Smurfit Westrock Ltd (NYSE:SW) Shares Acquired by Cibc World Markets Corp

Cibc World Markets Corp increased its position in shares of Smurfit Westrock Ltd (NYSE:SW) by 426.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 360,766 shares of the company’s stock after purchasing an additional 292,268 shares during the quarter. Cibc World Markets Corp owned 0.07% of Smurfit Westrock worth $19,431,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Assetmark Inc. raised its stake in shares of Smurfit Westrock by 16.6% during the 4th quarter. Assetmark Inc. now owns 1,390 shares of the company’s stock worth $75,000 after buying an additional 198 shares during the last quarter. Stephens Inc. AR raised its position in Smurfit Westrock by 3.7% during the fourth quarter. Stephens Inc. AR now owns 5,616 shares of the company’s stock worth $302,000 after acquiring an additional 199 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Smurfit Westrock by 49.1% in the fourth quarter. Principal Securities Inc. now owns 695 shares of the company’s stock valued at $37,000 after purchasing an additional 229 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Smurfit Westrock by 117.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock valued at $28,000 after purchasing an additional 279 shares during the last quarter. Finally, DAVENPORT & Co LLC increased its stake in shares of Smurfit Westrock by 0.5% during the 4th quarter. DAVENPORT & Co LLC now owns 55,898 shares of the company’s stock worth $3,011,000 after purchasing an additional 299 shares in the last quarter. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SW. Morgan Stanley lowered their target price on Smurfit Westrock from $66.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, March 11th. JPMorgan Chase & Co. lifted their price objective on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Truist Financial started coverage on shares of Smurfit Westrock in a report on Tuesday, January 21st. They issued a “buy” rating and a $62.00 target price on the stock. Citigroup lifted their price target on shares of Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Barclays upped their price objective on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.70.

Smurfit Westrock Stock Up 2.3 %

Shares of SW opened at $45.29 on Tuesday. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $56.99. The company’s fifty day moving average is $51.79 and its two-hundred day moving average is $50.69. The firm has a market cap of $23.64 billion, a PE ratio of 82.35 and a beta of 0.99. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.72.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. 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. Investors of record on Friday, February 14th will be issued a $0.4308 dividend. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.72 annualized dividend and a yield of 3.80%. Smurfit Westrock’s dividend payout ratio (DPR) is presently 312.73%.

Insider Buying and Selling at Smurfit Westrock

In other news, insider Ken Bowles sold 24,225 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total value of $1,333,828.50. Following the completion of the sale, the insider now 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alvaro Henao sold 4,000 shares of the stock in a transaction dated Monday, February 24th. The shares were 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 owns 44,361 shares of the company’s stock, valued at approximately $2,391,057.90. This trade represents a 8.27 % decrease in their position. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

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.