Redwood Grove Capital LLC Takes $15.75 Million Position in Smurfit Westrock Ltd (NYSE:SW)

Redwood Grove Capital LLC purchased a new stake in shares of Smurfit Westrock Ltd (NYSE:SW) in the third quarter, HoldingsChannel reports. The institutional investor purchased 318,594 shares of the company’s stock, valued at approximately $15,745,000. Smurfit Westrock comprises about 4.3% of Redwood Grove Capital LLC’s investment portfolio, making the stock its 16th largest position.

Other large investors have also recently modified their holdings of the company. Polar Asset Management Partners Inc. purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $4,082,000. Melqart Asset Management UK Ltd purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $35,668,000. Ingalls & Snyder LLC purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $246,000. Investment Management Corp of Ontario purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $852,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $47,395,000. Institutional investors own 83.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SW shares. Redburn Atlantic started coverage on Smurfit Westrock in a report on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price objective on shares of Smurfit Westrock in a report on Friday, November 15th. Wells Fargo & Company decreased their price target on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Finally, Citigroup started 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.57.

Smurfit Westrock Stock Down 1.2 %

NYSE SW opened at $54.57 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $56.99. The company has a market capitalization of $28.39 billion, a price-to-earnings ratio of 303.18 and a beta of 1.04. The company’s 50 day moving average price is $49.93.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be issued a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is 672.26%.

Insiders Place Their Bets

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

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.