Smurfit Westrock PLC $SW Shares Acquired by Artemis Investment Management LLP

Key Points

• Artemis Investment Management increased its Smurfit Westrock stake by 719.6% in the third quarter, acquiring 2.82 million additional shares for a total holding of 3.21 million shares valued at approximately $141.8 million.
• Analysts remain broadly positive, with 11 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $57.31, well above the reported share price of $41.07.
• Smurfit Westrock reported quarterly revenue of $8.03 billion, exceeding estimates, but adjusted earnings of $0.35 per share missed expectations. The company also pays a quarterly dividend of $0.4523, representing a 4.4% annualized yield.

Artemis Investment Management LLP increased its stake in Smurfit Westrock PLC (NYSE:SW - Free Report) by 719.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,214,979 shares of the company's stock after purchasing an additional 2,822,720 shares during the period. Smurfit Westrock accounts for 1.1% of Artemis Investment Management LLP's portfolio, making the stock its 24th largest holding. Artemis Investment Management LLP owned about 0.61% of Smurfit Westrock worth $141,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the business. Root Financial Partners LLC raised its stake in shares of Smurfit Westrock by 187.6% during the first quarter. Root Financial Partners LLC now owns 768 shares of the company's stock worth $31,000 after buying an additional 501 shares during the last quarter. Axiom Investment Management LLC acquired a new stake in Smurfit Westrock during the 1st quarter worth $62,000. Bessemer Group Inc. raised its position in shares of Smurfit Westrock by 93.1% during the 1st quarter. Bessemer Group Inc. now owns 3,208 shares of the company's stock valued at $128,000 after acquiring an additional 1,547 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Smurfit Westrock in the 2nd quarter valued at $153,000. Finally, Continuum Advisory LLC bought a new position in shares of Smurfit Westrock in the 2nd quarter worth $172,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SW shares. Barclays raised their target price on Smurfit Westrock from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Loop Capital set a $71.00 price target on shares of Smurfit Westrock in a research report on Tuesday, July 28th. Wells Fargo & Company lifted their price objective on shares of Smurfit Westrock from $52.00 to $55.00 and gave the stock an "overweight" rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Smurfit Westrock in a research note on Tuesday, June 23rd. They issued a "buy" rating and a $57.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Smurfit Westrock from $68.00 to $69.00 and gave the company an "overweight" rating in a research report on Wednesday, September 23rd. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.31.

Smurfit Westrock Stock Down 0.5%

Shares of Smurfit Westrock stock traded down $0.22 on Thursday, hitting $41.07. The company had a trading volume of 1,642,001 shares, compared to its average volume of 5,481,190. The firm has a market capitalization of $21.54 billion, a P/E ratio of 43.62, a P/E/G ratio of 1.36 and a beta of 0.96. Smurfit Westrock PLC has a twelve month low of $32.73 and a twelve month high of $52.65. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 0.96. The stock has a 50-day moving average of $46.21 and a 200-day moving average of $43.51.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.42 by ($0.07). The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.93 billion. Smurfit Westrock had a return on equity of 4.60% and a net margin of 1.59%.The company's revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Research analysts predict that Smurfit Westrock PLC will post 1.98 earnings per share for the current year.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Friday, August 14th were issued a $0.4523 dividend. This represents a $1.81 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Friday, August 14th. Smurfit Westrock's payout ratio is 192.55%.

Smurfit Westrock Profile

Smurfit Westrock plc NYSE: SW is a global provider of paper-based packaging solutions. The company manufactures corrugated packaging, folding cartons, paper bags and sacks, beverage packaging, consumer packaging, point-of-sale displays, and other customized products designed to protect, transport, and present goods.

The company also operates paper mills, recycling facilities, and packaging-design and testing operations. Its products serve customers in industries including food and beverage, consumer goods, retail, industrial products, and e-commerce.

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