Nordea Investment Management AB Buys 305,974 Shares of Smurfit Westrock PLC $SW

Nordea Investment Management AB increased its stake in shares of Smurfit Westrock PLC (NYSE:SW) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,774,223 shares of the company’s stock after purchasing an additional 305,974 shares during the period. Nordea Investment Management AB owned approximately 1.11% of Smurfit Westrock worth $241,074,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SW. Vanguard Group Inc. boosted its holdings in Smurfit Westrock by 1.6% during the second quarter. Vanguard Group Inc. now owns 80,421,330 shares of the company’s stock worth $3,472,329,000 after buying an additional 1,233,997 shares during the last quarter. State Street Corp increased its stake in shares of Smurfit Westrock by 1.7% in the 2nd quarter. State Street Corp now owns 20,779,789 shares of the company’s stock valued at $896,661,000 after acquiring an additional 339,787 shares during the last quarter. Orbis Allan Gray Ltd raised its position in shares of Smurfit Westrock by 81.9% in the 2nd quarter. Orbis Allan Gray Ltd now owns 18,400,418 shares of the company’s stock valued at $793,978,000 after acquiring an additional 8,286,205 shares during the period. Norges Bank bought a new position in Smurfit Westrock during the 2nd quarter worth approximately $749,735,000. Finally, Bank of New York Mellon Corp boosted its stake in Smurfit Westrock by 19.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,500,852 shares of the company’s stock worth $366,812,000 after acquiring an additional 1,399,464 shares during the last quarter. Institutional investors own 83.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on SW shares. Wells Fargo & Company lowered their target price on shares of Smurfit Westrock from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, January 6th. JPMorgan Chase & Co. boosted their price target on shares of Smurfit Westrock from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Barclays dropped their price objective on Smurfit Westrock from $63.00 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Morgan Stanley reiterated an “overweight” rating on shares of Smurfit Westrock in a report on Thursday, January 8th. Finally, Truist Financial lowered their price target on Smurfit Westrock from $50.00 to $49.00 and set a “buy” rating for the company in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.60.

Smurfit Westrock Price Performance

Shares of NYSE SW opened at $42.68 on Wednesday. The company has a fifty day moving average price of $37.15 and a 200 day moving average price of $41.69. The firm has a market cap of $22.28 billion, a PE ratio of 29.84 and a beta of 1.09. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72. Smurfit Westrock PLC has a 1-year low of $32.73 and a 1-year high of $56.05.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.10). The firm had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.89 billion. Smurfit Westrock had a net margin of 2.40% and a return on equity of 6.21%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. Research analysts predict that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Friday, November 14th were paid a dividend of $0.4308 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, November 14th. Smurfit Westrock’s dividend payout ratio (DPR) is currently 120.28%.

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.