Woodline Partners LP Invests $1.60 Million in Smurfit Westrock Ltd (NYSE:SW)

Woodline Partners LP acquired a new stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 29,676 shares of the company's stock, valued at approximately $1,598,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC purchased a new stake in Smurfit Westrock in the third quarter worth $171,026,000. JPMorgan Chase & Co. purchased a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $221,026,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Smurfit Westrock by 117.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company's stock worth $28,000 after acquiring an additional 279 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Smurfit Westrock in the 4th quarter worth about $321,000. Finally, Blue Trust Inc. purchased a new position in Smurfit Westrock during the 4th quarter valued at about $430,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Performance

Shares of NYSE:SW traded down $0.87 during midday trading on Wednesday, reaching $43.52. 3,040,514 shares of the company's stock traded hands, compared to its average volume of 4,604,062. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37. The company has a market cap of $22.72 billion, a price-to-earnings ratio of 79.13 and a beta of 1.00. The stock has a 50 day moving average of $42.88 and a 200 day moving average of $49.15. Smurfit Westrock Ltd has a one year low of $37.01 and a one year high of $56.99.

Smurfit Westrock (NYSE:SW - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. The firm had revenue of $7.66 billion during the quarter, compared to analysts' expectations of $7.41 billion. Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. Smurfit Westrock's revenue was up 161.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.4308 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a yield of 3.7%. Smurfit Westrock's dividend payout ratio is presently 140.98%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays cut their price objective on shares of Smurfit Westrock from $68.00 to $64.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Morgan Stanley reduced their price objective on Smurfit Westrock from $66.00 to $64.00 and set an "overweight" rating for the company in a research report on Tuesday, March 11th. Wells Fargo & Company dropped their target price on Smurfit Westrock from $53.00 to $43.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Royal Bank of Canada reduced their price target on Smurfit Westrock from $57.00 to $56.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Truist Financial lowered their price target on Smurfit Westrock from $62.00 to $50.00 and set a "buy" rating for the company in a research report on Tuesday, April 22nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $58.20.

Insider Activity at Smurfit Westrock

In other Smurfit Westrock news, Director Irial Finan purchased 15,180 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were acquired at an average cost of $39.21 per share, for a total transaction of $595,207.80. Following the completion of the transaction, the director now owns 54,893 shares of the company's stock, valued at approximately $2,152,354.53. The trade was a 38.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.49% of the stock is owned by company insiders.

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.