Park Avenue Securities LLC Purchases Shares of 11,359 Smurfit Westrock Ltd (NYSE:SW)

Park Avenue Securities LLC purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, HoldingsChannel reports. The firm purchased 11,359 shares of the company’s stock, valued at approximately $561,000.

Other institutional investors have also made changes to their positions in the company. AMF Tjanstepension AB acquired a new stake in Smurfit Westrock in the 3rd quarter valued at approximately $8,519,000. Czech National Bank bought a new stake in shares of Smurfit Westrock in the third quarter valued at approximately $4,967,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Smurfit Westrock in the third quarter worth $843,000. 83.38% of the stock is currently owned by institutional investors.

Smurfit Westrock Price Performance

NYSE:SW opened at $45.62 on Friday. The firm has a market capitalization of $23.69 billion, a price-to-earnings ratio of 50.13 and a beta of 1.05. Smurfit Westrock Ltd has a 12-month low of $38.55 and a 12-month high of $50.60. The business has a 50-day simple moving average of $45.06.

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

Smurfit Westrock Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.3025 per share. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 2.5%. Smurfit Westrock’s payout ratio is presently 132.97%.

Analyst Upgrades and Downgrades

SW has been the subject of a number of research reports. Redburn Atlantic assumed coverage on shares of Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Jefferies Financial Group reissued a “hold” rating and set a $52.00 target price on shares of Smurfit Westrock in a research report on Monday, July 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $52.00 price target on shares of Smurfit Westrock in a report on Wednesday, July 31st. Finally, Morgan Stanley assumed coverage on Smurfit Westrock in a report on Friday, July 19th. They set an “overweight” rating and a $60.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.50.

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.