MetLife Investment Management LLC Takes $6.36 Million Position in Smurfit Westrock Ltd (NYSE:SW)

MetLife Investment Management LLC bought a new stake in Smurfit Westrock Ltd (NYSE:SW) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 128,702 shares of the company’s stock, valued at approximately $6,360,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC acquired a new position in shares of Smurfit Westrock during the third quarter valued at about $431,653,000. Mizuho Securities USA LLC acquired a new position in Smurfit Westrock during the 3rd quarter valued at about $386,712,000. Charles Schwab Investment Management Inc. bought a new stake in Smurfit Westrock during the 3rd quarter worth approximately $151,212,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Smurfit Westrock in the third quarter worth approximately $129,491,000. Finally, Citigroup Inc. bought a new position in shares of Smurfit Westrock in the third quarter valued at approximately $77,207,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SW. Wells Fargo & Company decreased their price target 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 began coverage on shares of Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research report on Friday, November 15th. Citigroup started coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.57.

Smurfit Westrock Trading Up 0.5 %

NYSE:SW opened at $55.02 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 debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The business has a 50 day moving average of $49.48. The company has a market cap of $28.62 billion, a PE ratio of 305.68 and a beta of 1.04.

Smurfit Westrock Announces Dividend

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

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.