QRG Capital Management Inc. Has $528,000 Stock Holdings in Smurfit Westrock PLC (NYSE:SW)

QRG Capital Management Inc. boosted its stake in Smurfit Westrock PLC (NYSE:SW - Free Report) by 106.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,709 shares of the company's stock after purchasing an additional 6,032 shares during the period. QRG Capital Management Inc.'s holdings in Smurfit Westrock were worth $528,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SW. Bank Pictet & Cie Europe AG lifted its stake in shares of Smurfit Westrock by 40.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 42,104 shares of the company's stock valued at $2,268,000 after acquiring an additional 12,166 shares during the last quarter. Principal Securities Inc. increased its holdings in Smurfit Westrock by 49.1% in the 4th quarter. Principal Securities Inc. now owns 695 shares of the company's stock worth $37,000 after purchasing an additional 229 shares in the last quarter. Truist Financial Corp raised its position in Smurfit Westrock by 110.9% in 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 last quarter. Handelsbanken Fonder AB bought a new position in Smurfit Westrock in the fourth quarter valued at about $7,110,000. Finally, Deseret Mutual Benefit Administrators acquired a new stake in shares of Smurfit Westrock during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 83.38% of the company's stock.

Insiders Place Their Bets

In related news, Director Irial Finan purchased 15,180 shares of Smurfit Westrock stock in a transaction on Tuesday, May 6th. The stock was acquired at an average cost of $39.21 per share, for a total transaction of $595,207.80. Following the completion of the acquisition, the director now owns 54,893 shares of the company's stock, valued at $2,152,354.53. This trade represents a 38.22% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SW shares. Morgan Stanley lowered their price objective on Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. Wells Fargo & Company reduced their target price on shares of Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Truist Financial dropped their price target on shares of Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Royal Bank Of Canada cut their price target on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Jefferies Financial Group upgraded Smurfit Westrock from a "hold" rating to a "buy" rating and increased their price objective for the company from $44.00 to $55.00 in a report on Monday, June 16th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Smurfit Westrock has a consensus rating of "Moderate Buy" and an average target price of $58.50.

Smurfit Westrock Price Performance

Shares of NYSE SW opened at $42.49 on Monday. The company has a market capitalization of $22.18 billion, a PE ratio of 34.82 and a beta of 1.04. The company has a quick ratio of 0.93, a current ratio of 1.43 and a debt-to-equity ratio of 0.72. Smurfit Westrock PLC has a twelve month low of $37.01 and a twelve month high of $56.99. The firm has a fifty day simple moving average of $42.91 and a 200 day simple moving average of $47.73.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.73 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.41 billion. Smurfit Westrock had a return on equity of 7.38% and a net margin of 1.98%. The firm's revenue was up 161.3% on a year-over-year basis. On average, sell-side analysts forecast that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Announces Dividend

The firm also recently announced 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. The ex-dividend date was Friday, May 16th. This represents a yield of 3.7%. Smurfit Westrock's dividend payout ratio is currently 140.98%.

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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