Smurfit Westrock Ltd (NYSE:SW) is Patten & Patten Inc. TN’s 3rd Largest Position

Patten & Patten Inc. TN trimmed its holdings in Smurfit Westrock Ltd (NYSE:SW) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 982,190 shares of the company’s stock after selling 20,203 shares during the period. Smurfit Westrock makes up about 3.5% of Patten & Patten Inc. TN’s portfolio, making the stock its 3rd biggest holding. Patten & Patten Inc. TN’s holdings in Smurfit Westrock were worth $52,901,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Retirement Wealth Solutions LLC acquired a new position in shares of Smurfit Westrock in the 4th quarter valued at approximately $25,000. Versant Capital Management Inc acquired a new position in shares of Smurfit Westrock in the 4th quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Smurfit Westrock by 117.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock valued at $28,000 after acquiring an additional 279 shares in the last quarter. Deseret Mutual Benefit Administrators acquired a new stake in shares of Smurfit Westrock during the 4th quarter valued at approximately $30,000. Finally, Spire Wealth Management acquired a new stake in shares of Smurfit Westrock during the 4th quarter valued at approximately $36,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SW shares. Barclays upped their price target on Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. 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 on the stock. Morgan Stanley dropped their price target on Smurfit Westrock from $66.00 to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Citigroup upped their price target on Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Truist Financial began coverage on Smurfit Westrock in a research note on Tuesday, January 21st. They set a “buy” rating and a $62.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Smurfit Westrock has a consensus rating of “Moderate Buy” and an average target price of $60.70.

Smurfit Westrock Price Performance

Shares of SW opened at $44.26 on Friday. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $56.99. The company has a market cap of $23.10 billion, a P/E ratio of 80.47 and a beta of 0.99. The stock has a fifty day moving average price of $51.96 and a 200 day moving average price of $50.68. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.89.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. On average, research analysts forecast that Smurfit Westrock Ltd will post 3.25 earnings per share for the current year.

Smurfit Westrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be paid a $0.4308 dividend. This is a boost from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 14th. This represents a $1.72 annualized dividend and a dividend yield of 3.89%. Smurfit Westrock’s dividend payout ratio is presently 312.73%.

Insider Transactions at Smurfit Westrock

In other news, insider Ken Bowles sold 24,225 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the completion of the sale, the insider now directly owns 111,458 shares of the company’s stock, valued at $6,136,877.48. This represents a 17.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alvaro Henao sold 4,000 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $53.90, for a total value of $215,600.00. Following the completion of the sale, the insider now directly owns 44,361 shares of the company’s stock, valued at approximately $2,391,057.90. This represents a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

About Smurfit Westrock

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.