Verition Fund Management LLC Invests $3.90 Million in Smurfit Westrock Ltd (NYSE:SW)

Verition Fund Management LLC purchased a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 78,887 shares of the company’s stock, valued at approximately $3,899,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC acquired a new position in Smurfit Westrock in the third quarter valued at approximately $431,653,000. Mizuho Securities USA LLC acquired a new position in shares of Smurfit Westrock during the third quarter worth approximately $386,712,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Smurfit Westrock during the third quarter worth approximately $151,212,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Smurfit Westrock during the third quarter worth approximately $129,491,000. Finally, Citigroup Inc. acquired a new position in shares of Smurfit Westrock during the third quarter worth approximately $77,207,000. 83.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Redburn Atlantic assumed coverage on Smurfit Westrock in a research report on Friday, August 23rd. They set a “buy” rating and a $60.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $58.00 target price on shares of Smurfit Westrock in a research report on Friday, November 15th. Morgan Stanley upped their price target on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upped their price target on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Smurfit Westrock presently has an average rating of “Moderate Buy” and an average target price of $58.57.

Smurfit Westrock Price Performance

Shares of NYSE SW opened at $55.21 on Wednesday. Smurfit Westrock Ltd has a one year low of $38.55 and a one year 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 company’s fifty day moving average price is $49.80. The stock has a market cap of $28.72 billion, a PE ratio of 306.74 and a beta of 1.04.

Smurfit Westrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors 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 dividend on an annualized basis and a yield of 2.19%. Smurfit Westrock’s dividend payout ratio (DPR) is 672.26%.

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.