Trinity Street Asset Management LLP Acquires Shares of 5,261,555 Smurfit Westrock PLC $SW

Key Points

• Trinity Street Asset Management acquired 5.26 million Smurfit Westrock shares worth approximately $243.4 million, giving it a 1% stake and making SW its third-largest holding. Institutional investors collectively own 83.38% of the company.
• Smurfit Westrock reported quarterly EPS of $0.35, below the $0.42 analyst consensus, while revenue of $8.03 billion exceeded estimates and rose 1.1% year over year.
• The company declared a quarterly dividend of $0.4523 per share, equivalent to a 3.7% annual yield. Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $57.62 versus a recent price of $49.21.

Trinity Street Asset Management LLP bought a new stake in Smurfit Westrock PLC (NYSE:SW - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,261,555 shares of the company's stock, valued at approximately $243,400,000. Smurfit Westrock comprises approximately 12.5% of Trinity Street Asset Management LLP's holdings, making the stock its 3rd largest holding. Trinity Street Asset Management LLP owned 1.00% of Smurfit Westrock at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Handelsbanken Fonder AB grew its holdings in shares of Smurfit Westrock by 23.4% during the second quarter. Handelsbanken Fonder AB now owns 194,600 shares of the company's stock worth $9,002,000 after buying an additional 36,900 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in Smurfit Westrock by 23.1% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 31,416 shares of the company's stock valued at $1,453,000 after acquiring an additional 5,905 shares during the last quarter. Kwmg LLC lifted its position in Smurfit Westrock by 3.7% during the 2nd quarter. Kwmg LLC now owns 154,330 shares of the company's stock worth $7,139,000 after acquiring an additional 5,444 shares during the period. Czech National Bank lifted its position in Smurfit Westrock by 4.9% during the 2nd quarter. Czech National Bank now owns 149,283 shares of the company's stock worth $6,906,000 after acquiring an additional 7,009 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Smurfit Westrock by 31.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 25,213 shares of the company's stock valued at $1,166,000 after purchasing an additional 6,022 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company's stock.

Smurfit Westrock Stock Down 0.8%

SW opened at $49.21 on Thursday. 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 business has a 50 day simple moving average of $45.23 and a 200-day simple moving average of $43.18. The stock has a market capitalization of $25.81 billion, a P/E ratio of 52.35, a P/E/G ratio of 0.88 and a beta of 0.96. Smurfit Westrock PLC has a 12 month low of $32.73 and a 12 month high of $52.65.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.07). The business 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 period in the prior year, the company earned ($0.05) EPS. On average, equities analysts anticipate that Smurfit Westrock PLC will post 2.13 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a dividend of $0.4523 per share. This represents a $1.81 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, August 14th. Smurfit Westrock's payout ratio is presently 192.55%.

Analysts Set New Price Targets

SW has been the topic of a number of recent research reports. Loop Capital set a $71.00 target price on Smurfit Westrock in a report on Tuesday, July 28th. Morgan Stanley reiterated an "overweight" rating and issued a $57.00 price objective on shares of Smurfit Westrock in a research report on Wednesday, May 6th. Citigroup boosted their price objective on shares of Smurfit Westrock from $56.00 to $57.00 and gave the company a "buy" rating in a research note on Tuesday, August 4th. Seaport Research Partners restated a "buy" rating and set a $54.00 price objective on shares of Smurfit Westrock in a research report on Wednesday. Finally, Truist Financial raised their target price on shares of Smurfit Westrock from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Smurfit Westrock has an average rating of "Moderate Buy" and an average target price of $57.62.

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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