Smurfit Westrock Ltd (NYSE:SW) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its position in Smurfit Westrock Ltd (NYSE:SW) by 29.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,487 shares of the company’s stock after purchasing an additional 9,581 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Smurfit Westrock were worth $2,309,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Old North State Wealth Management LLC increased its stake in shares of Smurfit Westrock by 1.0% in the fourth quarter. Old North State Wealth Management LLC now owns 77,437 shares of the company’s stock worth $4,174,000 after acquiring an additional 786 shares during the period. Mather Group LLC. boosted its holdings in Smurfit Westrock by 116.9% in the fourth quarter. Mather Group LLC. now owns 1,076 shares of the company’s stock valued at $58,000 after purchasing an additional 580 shares during the last quarter. abrdn plc grew its position in Smurfit Westrock by 31.1% during the 4th quarter. abrdn plc now owns 70,801 shares of the company’s stock worth $3,818,000 after purchasing an additional 16,790 shares during the period. Spire Wealth Management purchased a new position in shares of Smurfit Westrock during the 4th quarter valued at about $36,000. Finally, Journey Strategic Wealth LLC acquired a new position in shares of Smurfit Westrock in the 4th quarter valued at about $207,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on SW shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $58.00 target price on shares of Smurfit Westrock in a report on Friday, November 15th. Truist Financial initiated coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They set a “buy” rating and a $62.00 price objective on the stock. Citigroup boosted their target price on shares of Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. raised their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Finally, Argus initiated coverage on shares of Smurfit Westrock in a research report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.70.

Insiders Place Their Bets

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of Smurfit Westrock 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 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 SEC, which is available through this hyperlink. 0.49% of the stock is owned by company insiders.

Smurfit Westrock Stock Down 1.6 %

Shares of NYSE SW opened at $54.00 on Monday. The firm has a market cap of $28.10 billion, a price-to-earnings ratio of 299.99 and a beta of 1.02. The company’s 50-day simple moving average is $53.70 and its 200-day simple moving average is $49.47. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $56.99.

Smurfit Westrock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 14th will be issued a $0.4308 dividend. This represents a $1.72 annualized dividend and a yield of 3.19%. This is a boost from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 14th. Smurfit Westrock’s payout ratio is presently 672.26%.

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.