Sound Shore Management Inc. CT Takes $60.14 Million Position in Smurfit Westrock PLC $SW

Key Points

• Sound Shore Management Inc. CT disclosed a new first-quarter position in Smurfit Westrock, buying 1,509,136 shares valued at about $60.1 million. The stake represented 0.29% of the company.
• Institutional interest in Smurfit Westrock remains strong, with 83.38% of the stock owned by institutional investors. Several funds increased holdings in the quarter, while analyst sentiment is largely positive with a consensus rating of “Moderate Buy” and a target price of $54.83.
• Smurfit Westrock reported quarterly EPS of $0.33, missing estimates, though revenue of $7.71 billion came in above expectations. The company also paid a quarterly dividend of $0.4523 per share, implying an annualized yield of about 4.1%.

Sound Shore Management Inc. CT purchased a new position in Smurfit Westrock PLC (NYSE:SW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,509,136 shares of the company's stock, valued at approximately $60,139,000. Sound Shore Management Inc. CT owned 0.29% of Smurfit Westrock as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SW. Morgan Stanley restated an "overweight" rating and set a $57.00 price objective on shares of Smurfit Westrock in a research note on Wednesday, May 6th. Barclays cut their target price on Smurfit Westrock from $54.00 to $52.00 and set an "overweight" rating on the stock in a research note on Thursday, May 21st. Wells Fargo & Company boosted their target price on shares of Smurfit Westrock from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Zacks Research upgraded shares of Smurfit Westrock from a "strong sell" rating to a "hold" rating in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group began coverage on shares of Smurfit Westrock in a research report on Tuesday, March 24th. They issued a "buy" rating and a $49.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.83.

Smurfit Westrock Stock Up 0.2%

Shares of SW stock opened at $44.39 on Monday. Smurfit Westrock PLC has a 1-year low of $32.73 and a 1-year high of $52.65. The stock's fifty day moving average price is $42.42 and its 200 day moving average price is $42.42. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.44 and a quick ratio of 0.95. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 61.66, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced 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). The business had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.57 billion. Smurfit Westrock had a net margin of 1.22% and a return on equity of 4.96%. The company's quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 earnings per share. On average, research analysts expect 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 issued a dividend of $0.4523 per share. The ex-dividend date was Friday, May 15th. This represents a $1.81 annualized dividend and a dividend yield of 4.1%. Smurfit Westrock's dividend payout ratio is 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.

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