Rhumbline Advisers Purchases 49,666 Shares of Smurfit Westrock Ltd (NYSE:SW)

Rhumbline Advisers increased its holdings in Smurfit Westrock Ltd (NYSE:SW - Free Report) by 5.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 918,099 shares of the company's stock after buying an additional 49,666 shares during the period. Rhumbline Advisers owned about 0.18% of Smurfit Westrock worth $41,369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in SW. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Smurfit Westrock by 29.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,487 shares of the company's stock valued at $2,309,000 after acquiring an additional 9,581 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $221,026,000. US Bancorp DE increased its stake in shares of Smurfit Westrock by 10.0% during the 4th quarter. US Bancorp DE now owns 17,602 shares of the company's stock valued at $948,000 after acquiring an additional 1,601 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Smurfit Westrock by 12.5% during the 4th quarter. Geode Capital Management LLC now owns 14,328,052 shares of the company's stock valued at $769,977,000 after acquiring an additional 1,594,939 shares during the last quarter. Finally, abrdn plc increased its stake in shares of Smurfit Westrock by 31.1% during the 4th quarter. abrdn plc now owns 70,801 shares of the company's stock valued at $3,818,000 after acquiring an additional 16,790 shares during the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on SW shares. Royal Bank of Canada dropped their target price on shares of Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Truist Financial dropped their target price on shares of Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley dropped their target price on shares of Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. Wells Fargo & Company dropped their target price on shares of Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, Barclays decreased their target price on shares of Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $58.20.

Smurfit Westrock Stock Performance

NYSE:SW traded up $0.46 during midday trading on Thursday, reaching $43.05. The stock had a trading volume of 2,197,053 shares, compared to its average volume of 4,565,349. The stock has a market capitalization of $22.47 billion, a P/E ratio of 78.27 and a beta of 1.04. Smurfit Westrock Ltd has a 1-year low of $37.01 and a 1-year high of $56.99. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.89. The firm's fifty day simple moving average is $42.66 and its 200-day simple moving average is $48.83.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.73 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.08. The company had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.41 billion. Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. Smurfit Westrock's revenue for the quarter was up 161.3% on a year-over-year basis. On average, equities research analysts forecast that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Dividend Announcement

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

Insider Transactions at Smurfit Westrock

In related news, Director Irial Finan purchased 15,180 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $39.21 per share, with a total value of $595,207.80. Following the purchase, the director now directly owns 54,893 shares in the company, valued at $2,152,354.53. This trade represents a 38.22% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.49% of the company's stock.

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.