Nordea Investment Management AB Has $272.05 Million Stock Position in Smurfit Westrock Ltd (NYSE:SW)

Nordea Investment Management AB lifted its holdings in shares of Smurfit Westrock Ltd (NYSE:SW) by 11.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,039,818 shares of the company’s stock after acquiring an additional 500,699 shares during the period. Nordea Investment Management AB owned approximately 0.97% of Smurfit Westrock worth $272,049,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp bought a new stake in shares of Smurfit Westrock during the third quarter worth $967,582,000. Geode Capital Management LLC acquired a new position in Smurfit Westrock in the third quarter valued at about $627,244,000. FMR LLC bought a new stake in Smurfit Westrock during the 3rd quarter worth approximately $431,653,000. Mizuho Securities USA LLC bought a new position in Smurfit Westrock during the 3rd quarter worth about $386,712,000. Finally, Soros Fund Management LLC bought a new stake in Smurfit Westrock in the 3rd quarter valued at approximately $340,848,000. Institutional investors own 83.38% of the company’s stock.

Insider Buying and Selling at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the sale, the insider now owns 149,911 shares in the company, valued at approximately $8,221,119.24. The trade was a 14.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Smurfit Westrock Price Performance

SW opened at $52.30 on Monday. The stock has a market cap of $27.20 billion, a price-to-earnings ratio of 290.57 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The firm’s fifty day moving average price is $53.19. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $56.99.

Smurfit Westrock Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th were paid a $0.3025 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a yield of 2.31%. Smurfit Westrock’s dividend payout ratio (DPR) is currently 672.22%.

Analysts Set New Price Targets

Several brokerages recently commented on SW. Argus started coverage on Smurfit Westrock in a research report on Thursday, December 5th. They set a “buy” rating and a $62.00 price target for the company. Morgan Stanley increased their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Wells Fargo & Company reduced their price target on 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. Citigroup initiated coverage on shares of Smurfit Westrock in a report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price target for the company. Finally, Barclays lifted their target price on Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.00.

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.