.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.73 earnings per share 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 company had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.41 billion. The firm's revenue for the quarter was up 161.3% on a year-over-year basis. On average, equities research analysts predict that Smurfit Westrock PLC will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, May 19th were paid a $0.4308 dividend. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 3.7%. Smurfit Westrock's dividend payout ratio (DPR) is presently 140.98%.

Insider Activity

In other news, Director Irial Finan purchased 15,180 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average price of $39.21 per share, with a total value of $595,207.80. Following the completion of the purchase, the director now directly owns 54,893 shares of the company's stock, valued at $2,152,354.53. The trade was a 38.22% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Truist Financial lowered their price objective on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Barclays decreased their price target on Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their price target on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Jefferies Financial Group raised Smurfit Westrock from a "hold" rating to a "buy" rating and boosted their price target for the company from $44.00 to $55.00 in a research note on Monday, June 16th. Finally, Morgan Stanley decreased their price target on Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Smurfit Westrock currently has an average rating of "Moderate Buy" and a consensus price target of $58.50.

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.

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