Smurfit Westrock PLC (NYSE:SW) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its holdings in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 1,462.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,043 shares of the company's stock after buying an additional 71,176 shares during the quarter. Teacher Retirement System of Texas' holdings in Smurfit Westrock were worth $3,426,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Covestor Ltd increased its position in shares of Smurfit Westrock by 8.9% during the fourth quarter. Covestor Ltd now owns 2,308 shares of the company's stock worth $124,000 after acquiring an additional 188 shares during the period. Bessemer Group Inc. increased its holdings in Smurfit Westrock by 3.0% during the fourth quarter. Bessemer Group Inc. now owns 6,771 shares of the company's stock valued at $364,000 after buying an additional 197 shares during the period. Assetmark Inc. increased its holdings in Smurfit Westrock by 16.6% during the fourth quarter. Assetmark Inc. now owns 1,390 shares of the company's stock valued at $75,000 after buying an additional 198 shares during the period. Rockefeller Capital Management L.P. increased its holdings in Smurfit Westrock by 1.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 15,866 shares of the company's stock valued at $855,000 after buying an additional 225 shares during the period. Finally, Legacy Financial Advisors Inc. increased its holdings in Smurfit Westrock by 4.3% during the fourth quarter. Legacy Financial Advisors Inc. now owns 5,763 shares of the company's stock valued at $310,000 after buying an additional 235 shares during the period. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on SW. Truist Financial lifted their price objective on shares of Smurfit Westrock from $50.00 to $54.00 and gave the company a "buy" rating in a report on Friday. Barclays cut their price objective on shares of Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Royal Bank Of Canada lowered 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 note on Friday, May 2nd. Wells Fargo & Company raised their target price on shares of Smurfit Westrock from $43.00 to $45.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, Jefferies Financial Group upgraded shares of Smurfit Westrock from a "hold" rating to a "buy" rating and raised their target price for the company from $44.00 to $55.00 in a research note on Monday, June 16th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $57.90.

Insider Buying and Selling

In other Smurfit Westrock news, Director Irial Finan purchased 15,180 shares of the stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $39.21 per share, with a total value of $595,207.80. Following the completion of the acquisition, the director owned 54,893 shares in the company, valued at $2,152,354.53. This trade represents a 38.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.49% of the company's stock.

Smurfit Westrock Stock Performance

Shares of SW traded down $0.83 during trading hours on Friday, reaching $47.19. 1,852,529 shares of the company traded hands, compared to its average volume of 4,196,152. The stock has a market capitalization of $24.63 billion, a P/E ratio of 38.68 and a beta of 1.02. 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 12-month low of $37.01 and a 12-month high of $56.99. The business has a fifty day moving average price of $43.98 and a 200-day moving average price of $47.03.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings data 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 net margin of 1.98% and a return on equity of 7.38%. The firm had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.41 billion. The firm's revenue for the quarter was up 161.3% compared to the same quarter last year. Equities analysts anticipate that Smurfit Westrock PLC will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Announces Dividend

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

Smurfit Westrock 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.