Smurfit Westrock PLC $SW Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,823,021 shares of the company's stock after selling 231,008 shares during the period. Bank of New York Mellon Corp owned approximately 1.68% of Smurfit Westrock worth $351,597,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SW. Capital Research Global Investors lifted its holdings in Smurfit Westrock by 31.2% in the fourth quarter. Capital Research Global Investors now owns 36,127,677 shares of the company's stock worth $1,397,057,000 after purchasing an additional 8,596,558 shares during the period. State Street Corp raised its position in shares of Smurfit Westrock by 3.6% during the 4th quarter. State Street Corp now owns 24,652,132 shares of the company's stock worth $953,311,000 after buying an additional 845,218 shares in the last quarter. Orbis Allan Gray Ltd raised its position in shares of Smurfit Westrock by 81.9% during the 2nd quarter. Orbis Allan Gray Ltd now owns 18,400,418 shares of the company's stock worth $793,978,000 after buying an additional 8,286,205 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Smurfit Westrock by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 13,795,987 shares of the company's stock worth $531,483,000 after acquiring an additional 155,778 shares during the period. Finally, Norges Bank acquired a new stake in shares of Smurfit Westrock in the 4th quarter worth approximately $495,335,000. Institutional investors and hedge funds own 83.38% of the company's stock.

Analyst Upgrades and Downgrades

SW has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Smurfit Westrock from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Barclays cut their target price on Smurfit Westrock from $54.00 to $52.00 and set an "overweight" rating for the company in a research report on Thursday, May 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $57.00 price target on shares of Smurfit Westrock in a research note on Wednesday, May 6th. UBS Group lowered their price target on Smurfit Westrock from $60.00 to $56.00 and set a "buy" rating on the stock in a research report on Monday, April 13th. Finally, Citigroup boosted their price objective on Smurfit Westrock from $51.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Smurfit Westrock currently has an average rating of "Moderate Buy" and an average price target of $54.83.

Smurfit Westrock Stock Down 0.8%

SW stock opened at $44.39 on Friday. Smurfit Westrock PLC has a 12 month low of $32.73 and a 12 month high of $52.65. The firm has a market cap of $23.28 billion, a PE ratio of 61.66, a P/E/G ratio of 0.74 and a beta of 0.95. The firm has a 50 day simple moving average of $42.42 and a 200 day simple moving average of $42.40. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.44 and a quick ratio of 0.95.

Smurfit Westrock (NYSE:SW - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The business had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.57 billion. Smurfit Westrock had a return on equity of 4.96% and a net margin of 1.22%.The company's quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 earnings per share. Equities research analysts forecast that Smurfit Westrock PLC will post 2.24 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a dividend of $0.4523 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.81 annualized dividend and a dividend yield of 4.1%. Smurfit Westrock's dividend payout ratio (DPR) is currently 251.39%.

Smurfit Westrock 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.

Want to see what other hedge funds are holding SW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Smurfit Westrock PLC (NYSE:SW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.