BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys Shares of 86,660 Smurfit Westrock Ltd (NYSE:SW)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 86,660 shares of the company’s stock, valued at approximately $4,283,000.

Several other institutional investors have also modified their holdings of the business. FMR LLC bought a new position in Smurfit Westrock in the third quarter valued at approximately $431,653,000. Mizuho Securities USA LLC bought a new stake in shares of Smurfit Westrock during the third quarter worth $386,712,000. Charles Schwab Investment Management Inc. bought a new stake in Smurfit Westrock in the 3rd quarter valued at $151,212,000. Thompson Siegel & Walmsley LLC acquired a new position in Smurfit Westrock in the 3rd quarter worth $129,491,000. Finally, Citigroup Inc. bought a new position in Smurfit Westrock during the 3rd quarter worth about $77,207,000. Institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Trading Up 0.2 %

Shares of SW opened at $55.21 on Wednesday. The firm has a market capitalization of $28.72 billion, a P/E ratio of 306.74 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. The stock’s fifty day moving average price is $49.80. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $56.99.

Smurfit Westrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be issued a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.19%. Smurfit Westrock’s payout ratio is 672.26%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SW shares. Wells Fargo & Company decreased their price objective 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. JPMorgan Chase & Co. raised their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Citigroup assumed 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 on the stock. Morgan Stanley raised their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.