Oppenheimer Asset Management Inc. Purchases 77,077 Shares of Smurfit Westrock PLC $SW

Oppenheimer Asset Management Inc. lifted its position in shares of Smurfit Westrock PLC (NYSE:SW) by 145.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,075 shares of the company’s stock after purchasing an additional 77,077 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Smurfit Westrock were worth $5,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TD Waterhouse Canada Inc. raised its stake in Smurfit Westrock by 113.3% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 640 shares of the company’s stock worth $27,000 after buying an additional 340 shares during the period. CYBER HORNET ETFs LLC acquired a new position in Smurfit Westrock in the second quarter valued at about $29,000. Root Financial Partners LLC acquired a new position in Smurfit Westrock in the third quarter valued at about $33,000. Rexford Capital Inc. bought a new stake in shares of Smurfit Westrock in the second quarter worth about $35,000. Finally, Whipplewood Advisors LLC raised its position in shares of Smurfit Westrock by 50.0% during the second quarter. Whipplewood Advisors LLC now owns 1,026 shares of the company’s stock worth $44,000 after purchasing an additional 342 shares during the period. Institutional investors and hedge funds own 83.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SW. Citigroup decreased their price objective on Smurfit Westrock from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Wells Fargo & Company cut their price target on shares of Smurfit Westrock from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 6th. Morgan Stanley reiterated an “overweight” rating on shares of Smurfit Westrock in a report on Thursday, January 8th. Truist Financial lowered their price objective on shares of Smurfit Westrock from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Finally, Zacks Research raised shares of Smurfit Westrock from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.60.

Smurfit Westrock Stock Performance

Shares of NYSE SW opened at $45.47 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 1.48. The stock has a 50 day moving average price of $40.33 and a 200 day moving average price of $41.15. The stock has a market capitalization of $23.75 billion, a PE ratio of 31.80 and a beta of 1.09. Smurfit Westrock PLC has a 52 week low of $32.73 and a 52 week high of $55.49.

Smurfit Westrock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, February 17th will be issued a dividend of $0.4523 per share. The ex-dividend date is Tuesday, February 17th. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.43. This represents a $1.81 dividend on an annualized basis and a yield of 4.0%. Smurfit Westrock’s dividend payout ratio is presently 120.28%.

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.