Envestnet Asset Management Inc. Reduces Holdings in Smurfit Westrock PLC (NYSE:SW)

Envestnet Asset Management Inc. decreased its holdings in shares of Smurfit Westrock PLC (NYSE:SW) by 25.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 518,689 shares of the company’s stock after selling 173,365 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of Smurfit Westrock worth $23,372,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Smurfit Westrock during the 4th quarter valued at about $30,000. Tsfg LLC purchased a new stake in shares of Smurfit Westrock during the first quarter worth $30,000. Versant Capital Management Inc grew its position in shares of Smurfit Westrock by 54.0% in the first quarter. Versant Capital Management Inc now owns 779 shares of the company’s stock valued at $35,000 after purchasing an additional 273 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in Smurfit Westrock during the first quarter worth about $40,000. Finally, Huntington National Bank bought a new position in Smurfit Westrock during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Smurfit Westrock Stock Performance

SW opened at $45.42 on Wednesday. The firm has a market cap of $23.71 billion, a P/E ratio of 37.23 and a beta of 1.02. Smurfit Westrock PLC has a 1-year low of $37.01 and a 1-year high of $56.99. The company has a 50 day simple moving average of $44.35 and a two-hundred day simple moving average of $46.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.43 and a quick ratio of 0.93.

Smurfit Westrock (NYSE:SW) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.08. The business had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Smurfit Westrock had a net margin of 1.98% and a return on equity of 7.38%. The company’s revenue for the quarter was up 161.3% compared to the same quarter last year. Equities analysts forecast that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, June 18th. Shareholders of record on Monday, May 19th were given a dividend of $0.4308 per share. This represents a yield of 3.7%. The ex-dividend date was Friday, May 16th. Smurfit Westrock’s dividend payout ratio is presently 140.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SW shares. Morgan Stanley upped their target price on shares of Smurfit Westrock from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Truist Financial increased their price objective on shares of Smurfit Westrock from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, July 11th. Wells Fargo & Company raised their price target on shares of Smurfit Westrock from $43.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, July 10th. Royal Bank Of Canada cut their price target on shares of Smurfit Westrock from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Finally, Barclays dropped their target price on shares of Smurfit Westrock from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Monday, June 30th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.90.

Insider Buying and Selling at Smurfit Westrock

In related news, Director Irial Finan purchased 15,180 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average price of $39.21 per share, with a total value of $595,207.80. Following the purchase, the director owned 54,893 shares of the company’s stock, valued at $2,152,354.53. The trade was a 38.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is currently 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.