Smurfit Westrock PLC $SW Shares Bought by New York State Teachers Retirement System

Key Points

• New York State Teachers Retirement System increased its Smurfit Westrock stake by 9% in the first quarter, bringing holdings to 354,796 shares worth about $14.1 million.
• Smurfit Westrock shares were slightly lower and opened at $45.89, while the company’s market cap stood at $24.07 billion. The stock remains below its 52-week high of $52.65 but above its 52-week low of $32.73.
• The company recently reported mixed quarterly results: EPS of $0.33 missed estimates, but revenue of $7.71 billion came in above expectations. Smurfit Westrock also paid a quarterly dividend of $0.4523 per share, yielding 3.9% annualized.

New York State Teachers Retirement System raised its holdings in Smurfit Westrock PLC (NYSE:SW - Free Report) by 9.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 354,796 shares of the company's stock after buying an additional 29,278 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Smurfit Westrock worth $14,139,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SW. AQR Capital Management LLC grew its position in Smurfit Westrock by 90.5% during the 1st quarter. AQR Capital Management LLC now owns 13,425 shares of the company's stock worth $593,000 after purchasing an additional 6,378 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Smurfit Westrock by 6.7% during the first quarter. Integrated Wealth Concepts LLC now owns 5,501 shares of the company's stock worth $248,000 after buying an additional 346 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Smurfit Westrock by 5.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,559 shares of the company's stock worth $2,188,000 after buying an additional 2,698 shares during the period. NewEdge Advisors LLC grew its holdings in shares of Smurfit Westrock by 192.3% during the first quarter. NewEdge Advisors LLC now owns 13,264 shares of the company's stock valued at $598,000 after buying an additional 8,726 shares during the last quarter. Finally, Woodline Partners LP increased its position in shares of Smurfit Westrock by 40.8% in the 1st quarter. Woodline Partners LP now owns 41,772 shares of the company's stock valued at $1,882,000 after acquiring an additional 12,096 shares during the period. Hedge funds and other institutional investors own 83.38% of the company's stock.

Smurfit Westrock Trading Down 0.1%

Smurfit Westrock stock opened at $45.89 on Monday. The firm has a market cap of $24.07 billion, a PE ratio of 63.74, a P/E/G ratio of 0.92 and a beta of 0.95. Smurfit Westrock PLC has a 12 month low of $32.73 and a 12 month high of $52.65. The stock's 50 day simple moving average is $41.72 and its two-hundred day simple moving average is $42.02. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73.

Smurfit Westrock (NYSE:SW - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Smurfit Westrock had a net margin of 1.22% and a return on equity of 4.96%. The firm had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.57 billion. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business's revenue for the quarter was up .7% on a year-over-year basis. Analysts anticipate that Smurfit Westrock PLC will post 2.31 earnings per share for the current year.

Smurfit Westrock Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a $0.4523 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.81 dividend on an annualized basis and a dividend yield of 3.9%. Smurfit Westrock's dividend payout ratio is 251.39%.

Analyst Upgrades and Downgrades

SW has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Smurfit Westrock in a research note on Tuesday, June 23rd. They issued a "buy" rating and a $57.00 target price for the company. Wells Fargo & Company dropped their target price on Smurfit Westrock from $55.00 to $50.00 and set an "overweight" rating on the stock in a research report on Friday, March 20th. JPMorgan Chase & Co. reduced their price target on shares of Smurfit Westrock from $64.00 to $62.00 and set an "overweight" rating for the company in a research report on Friday, May 1st. Truist Financial set a $50.00 target price on shares of Smurfit Westrock in a report on Friday, May 1st. Finally, Wall Street Zen downgraded shares of Smurfit Westrock from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Smurfit Westrock currently has an average rating of "Moderate Buy" and an average target price of $53.33.

Smurfit Westrock Company 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.

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