ARGA Investment Management LP Takes $92.07 Million Position in Smurfit Westrock Ltd (NYSE:SW)

ARGA Investment Management LP bought a new stake in Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 1,842,428 shares of the company’s stock, valued at approximately $92,072,000. Smurfit Westrock accounts for 3.0% of ARGA Investment Management LP’s investment portfolio, making the stock its 11th largest holding. ARGA Investment Management LP owned about 0.35% of Smurfit Westrock as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SW. Mather Group LLC. acquired a new stake in Smurfit Westrock in the third quarter valued at approximately $25,000. CVA Family Office LLC purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new stake in Smurfit Westrock in the 3rd quarter valued at $32,000. Waldron Private Wealth LLC purchased a new stake in Smurfit Westrock in the 3rd quarter worth $35,000. Finally, Cromwell Holdings LLC purchased a new position in Smurfit Westrock during the third quarter valued at $42,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Performance

Shares of Smurfit Westrock stock opened at $55.02 on Friday. The stock’s 50 day moving average is $49.48. The stock has a market capitalization of $28.62 billion, a P/E ratio of 305.68 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $56.99.

Smurfit Westrock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.3025 per share. The ex-dividend date is Friday, November 15th. This represents a $1.21 annualized dividend and a dividend yield of 2.20%. Smurfit Westrock’s dividend payout ratio is presently 672.26%.

Analyst Upgrades and Downgrades

SW has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Redburn Atlantic assumed coverage on Smurfit Westrock in a report on Friday, August 23rd. They set a “buy” rating and a $60.00 target price for the company. Citigroup assumed coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target on the stock. Wells Fargo & Company reduced their price objective on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $58.00 target price on shares of Smurfit Westrock in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.57.

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.