Manning & Napier Advisors LLC Acquires 14,093 Shares of Smurfit Westrock Ltd (NYSE:SW)

Manning & Napier Advisors LLC lifted its stake in Smurfit Westrock Ltd (NYSE:SW) by 14.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,767 shares of the company’s stock after purchasing an additional 14,093 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Smurfit Westrock were worth $5,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp purchased a new stake in shares of Smurfit Westrock during the third quarter valued at approximately $967,582,000. Geode Capital Management LLC bought a new position in Smurfit Westrock in the 3rd quarter valued at approximately $627,244,000. FMR LLC purchased a new stake in Smurfit Westrock during the 3rd quarter valued at $431,653,000. Mizuho Securities USA LLC bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth $386,712,000. Finally, Soros Fund Management LLC purchased a new position in shares of Smurfit Westrock in the third quarter worth $340,848,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Argus initiated coverage on Smurfit Westrock in a report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price objective for the company. Barclays lifted their price target on shares of Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. JPMorgan Chase & Co. increased their price objective on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research report on Friday, November 15th. Finally, Morgan Stanley increased their price target on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.70.

Smurfit Westrock Trading Down 1.4 %

Shares of SW stock opened at $53.58 on Thursday. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99. The firm has a fifty day moving average price of $53.99 and a 200-day moving average price of $49.16. The company has a market cap of $27.87 billion, a price-to-earnings ratio of 297.66 and a beta of 1.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.23). The company had revenue of $7.67 billion during the quarter, compared to analysts’ expectations of $8.04 billion. Smurfit Westrock had a positive return on equity of 5.98% and a negative net margin of 0.12%. During the same quarter in the previous year, the company earned $0.81 EPS. As a group, equities analysts predict that Smurfit Westrock Ltd will post 2.65 earnings per share for the current year.

Insider Buying and Selling

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the stock in a transaction 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 in the company, valued at approximately $8,221,119.24. This represents a 14.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.49% of the stock is currently owned by insiders.

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.