Investors Purchase High Volume of Call Options on Smurfit Westrock (NYSE:SW)

Smurfit Westrock Ltd (NYSE:SW) was the recipient of some unusual options trading on Friday. Investors purchased 35,008 call options on the company. This represents an increase of approximately 7,838% compared to the typical daily volume of 441 call options.

Smurfit Westrock Price Performance

NYSE SW opened at $44.35 on Friday. The stock’s fifty day moving average is $45.64. The firm has a market capitalization of $11.40 billion, a price-to-earnings ratio of 37.27 and a beta of 1.05. Smurfit Westrock has a fifty-two week low of $38.55 and a fifty-two week high of $50.60.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.06). Smurfit Westrock had a net margin of 1.36% and a return on equity of 7.13%. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $7.91 billion. On average, equities research analysts predict that Smurfit Westrock will post 2.58 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The company also recently declared a semi-annual dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 15th were given a dividend of $0.3025 per share. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, August 15th. Smurfit Westrock’s payout ratio is presently 101.68%.

Analysts Set New Price Targets

Several analysts have recently issued reports on SW shares. Wells Fargo & Company dropped their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Royal Bank of Canada reissued a “sector perform” rating and set a $52.00 target price on shares of Smurfit Westrock in a report on Wednesday, July 31st. Redburn Atlantic started coverage on Smurfit Westrock in a research note on Friday, August 23rd. They issued a “buy” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $52.00 target price on shares of Smurfit Westrock in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $56.50.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new position in Smurfit Westrock in the third quarter valued at about $25,000. CVA Family Office LLC acquired a new position in shares of Smurfit Westrock in the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC purchased a new position in shares of Smurfit Westrock during the 3rd quarter worth approximately $32,000. Armstrong Advisory Group Inc. purchased a new position in shares of Smurfit Westrock during the 3rd quarter worth approximately $45,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Smurfit Westrock in the third quarter valued at approximately $83,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

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.