Fifth Third Bancorp Has $445,000 Holdings in Smurfit Westrock Ltd (NYSE:SW)

Fifth Third Bancorp trimmed its holdings in Smurfit Westrock Ltd (NYSE:SW) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,271 shares of the company’s stock after selling 965 shares during the period. Fifth Third Bancorp’s holdings in Smurfit Westrock were worth $445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in SW. State Street Corp acquired a new position in Smurfit Westrock in the 3rd quarter valued at $967,582,000. Geode Capital Management LLC bought a new stake in Smurfit Westrock during the third quarter worth about $627,244,000. FMR LLC bought a new stake in Smurfit Westrock during the third quarter worth about $431,653,000. Mizuho Securities USA LLC acquired a new stake in Smurfit Westrock during the third quarter worth about $386,712,000. Finally, Soros Fund Management LLC bought a new position in Smurfit Westrock in the 3rd quarter valued at about $340,848,000. 83.38% of the stock is currently owned by institutional investors.

Smurfit Westrock Stock Performance

NYSE:SW opened at $53.30 on Friday. The stock’s 50-day moving average is $53.94 and its 200-day moving average is $49.19. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $56.99. The stock has a market cap of $27.72 billion, a P/E ratio of 296.12 and a beta of 1.03.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.23). The business had revenue of $7.67 billion for the quarter, compared to analyst estimates of $8.04 billion. Smurfit Westrock had a positive return on equity of 5.98% and a negative net margin of 0.12%. During the same quarter last year, the firm posted $0.81 EPS. Equities research analysts anticipate that Smurfit Westrock Ltd will post 2.65 earnings per share for the current year.

Smurfit Westrock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be given a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.23%. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. Smurfit Westrock’s dividend payout ratio (DPR) is 672.22%.

Analysts Set New Price Targets

SW has been the topic of several analyst reports. Argus began coverage on shares of Smurfit Westrock in a research report on Thursday, December 5th. They set a “buy” rating and a $62.00 price target on the stock. Wells Fargo & Company reduced their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a report on Friday, November 15th. Truist Financial assumed coverage on Smurfit Westrock in a research note on Tuesday, January 21st. They issued a “buy” rating and a $62.00 price objective on the stock. Finally, Barclays boosted their target price on Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Smurfit Westrock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.70.

Insider Activity at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of Smurfit Westrock stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $54.84, for a total value of $1,371,000.00. Following the completion of the transaction, the insider now directly owns 149,911 shares of the company’s stock, valued at approximately $8,221,119.24. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by company insiders.

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.