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

Oppenheimer Asset Management Inc. decreased its holdings in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 40.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,216 shares of the company's stock after selling 67,275 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Smurfit Westrock were worth $4,471,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SW. Bank Pictet & Cie Europe AG grew its holdings in Smurfit Westrock by 40.6% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 42,104 shares of the company's stock valued at $2,268,000 after purchasing an additional 12,166 shares during the period. Principal Securities Inc. grew its holdings in Smurfit Westrock by 49.1% during the fourth quarter. Principal Securities Inc. now owns 695 shares of the company's stock valued at $37,000 after purchasing an additional 229 shares during the period. Truist Financial Corp grew its holdings in Smurfit Westrock by 110.9% during the fourth quarter. Truist Financial Corp now owns 42,613 shares of the company's stock valued at $2,295,000 after purchasing an additional 22,411 shares during the period. First Horizon Advisors Inc. grew its holdings in Smurfit Westrock by 448.8% during the fourth quarter. First Horizon Advisors Inc. now owns 697 shares of the company's stock valued at $38,000 after purchasing an additional 570 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in Smurfit Westrock during the fourth quarter valued at approximately $8,359,000. Institutional investors and hedge funds own 83.38% of the company's stock.

Smurfit Westrock Stock Up 0.9%

SW traded up $0.40 during trading on Friday, reaching $43.08. The company had a trading volume of 7,720,458 shares, compared to its average volume of 4,541,879. 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 PLC has a 12 month low of $37.01 and a 12 month high of $56.99. The business's fifty day moving average price is $43.08 and its 200 day moving average price is $47.39. The company has a market cap of $22.49 billion, a P/E ratio of 35.31 and a beta of 1.04.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.41 billion. Smurfit Westrock had a net margin of 1.98% and a return on equity of 7.38%. The business's quarterly revenue was up 161.3% on a year-over-year basis. Equities analysts anticipate that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Announces Dividend

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

Insider Transactions at Smurfit Westrock

In other news, Director Irial Finan purchased 15,180 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $39.21 per share, with a total value of $595,207.80. Following the completion of the transaction, the director now 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SW. Jefferies Financial Group upgraded shares of 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 report on Monday, June 16th. Truist Financial decreased their price objective on shares of Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Royal Bank Of Canada decreased their price objective 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 decreased their price objective on shares of Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, Wells Fargo & Company cut their price target on shares of 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. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.