Retirement Systems of Alabama Takes $36.86 Million Position in Smurfit Westrock Ltd (NYSE:SW)

Retirement Systems of Alabama purchased a new position in Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 745,869 shares of the company’s stock, valued at approximately $36,861,000. Retirement Systems of Alabama owned about 0.14% of Smurfit Westrock at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Management Group Inc. bought a new stake in shares of Smurfit Westrock during the third quarter valued at approximately $9,405,000. Intech Investment Management LLC bought a new stake in Smurfit Westrock during the 3rd quarter valued at $597,000. Moors & Cabot Inc. bought a new stake in Smurfit Westrock during the 3rd quarter valued at $520,000. Citigroup Inc. acquired a new position in Smurfit Westrock during the 3rd quarter worth $77,207,000. Finally, Catalytic Wealth RIA LLC bought a new position in shares of Smurfit Westrock in the third quarter worth $520,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Smurfit Westrock Stock Up 0.5 %

Shares of NYSE SW opened at $53.73 on Friday. The stock has a fifty day moving average of $50.57. The firm has a market cap of $27.95 billion, a PE ratio of 298.47 and a beta of 1.04. 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 52-week low of $38.55 and a 52-week high of $56.99.

Smurfit Westrock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders 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 yield of 2.25%. The ex-dividend date is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is presently 672.22%.

Insiders Place Their Bets

In other news, insider Saverio Mayer sold 25,000 shares of Smurfit Westrock 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 owns 149,911 shares in the company, valued at approximately $8,221,119.24. The trade was a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SW. Wells Fargo & Company cut 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 note on Monday, October 7th. Citigroup began coverage on shares of Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target for the company. Argus initiated coverage on shares of Smurfit Westrock in a research note on Thursday, December 5th. They set a “buy” rating and a $62.00 price objective on the stock. Redburn Atlantic started coverage on Smurfit Westrock in a research note on Friday, August 23rd. They set a “buy” rating and a $60.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.00.

Smurfit Westrock 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.