M&T Bank Corp Sells 17,950 Shares of Smurfit Westrock PLC (NYSE:SW)

M&T Bank Corp cut its stake in Smurfit Westrock PLC (NYSE:SW - Free Report) by 29.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,605 shares of the company's stock after selling 17,950 shares during the period. M&T Bank Corp's holdings in Smurfit Westrock were worth $1,915,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Exane Asset Management lifted its holdings in Smurfit Westrock by 118.7% in the first quarter. Exane Asset Management now owns 218,289 shares of the company's stock worth $10,623,000 after buying an additional 118,487 shares during the period. Beverly Hills Private Wealth LLC lifted its holdings in Smurfit Westrock by 9.2% in the first quarter. Beverly Hills Private Wealth LLC now owns 83,146 shares of the company's stock worth $3,747,000 after buying an additional 6,994 shares during the period. Gilliland Jeter Wealth Management LLC purchased a new stake in Smurfit Westrock in the first quarter worth about $203,000. Fullcircle Wealth LLC lifted its holdings in Smurfit Westrock by 34.6% in the first quarter. Fullcircle Wealth LLC now owns 16,773 shares of the company's stock worth $714,000 after buying an additional 4,311 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Smurfit Westrock by 0.4% during the first quarter. Principal Financial Group Inc. now owns 589,825 shares of the company's stock valued at $26,578,000 after purchasing an additional 2,355 shares during the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Smurfit Westrock news, Director Irial Finan acquired 15,180 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $39.21 per share, with a total value of $595,207.80. Following the transaction, the director directly owned 54,893 shares in the company, valued at approximately $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 this link. 0.49% of the stock is currently owned by insiders.

Smurfit Westrock Stock Performance

SW traded down $0.83 during mid-day trading on Friday, reaching $47.19. 1,852,615 shares of the company traded hands, compared to its average volume of 4,013,039. 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. The company's fifty day moving average price is $44.10 and its 200-day moving average price is $46.93. Smurfit Westrock PLC has a 52-week low of $37.01 and a 52-week high of $56.99.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its earnings results 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. The business had revenue of $7.66 billion during 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 firm's quarterly revenue was up 161.3% on a year-over-year basis. On average, sell-side analysts expect that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SW shares. Jefferies Financial Group upgraded shares of Smurfit Westrock from a "hold" rating to a "buy" rating and lifted their target price for the company from $44.00 to $55.00 in a report on Monday, June 16th. Truist Financial lifted their target price on shares of Smurfit Westrock from $50.00 to $54.00 and gave the company a "buy" rating in a report on Friday. Morgan Stanley lifted their target price on shares of Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Barclays lowered their target price on shares of Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a report on Monday, June 30th. Finally, 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 report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $57.90.

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.