Smurfit Westrock PLC $SW Stake Lifted by Redwood Grove Capital LLC

Key Points

• Redwood Grove Capital increased its Smurfit Westrock stake by 9.2% in the first quarter, bringing its holdings to 449,636 shares valued at approximately $17.9 million. Institutional investors collectively own 83.38% of the company.
• Smurfit Westrock reported quarterly revenue of $7.71 billion, exceeding estimates, but earnings per share of $0.33 fell short of the $0.36 consensus. Analysts project $2.24 in full-year EPS.
• The company pays a quarterly dividend of $0.4523 per share, representing a 3.6% yield, while analysts maintain a “Moderate Buy” consensus with an average price target of $56.54.

Redwood Grove Capital LLC grew its stake in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 9.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 449,636 shares of the company's stock after purchasing an additional 38,000 shares during the quarter. Smurfit Westrock accounts for 5.8% of Redwood Grove Capital LLC's investment portfolio, making the stock its 6th biggest position. Redwood Grove Capital LLC owned 0.09% of Smurfit Westrock worth $17,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Smurfit Westrock Stock Performance

Shares of SW opened at $50.79 on Wednesday. The business's 50 day moving average is $43.45 and its two-hundred day moving average is $42.76. Smurfit Westrock PLC has a 52-week low of $32.73 and a 52-week high of $52.65. The firm has a market cap of $26.64 billion, a price-to-earnings ratio of 70.55, a PEG ratio of 0.83 and a beta of 0.95. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.73.

Smurfit Westrock (NYSE:SW - Get Free Report) last released its quarterly 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 company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.57 billion. Smurfit Westrock had a return on equity of 4.96% and a net margin of 1.22%.The firm's quarterly revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 EPS. Analysts forecast that Smurfit Westrock PLC will post 2.24 EPS for the current fiscal year.

Smurfit Westrock Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $0.4523 per share. This represents a $1.81 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, May 15th. Smurfit Westrock's dividend payout ratio is 251.39%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Smurfit Westrock from $53.00 to $56.00 and gave the company an "outperform" rating in a research note on Friday, July 17th. Weiss Ratings upgraded shares of Smurfit Westrock from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. raised their price target on shares of Smurfit Westrock from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Tuesday. 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. Finally, Truist Financial boosted their price objective on shares of Smurfit Westrock from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.54.

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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