Old North State Wealth Management LLC Takes Position in Smurfit Westrock Ltd (NYSE:SW)

Old North State Wealth Management LLC acquired a new stake in Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 76,651 shares of the company’s stock, valued at approximately $3,790,000. Smurfit Westrock makes up about 2.1% of Old North State Wealth Management LLC’s portfolio, making the stock its 13th largest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in Smurfit Westrock in the third quarter valued at $25,000. CVA Family Office LLC acquired a new stake in Smurfit Westrock in the third quarter valued at $26,000. ORG Wealth Partners LLC acquired a new stake in Smurfit Westrock in the third quarter valued at $32,000. Waldron Private Wealth LLC acquired a new stake in Smurfit Westrock in the third quarter valued at $35,000. Finally, Cromwell Holdings LLC acquired a new stake in Smurfit Westrock in the third quarter valued at $42,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Stock Down 0.1 %

SW opened at $51.46 on Monday. The firm’s 50 day moving average is $46.53. The company has a current ratio of 1.48, a quick ratio of 2.18 and a debt-to-equity ratio of 0.73. The stock has a market cap of $26.73 billion, a P/E ratio of 285.89 and a beta of 1.04. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $52.76.

Smurfit Westrock Dividend Announcement

The business 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 annualized dividend and a yield of 2.35%. The ex-dividend date is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is presently 672.22%.

Analysts Set New Price Targets

A number of analysts have weighed in on SW shares. Redburn Atlantic initiated coverage on Smurfit Westrock in a research note on Friday, August 23rd. They issued a “buy” rating and a $60.00 price target on the stock. 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. Wells Fargo & Company dropped their price objective on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Royal Bank of Canada raised Smurfit Westrock from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $52.00 to $58.00 in a report on Thursday. Finally, Morgan Stanley initiated coverage on Smurfit Westrock in a report on Friday, July 19th. They set an “overweight” rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.43.

Smurfit Westrock Company 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.