Smurfit Westrock PLC $SW Position Increased by Incentive AS

Key Points

• Incentive AS has increased its stake in Smurfit Westrock PLC by 0.4%, now holding 2.32 million shares valued at approximately $100.2 million, making it the company's largest position for the fund.
• Smurfit Westrock reported a net margin of 1.14% and a quarterly revenue of $7.94 billion, an increase of 167.4% year-over-year, although it missed EPS estimates by $0.12.
• The company announced a quarterly dividend of $0.4308 per share, resulting in an annual dividend yield of 4.0%, although its payout ratio is significantly high at 260.61%.

Incentive AS lifted its position in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 0.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,322,540 shares of the company's stock after buying an additional 10,000 shares during the quarter. Smurfit Westrock makes up about 100.0% of Incentive AS's holdings, making the stock its largest position. Incentive AS owned about 0.44% of Smurfit Westrock worth $100,218,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SW. Asset Management One Co. Ltd. increased its stake in shares of Smurfit Westrock by 1.7% during the 2nd quarter. Asset Management One Co. Ltd. now owns 207,670 shares of the company's stock worth $8,961,000 after purchasing an additional 3,421 shares in the last quarter. LifeWealth Investments LLC purchased a new stake in Smurfit Westrock in the 2nd quarter valued at approximately $334,000. Forum Financial Management LP increased its position in Smurfit Westrock by 59.0% during the second quarter. Forum Financial Management LP now owns 15,646 shares of the company's stock worth $675,000 after buying an additional 5,806 shares in the last quarter. Ethic Inc. raised its holdings in shares of Smurfit Westrock by 0.6% in the second quarter. Ethic Inc. now owns 41,103 shares of the company's stock worth $1,770,000 after acquiring an additional 254 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC increased its stake in Smurfit Westrock by 1.9% in the second quarter. Legacy Wealth Asset Management LLC now owns 13,551 shares of the company's stock valued at $585,000 after purchasing an additional 258 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company's stock.

Smurfit Westrock Trading Up 0.8%

Shares of SW opened at $43.02 on Friday. Smurfit Westrock PLC has a one year low of $37.01 and a one year high of $56.99. The stock has a 50-day moving average price of $43.76 and a 200 day moving average price of $43.81. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.45. The company has a market capitalization of $22.46 billion, a P/E ratio of 65.18 and a beta of 1.09.

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

Smurfit Westrock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, August 15th were issued a $0.4308 dividend. This represents a $1.72 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, August 15th. Smurfit Westrock's payout ratio is currently 260.61%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SW. UBS Group began coverage on Smurfit Westrock in a report on Monday, September 15th. They issued a "buy" rating and a $60.00 price target for the company. Seaport Res Ptn raised shares of Smurfit Westrock from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Wells Fargo & Company set a $52.00 price objective on Smurfit Westrock and gave the stock an "overweight" rating in a report on Tuesday, October 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Smurfit Westrock in a research report on Wednesday, October 8th. Finally, Truist Financial raised their target price on shares of Smurfit Westrock from $54.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus 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.

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