Oppenheimer Asset Management Inc. Lowers Position in Smurfit Westrock Ltd (NYSE:SW)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Smurfit Westrock Ltd (NYSE:SW) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 166,491 shares of the company’s stock after selling 1,068 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Smurfit Westrock were worth $8,967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SW. State Street Corp acquired a new stake in shares of Smurfit Westrock during the third quarter valued at about $967,582,000. Geode Capital Management LLC purchased a new position in shares of Smurfit Westrock during the 3rd quarter worth approximately $627,244,000. FMR LLC acquired a new stake in Smurfit Westrock in the 3rd quarter valued at approximately $431,653,000. Mizuho Securities USA LLC purchased a new stake in Smurfit Westrock in the third quarter valued at approximately $386,712,000. Finally, Soros Fund Management LLC acquired a new position in Smurfit Westrock during the third quarter worth $340,848,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of Smurfit Westrock stock in a transaction dated 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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alvaro Henao sold 4,000 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $53.90, for a total value of $215,600.00. Following the completion of the sale, the insider now directly owns 44,361 shares of the company’s stock, valued at $2,391,057.90. The trade was a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,225 shares of company stock valued at $2,920,429 over the last three months. 0.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Argus initiated coverage on Smurfit Westrock in a research note on Thursday, December 5th. They issued a “buy” rating and a $62.00 price objective for the company. Truist Financial assumed coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They set a “buy” rating and a $62.00 price target on the stock. Morgan Stanley increased their price target 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. Royal Bank of Canada restated an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.70.

Smurfit Westrock Trading Down 3.3 %

Shares of NYSE:SW opened at $51.77 on Friday. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99. The company’s 50 day moving average is $53.61 and its two-hundred day moving average is $50.40. The company has a market cap of $26.95 billion, a PE ratio of 94.13 and a beta of 1.02. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72.

Smurfit Westrock (NYSE:SW) last posted its earnings results on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. Equities analysts predict that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 14th will be paid a dividend of $0.4308 per share. This is a boost from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 14th. This represents a $1.72 annualized dividend and a yield of 3.33%. Smurfit Westrock’s payout ratio is presently 312.73%.

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.