ING Groep NV Purchases New Holdings in Smurfit Westrock Ltd (NYSE:SW)

ING Groep NV acquired a new position in shares of Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 65,986 shares of the company’s stock, valued at approximately $3,261,000.

Other hedge funds have also made changes to their positions in the company. Mather Group LLC. purchased a new stake in shares of Smurfit Westrock during the third quarter worth approximately $25,000. CVA Family Office LLC acquired a new stake in Smurfit Westrock during the 3rd quarter worth $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Smurfit Westrock during the third quarter worth $32,000. Waldron Private Wealth LLC acquired a new stake in shares of Smurfit Westrock in the third quarter valued at about $35,000. Finally, Cromwell Holdings LLC purchased a new position in shares of Smurfit Westrock in the third quarter worth about $42,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SW. Jefferies Financial Group reiterated a “hold” rating and issued a $52.00 price objective on shares of Smurfit Westrock in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price objective on shares of Smurfit Westrock in a research note on Friday. Morgan Stanley raised their target price on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Citigroup began coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Smurfit Westrock presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Smurfit Westrock Stock Up 3.2 %

Shares of Smurfit Westrock stock opened at $51.66 on Friday. The company has a fifty day simple moving average of $47.63. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The firm has a market cap of $26.87 billion, a price-to-earnings ratio of 287.02 and a beta of 1.04. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $54.32.

Smurfit Westrock Announces Dividend

The business also recently announced 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 2.34%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.26%.

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.