Smurfit Westrock Ltd (NYSE:SW) Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario grew its position in Smurfit Westrock Ltd (NYSE:SW - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,917 shares of the company's stock after acquiring an additional 5,677 shares during the quarter. Investment Management Corp of Ontario's holdings in Smurfit Westrock were worth $1,234,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Smurfit Westrock during the 4th quarter valued at about $1,300,041,000. Boston Partners bought a new stake in shares of Smurfit Westrock during the fourth quarter valued at approximately $304,377,000. Victory Capital Management Inc. grew its stake in Smurfit Westrock by 4,456.7% in the fourth quarter. Victory Capital Management Inc. now owns 5,491,092 shares of the company's stock worth $295,750,000 after purchasing an additional 5,370,587 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Smurfit Westrock during the 3rd quarter worth $221,026,000. Finally, FIL Ltd increased its holdings in Smurfit Westrock by 68.2% during the 4th quarter. FIL Ltd now owns 10,962,433 shares of the company's stock worth $590,853,000 after purchasing an additional 4,444,704 shares during the period. Hedge funds and other institutional investors own 83.38% of the company's stock.

Wall Street Analyst Weigh In

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

Smurfit Westrock Stock Performance

Shares of Smurfit Westrock stock traded down $0.01 on Friday, reaching $46.62. 3,141,946 shares of the stock were exchanged, compared to its average volume of 4,669,293. The business has a 50 day moving average price of $42.83 and a two-hundred day moving average price of $49.50. The firm has a market capitalization of $24.34 billion, a price-to-earnings ratio of 84.77 and a beta of 1.00. Smurfit Westrock Ltd has a twelve month low of $37.01 and a twelve month high of $56.99. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.72.

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, topping analysts' consensus estimates of $0.65 by $0.08. Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. The firm had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.41 billion. The business's revenue was up 161.3% compared to the same quarter last year. Analysts anticipate that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Announces Dividend

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

Insider Buying and Selling

In related news, insider Alvaro Henao sold 4,000 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $53.90, for a total transaction of $215,600.00. Following the completion of the sale, the insider now owns 44,361 shares of the company's stock, valued at approximately $2,391,057.90. This represents a 8.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Irial Finan purchased 15,180 shares of Smurfit Westrock stock in a transaction dated Tuesday, May 6th. The shares were bought at an average price of $39.21 per share, for a total transaction of $595,207.80. Following the acquisition, the director now owns 54,893 shares in the company, valued at approximately $2,152,354.53. This trade represents a 38.22% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.49% of the stock is owned by corporate insiders.

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.