Swedbank AB Sells 65,121 Shares of Smurfit Westrock PLC $SW

Swedbank AB trimmed its holdings in Smurfit Westrock PLC (NYSE:SW) by 59.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,304 shares of the company’s stock after selling 65,121 shares during the quarter. Swedbank AB’s holdings in Smurfit Westrock were worth $1,912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. NBC Securities Inc. increased its stake in shares of Smurfit Westrock by 127,600.0% in the 1st quarter. NBC Securities Inc. now owns 1,277 shares of the company’s stock valued at $57,000 after acquiring an additional 1,276 shares during the last quarter. Czech National Bank raised its stake in shares of Smurfit Westrock by 6.7% during the 2nd quarter. Czech National Bank now owns 121,218 shares of the company’s stock worth $5,231,000 after purchasing an additional 7,657 shares in the last quarter. QRG Capital Management Inc. raised its stake in Smurfit Westrock by 106.3% in the 1st quarter. QRG Capital Management Inc. now owns 11,709 shares of the company’s stock valued at $528,000 after acquiring an additional 6,032 shares during the period. Foresight Group Ltd Liability Partnership bought a new position in Smurfit Westrock during the 1st quarter worth $26,028,000. Finally, State of Alaska Department of Revenue increased its position in Smurfit Westrock by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 57,939 shares of the company’s stock worth $2,610,000 after buying an additional 1,600 shares during the period. 83.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SW. Jefferies Financial Group raised Smurfit Westrock from a “hold” rating to a “buy” rating and raised their price objective for the company from $44.00 to $55.00 in a research note on Monday, June 16th. Truist Financial raised their price objective on Smurfit Westrock from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Wells Fargo & Company lifted their target price on Smurfit Westrock from $45.00 to $46.00 and gave the stock an “equal weight” rating in a report on Thursday, July 31st. Barclays reduced their price objective on Smurfit Westrock from $64.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, June 30th. Finally, Morgan Stanley lifted their target price on Smurfit Westrock from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Smurfit Westrock Stock Performance

NYSE:SW opened at $43.39 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.45. Smurfit Westrock PLC has a 52-week low of $37.01 and a 52-week high of $56.99. The firm has a market cap of $22.65 billion, a price-to-earnings ratio of 65.74 and a beta of 1.04. The business’s fifty day moving average is $45.29 and its 200 day moving average is $44.15.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). Smurfit Westrock had a net margin of 1.14% and a return on equity of 5.90%. The company had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $7.88 billion. The company’s revenue for the quarter was up 167.4% on a year-over-year basis. Research analysts predict that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, August 15th were paid a $0.4308 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, August 15th. Smurfit Westrock’s dividend payout ratio is currently 260.61%.

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.