M&G Plc Acquires New Shares in Smurfit Westrock Ltd (NYSE:SW)

M&G Plc bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 188,841 shares of the company’s stock, valued at approximately $9,253,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mather Group LLC. bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at about $25,000. CVA Family Office LLC bought a new position in Smurfit Westrock in the third quarter valued at approximately $26,000. ORG Wealth Partners LLC acquired a new position in shares of Smurfit Westrock in the third quarter valued at approximately $32,000. Waldron Private Wealth LLC bought a new stake in shares of Smurfit Westrock during the third quarter worth $35,000. Finally, Cromwell Holdings LLC acquired a new stake in shares of Smurfit Westrock during the third quarter worth $42,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Smurfit Westrock Trading Up 0.5 %

NYSE SW opened at $53.45 on Friday. The company has a market capitalization of $27.76 billion, a price-to-earnings ratio of 296.94 and a beta of 1.04. 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 stock’s fifty day moving average price is $46.99. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $54.32.

Smurfit Westrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be paid a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 annualized dividend and a yield of 2.26%. Smurfit Westrock’s dividend payout ratio (DPR) is currently 672.22%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SW. Wells Fargo & Company reduced their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Citigroup began coverage on Smurfit Westrock in a report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price objective for the company. Royal Bank of Canada upgraded Smurfit Westrock from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $52.00 to $58.00 in a research note on Thursday, October 31st. Jefferies Financial Group reaffirmed a “hold” rating and set a $52.00 price target on shares of Smurfit Westrock in a research note on Monday, July 29th. Finally, Redburn Atlantic initiated coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price objective on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company 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.