Smurfit Westrock PLC $SW is Patten & Patten Inc. TN's 5th Largest Position

Key Points

• Patten & Patten Inc. TN has reduced its stake in Smurfit Westrock PLC by 3.1%, making it the company's 5th largest holding with 950,038 shares valued at approximately $40.99 million.
• Smurfit Westrock recently announced a quarterly dividend of $0.4308 per share, representing an annualized yield of 4.1%.
• The company reported earnings of $0.45 EPS for the last quarter, which was below analysts' expectations of $0.57 EPS, while revenue grew by 167.4% year-over-year to $7.94 billion.

Patten & Patten Inc. TN trimmed its stake in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 3.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 950,038 shares of the company's stock after selling 30,302 shares during the period. Smurfit Westrock accounts for 2.7% of Patten & Patten Inc. TN's portfolio, making the stock its 5th largest holding. Patten & Patten Inc. TN owned approximately 0.18% of Smurfit Westrock worth $40,994,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of SW. Farther Finance Advisors LLC grew its stake in Smurfit Westrock by 36.5% during the first quarter. Farther Finance Advisors LLC now owns 5,038 shares of the company's stock valued at $230,000 after acquiring an additional 1,346 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Smurfit Westrock by 3.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 16,353 shares of the company's stock worth $737,000 after buying an additional 488 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Smurfit Westrock by 20.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,721 shares of the company's stock worth $78,000 after buying an additional 295 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Smurfit Westrock in the 1st quarter worth $490,000. Finally, QRG Capital Management Inc. grew its stake in shares of Smurfit Westrock by 106.3% in the 1st quarter. QRG Capital Management Inc. now owns 11,709 shares of the company's stock worth $528,000 after buying an additional 6,032 shares in the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SW has been the subject of a number of recent research reports. UBS Group initiated coverage on shares of Smurfit Westrock in a research note on Monday, September 15th. They issued a "buy" rating and a $60.00 price objective for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Smurfit Westrock in a research note on Wednesday, October 8th. Truist Financial lifted their price objective on shares of Smurfit Westrock from $54.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday. Morgan Stanley lifted their price objective on shares of Smurfit Westrock from $51.00 to $53.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Barclays dropped their price objective on shares of Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Smurfit Westrock has an average rating of "Buy" and an average target price of $57.90.

Smurfit Westrock Price Performance

SW stock opened at $41.74 on Thursday. Smurfit Westrock PLC has a 12 month low of $37.01 and a 12 month high of $56.99. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $43.97 and a 200 day moving average price of $43.86. The stock has a market cap of $21.79 billion, a PE ratio of 63.24 and a beta of 1.09.

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

Smurfit Westrock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, August 15th were issued a dividend of $0.4308 per share. The ex-dividend date was Friday, August 15th. This represents a $1.72 dividend on an annualized basis and a yield of 4.1%. Smurfit Westrock's dividend payout ratio (DPR) is presently 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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