Gateway Investment Advisers LLC Takes Position in Smurfit Westrock Ltd (NYSE:SW)

Gateway Investment Advisers LLC purchased a new position in shares of Smurfit Westrock Ltd (NYSE:SW) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 142,915 shares of the company’s stock, valued at approximately $7,063,000.

Several other large investors have also bought and sold shares of the business. Boston Common Asset Management LLC acquired a new position in Smurfit Westrock in the third quarter valued at about $16,262,000. AMF Tjanstepension AB acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $8,519,000. Kwmg LLC bought a new stake in Smurfit Westrock during the 3rd quarter worth approximately $6,493,000. Czech National Bank acquired a new stake in Smurfit Westrock during the 3rd quarter worth approximately $4,967,000. Finally, Sage Capital Advisors llc bought a new position in Smurfit Westrock in the third quarter valued at approximately $3,929,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Price Performance

Shares of NYSE SW opened at $45.60 on Friday. The firm has a 50-day moving average of $45.13. The company has a market cap of $23.68 billion, a PE ratio of 50.11 and a beta of 1.05. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $50.60.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.06). The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $7.91 billion. Smurfit Westrock had a net margin of 1.36% and a return on equity of 7.13%. On average, sell-side analysts anticipate that Smurfit Westrock Ltd will post 2.58 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 15th were paid a $0.3025 dividend. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 2.5%. Smurfit Westrock’s dividend payout ratio is presently 132.97%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SW. Morgan Stanley initiated coverage on shares of Smurfit Westrock in a research report on Friday, July 19th. They set an “overweight” rating and a $60.00 price objective for the company. Wells Fargo & Company lowered their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Redburn Atlantic assumed coverage on Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price target on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $52.00 price objective on shares of Smurfit Westrock in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. dropped their target price on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.50.

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.