Paradigm Capital Management Inc. NY Decreases Stake in Smurfit Westrock PLC $SW

Key Points

• Paradigm Capital Management Inc. NY significantly reduced its stake in Smurfit Westrock PLC by 74.1%, selling 280,700 shares, and now holds 98,180 shares valued at approximately $4.4 million.
• Several hedge funds have increased their holdings in Smurfit Westrock, with notable increases from Caisse DE Depot ET Placement DU Quebec, which grew its stake by 208.3%, owning 418,223 shares worth around $22.5 million.
• Analysts have been optimistic about Smurfit Westrock, with an average target price of $57.78 and multiple firms upgrading their ratings, although the company reported earnings of $0.45 EPS, missing estimates of $0.57 EPS.

Paradigm Capital Management Inc. NY lowered its position in Smurfit Westrock PLC (NYSE:SW - Free Report) by 74.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 98,180 shares of the company's stock after selling 280,700 shares during the quarter. Paradigm Capital Management Inc. NY's holdings in Smurfit Westrock were worth $4,424,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SW. Bank Pictet & Cie Europe AG grew its holdings in Smurfit Westrock by 40.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 42,104 shares of the company's stock valued at $2,268,000 after buying an additional 12,166 shares in the last quarter. First Trust Advisors LP grew its holdings in Smurfit Westrock by 7.9% during the 4th quarter. First Trust Advisors LP now owns 27,095 shares of the company's stock valued at $1,463,000 after buying an additional 1,976 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Smurfit Westrock during the 4th quarter valued at about $278,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in Smurfit Westrock by 208.3% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 418,223 shares of the company's stock valued at $22,525,000 after buying an additional 282,561 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Smurfit Westrock by 1.7% during the 4th quarter. Ameriprise Financial Inc. now owns 9,003,480 shares of the company's stock valued at $484,927,000 after buying an additional 149,210 shares in the last quarter. Hedge funds and other institutional investors own 83.38% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on Smurfit Westrock from $45.00 to $46.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Barclays cut their price objective on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Jefferies Financial Group raised Smurfit Westrock from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $44.00 to $55.00 in a report on Monday, June 16th. Truist Financial boosted their price objective on Smurfit Westrock from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Finally, Morgan Stanley boosted their price objective on Smurfit Westrock from $51.00 to $53.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $57.78.

Smurfit Westrock Stock Up 2.1%

Shares of SW opened at $47.38 on Friday. The firm has a market cap of $24.74 billion, a P/E ratio of 71.79 and a beta of 1.06. The stock has a 50 day simple moving average of $45.36 and a two-hundred day simple moving average of $44.93. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 0.95. Smurfit Westrock PLC has a 1 year low of $37.01 and a 1 year high of $56.99.

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

Smurfit Westrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 15th will be paid a $0.4308 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.72 annualized dividend and a yield of 3.6%. Smurfit Westrock's dividend payout ratio is currently 260.61%.

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.

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