Kimelman & Baird LLC Takes $511,000 Position in Smurfit Westrock Ltd (NYSE:SW)

Kimelman & Baird LLC acquired a new position in shares of Smurfit Westrock Ltd (NYSE:SW) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,340 shares of the company’s stock, valued at approximately $511,000.

A number of other hedge funds have also modified their holdings of SW. XTX Topco Ltd acquired a new position in shares of Smurfit Westrock during the 3rd quarter worth about $314,000. Zurich Insurance Group Ltd FI bought a new stake in Smurfit Westrock during the third quarter worth about $65,536,000. National Bank of Canada FI acquired a new position in Smurfit Westrock during the third quarter valued at approximately $537,000. United Services Automobile Association bought a new position in Smurfit Westrock in the third quarter valued at approximately $535,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of Smurfit Westrock during the 3rd quarter worth approximately $2,535,000. 83.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Smurfit Westrock

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $54.84, for a total value of $1,371,000.00. Following the completion of the sale, the insider now owns 149,911 shares of the company’s stock, valued at approximately $8,221,119.24. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SW shares. JPMorgan Chase & Co. increased their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Argus began coverage on shares of Smurfit Westrock in a research note on Thursday. They issued a “buy” rating and a $62.00 target price for the company. Morgan Stanley boosted their price target on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a research report on Friday, November 15th. Finally, Citigroup started coverage on Smurfit Westrock in a report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Smurfit Westrock currently has an average rating of “Moderate Buy” and a consensus price target of $59.00.

Smurfit Westrock Trading Down 0.3 %

NYSE SW opened at $54.61 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 company has a market cap of $28.41 billion, a price-to-earnings ratio of 303.41 and a beta of 1.04. The company has a 50-day moving average of $50.13.

Smurfit Westrock Dividend Announcement

The firm 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 $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is 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.