Truist Financial Corp Sells 11,480 Shares of Smurfit Westrock PLC $SW

Key Points

• Truist Financial Corp has reduced its stake in Smurfit Westrock PLC by 38% during the second quarter, selling 11,480 shares, and now owns 18,740 shares valued at approximately $809,000.
• Smurfit Westrock announced a quarterly dividend of $0.4308 per share, resulting in a yield of 4.1%, amid a high payout ratio of 260.61%.
• The company reported a net margin of 1.14% with a revenue of $7.94 billion for the quarter, exceeding analyst expectations while its earnings per share fell short of estimates by $0.12.

Truist Financial Corp lowered its holdings in shares of Smurfit Westrock PLC (NYSE:SW - Free Report) by 38.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,740 shares of the company's stock after selling 11,480 shares during the quarter. Truist Financial Corp's holdings in Smurfit Westrock were worth $809,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SW. Moody National Bank Trust Division grew its holdings in Smurfit Westrock by 1.7% during the 2nd quarter. Moody National Bank Trust Division now owns 15,001 shares of the company's stock valued at $647,000 after buying an additional 255 shares in the last quarter. Parallel Advisors LLC grew its holdings in Smurfit Westrock by 21.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,494 shares of the company's stock valued at $64,000 after buying an additional 267 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its holdings in Smurfit Westrock by 6.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 5,053 shares of the company's stock valued at $226,000 after buying an additional 290 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Smurfit Westrock by 20.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,721 shares of the company's stock valued at $78,000 after purchasing an additional 295 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its stake in shares of Smurfit Westrock by 2.8% in the 1st quarter. Citizens Financial Group Inc. RI now owns 11,893 shares of the company's stock valued at $536,000 after purchasing an additional 328 shares during the last quarter. Hedge funds and other institutional investors own 83.38% of the company's stock.

Smurfit Westrock Trading Up 2.7%

Shares of NYSE:SW opened at $41.56 on Tuesday. Smurfit Westrock PLC has a 12-month low of $37.01 and a 12-month high of $56.99. The business's fifty day simple moving average is $44.03 and its 200-day simple moving average is $43.89. The company has a market capitalization of $21.70 billion, a PE ratio of 62.97 and a beta of 1.09. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73.

Smurfit Westrock (NYSE:SW - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.12). Smurfit Westrock had a return on equity of 5.90% and a net margin of 1.14%.The business had revenue of $7.94 billion for the quarter, compared to analysts' expectations of $7.88 billion. The business's revenue for the quarter was up 167.4% on a year-over-year basis. As a group, equities research analysts predict that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, August 15th were paid a dividend of $0.4308 per share. This represents a $1.72 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, August 15th. Smurfit Westrock's payout ratio is 260.61%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Smurfit Westrock from $51.00 to $53.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. raised their price objective on Smurfit Westrock from $60.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Smurfit Westrock in a research note on Wednesday, October 8th. Barclays decreased their price target on Smurfit Westrock from $64.00 to $63.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Finally, Seaport Res Ptn raised Smurfit Westrock from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $57.90.

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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