Smurfit Westrock (NYSE:SW) Shares Gap Down – Here’s Why

Smurfit Westrock Ltd (NYSE:SW) gapped down before the market opened on Friday . The stock had previously closed at $40.27, but opened at $39.20. Smurfit Westrock shares last traded at $39.40, with a volume of 511,951 shares.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SW shares. Truist Financial started coverage on Smurfit Westrock in a report on Tuesday, January 21st. They set a “buy” rating and a $62.00 price target for the company. Citigroup upped their price target on Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company dropped their price objective 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. Finally, Morgan Stanley decreased their target price on Smurfit Westrock from $66.00 to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Smurfit Westrock currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Smurfit Westrock Stock Up 1.3 %

The stock has a market cap of $21.30 billion, a price-to-earnings ratio of 74.20 and a beta of 1.00. The firm’s 50-day moving average is $47.56 and its 200 day moving average is $50.22. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.89.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. Sell-side analysts anticipate that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th were given a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.22%. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 14th. Smurfit Westrock’s payout ratio is presently 312.73%.

Insider Activity

In other Smurfit Westrock news, insider Ken Bowles sold 24,225 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the completion of the transaction, the insider now owns 111,458 shares in the company, valued at approximately $6,136,877.48. The trade was a 17.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alvaro Henao sold 4,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 44,361 shares of the company’s stock, valued at $2,391,057.90. This trade represents a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On Smurfit Westrock

A number of hedge funds and other institutional investors have recently modified their holdings of SW. Retirement Wealth Solutions LLC acquired a new stake in shares of Smurfit Westrock during the fourth quarter worth approximately $25,000. Versant Capital Management Inc acquired a new stake in shares of Smurfit Westrock in the fourth quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Smurfit Westrock by 117.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock valued at $28,000 after purchasing an additional 279 shares during the last quarter. Deseret Mutual Benefit Administrators acquired a new stake in shares of Smurfit Westrock in the fourth quarter worth $30,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Smurfit Westrock in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Smurfit Westrock Company 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.