Smurfit Westrock (NYSE:SW) Hits New 12-Month High – Should You Buy?

Smurfit Westrock Ltd (NYSE:SW) shares reached a new 52-week high on Wednesday . The company traded as high as $54.32 and last traded at $53.22, with a volume of 67216 shares changing hands. The stock had previously closed at $51.82.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SW shares. Redburn Atlantic started coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They set a “buy” rating and a $60.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. 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 target for the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $52.00 price objective on shares of Smurfit Westrock in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.43.

Smurfit Westrock Stock Up 2.7 %

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 firm has a 50-day moving average of $46.74. The company has a market cap of $27.64 billion, a P/E ratio of 287.90 and a beta of 1.04.

Smurfit Westrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is currently 672.26%.

Institutional Trading of Smurfit Westrock

A number of institutional investors have recently made changes to their positions in the stock. Vontobel Holding Ltd. purchased a new position in shares of Smurfit Westrock during the third quarter valued at about $62,832,000. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Smurfit Westrock in the third quarter worth approximately $51,430,000. Patten & Patten Inc. TN bought a new position in Smurfit Westrock during the third quarter valued at approximately $49,538,000. Compagnie Lombard Odier SCmA bought a new position in Smurfit Westrock during the third quarter valued at approximately $39,627,000. Finally, Principal Financial Group Inc. bought a new position in Smurfit Westrock during the third quarter valued at approximately $29,716,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

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.