Kovitz Investment Group Partners LLC purchased a new stake in shares of Smurfit Westrock Ltd (NYSE:SW - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 53,762 shares of the company's stock, valued at approximately $2,535,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of SW. Private Management Group Inc. purchased a new position in Smurfit Westrock during the third quarter valued at approximately $9,405,000. Intech Investment Management LLC bought a new position in Smurfit Westrock in the 3rd quarter valued at $597,000. Moors & Cabot Inc. purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at $520,000. Citigroup Inc. purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at $77,207,000. Finally, Catalytic Wealth RIA LLC bought a new position in shares of Smurfit Westrock in the third quarter worth $520,000. 83.38% of the stock is owned by hedge funds and other institutional investors.
Shares of SW opened at $54.37 on Tuesday. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $56.99. The company has a market cap of $28.28 billion, a price-to-earnings ratio of 302.06 and a beta of 1.04. The business has a 50 day simple moving average of $50.23. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.3025 per share. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.23%. Smurfit Westrock's dividend payout ratio (DPR) is currently 672.22%.
In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of Smurfit Westrock stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $54.84, for a total value of $1,371,000.00. Following the transaction, the insider now directly owns 149,911 shares of the company's stock, valued at $8,221,119.24. The trade was a 14.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is currently owned by corporate insiders.
Several equities research analysts recently issued reports on SW shares. Royal Bank of Canada reissued an "outperform" rating and set a $58.00 price objective on shares of Smurfit Westrock in a research note on Friday, November 15th. Wells Fargo & Company cut their price objective on Smurfit Westrock from $53.00 to $50.00 and set an "equal weight" rating for the company in a report on Monday, October 7th. Redburn Atlantic started coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They issued a "buy" rating and a $60.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an "overweight" rating in a research note on Friday, November 29th. Finally, Morgan Stanley raised their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an "overweight" rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $59.00.
View Our Latest Stock Analysis on SW
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.
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