Recurrent Investment Advisors LLC Acquires Shares of 18,452 Smurfit Westrock Ltd (NYSE:SW)

Recurrent Investment Advisors LLC acquired a new stake in Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 18,452 shares of the company’s stock, valued at approximately $912,000.

Other institutional investors also recently bought and sold shares of the company. Redwood Grove Capital LLC purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $15,745,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $4,082,000. Melqart Asset Management UK Ltd purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $35,668,000. Ingalls & Snyder LLC purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $246,000. Finally, Investment Management Corp of Ontario purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $852,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $58.00 target price on shares of Smurfit Westrock in a research report on Friday, November 15th. Wells Fargo & Company decreased their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Redburn Atlantic initiated coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Citigroup initiated 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. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.57.

Insider Activity

In other news, insider Saverio Mayer sold 25,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the transaction, the insider now owns 149,911 shares of the company’s stock, valued at $8,221,119.24. This represents a 14.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.49% of the company’s stock.

Smurfit Westrock Trading Down 1.2 %

NYSE:SW opened at $54.57 on Thursday. Smurfit Westrock Ltd has a 12-month low of $38.55 and a 12-month high of $56.99. The company has a 50-day moving average price of $49.93. 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 has a market cap of $28.39 billion, a price-to-earnings ratio of 303.18 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. Stockholders of record on Friday, November 15th will be paid a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is currently 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.