Victory Capital Management Inc. Makes New Investment in Smurfit Westrock Ltd (NYSE:SW)

Victory Capital Management Inc. purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 120,505 shares of the company’s stock, valued at approximately $5,955,000.

Several other large investors also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Smurfit Westrock during the third quarter worth about $51,430,000. GSA Capital Partners LLP acquired a new position in shares of Smurfit Westrock during the third quarter worth about $215,000. Access Investment Management LLC acquired a new position in shares of Smurfit Westrock during the third quarter worth about $16,179,000. Catalytic Wealth RIA LLC acquired a new position in shares of Smurfit Westrock during the third quarter worth about $520,000. Finally, Patten & Patten Inc. TN acquired a new position in shares of Smurfit Westrock during the third quarter worth about $49,538,000. Institutional investors own 83.38% of the company’s stock.

Analyst Upgrades and Downgrades

SW has been the subject of several recent research reports. Wells Fargo & Company reduced their price objective on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. Jefferies Financial Group reaffirmed a “hold” rating and set a $52.00 price objective on shares of Smurfit Westrock in a research report on Monday, July 29th. Morgan Stanley increased their price target on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Citigroup assumed coverage on Smurfit Westrock in a research report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price target for the company. Finally, Redburn Atlantic assumed coverage on Smurfit Westrock in a research report on Friday, August 23rd. They set a “buy” rating and a $60.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Smurfit Westrock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Smurfit Westrock Stock Up 0.5 %

SW opened at $56.65 on Friday. Smurfit Westrock Ltd has a 12-month low of $38.55 and a 12-month high of $56.99. The firm has a market capitalization of $29.47 billion, a PE ratio of 312.46 and a beta of 1.04. The company has a 50 day simple moving average of $48.48. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48.

Smurfit Westrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be given a $0.3025 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.14%. Smurfit Westrock’s payout ratio is 672.26%.

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.