Smurfit Westrock PLC $SW Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System increased its holdings in shares of Smurfit Westrock PLC (NYSE:SW) by 9.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,796 shares of the company’s stock after buying an additional 29,278 shares during the period. New York State Teachers Retirement System’s holdings in Smurfit Westrock were worth $14,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in SW. Sound Income Strategies LLC boosted its stake in Smurfit Westrock by 79,790.6% during the fourth quarter. Sound Income Strategies LLC now owns 127,825 shares of the company’s stock worth $5,459,000 after buying an additional 127,665 shares during the last quarter. BIP Wealth LLC purchased a new stake in shares of Smurfit Westrock in the fourth quarter valued at about $2,412,000. Capital International Investors purchased a new stake in shares of Smurfit Westrock in the third quarter valued at about $16,540,000. Distillate Capital Partners LLC acquired a new stake in Smurfit Westrock during the third quarter worth about $15,001,000. Finally, AE Wealth Management LLC raised its stake in Smurfit Westrock by 9.1% during the fourth quarter. AE Wealth Management LLC now owns 369,652 shares of the company’s stock worth $14,294,000 after purchasing an additional 30,804 shares during the period. Institutional investors and hedge funds own 83.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SW. Morgan Stanley reissued an “overweight” rating and issued a $57.00 price target on shares of Smurfit Westrock in a research note on Wednesday, May 6th. Barclays decreased their price objective on Smurfit Westrock from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Thursday, May 21st. JPMorgan Chase & Co. cut their target price on Smurfit Westrock from $64.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. UBS Group reduced their target price on Smurfit Westrock from $60.00 to $56.00 and set a “buy” rating on the stock in a research report on Monday, April 13th. Finally, Truist Financial set a $50.00 price target on Smurfit Westrock in a research note on Friday, May 1st. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $53.33.

Smurfit Westrock Stock Performance

NYSE:SW opened at $45.89 on Monday. Smurfit Westrock PLC has a fifty-two week low of $32.73 and a fifty-two week high of $52.65. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.44. The company has a 50 day moving average price of $41.72 and a 200 day moving average price of $42.02. The stock has a market capitalization of $24.07 billion, a P/E ratio of 63.74, a PEG ratio of 0.92 and a beta of 0.95.

Smurfit Westrock (NYSE:SW) last announced its earnings results on Thursday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Smurfit Westrock had a net margin of 1.22% and a return on equity of 4.96%. The firm had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.57 billion. During the same period in the previous year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Equities research analysts forecast that Smurfit Westrock PLC will post 2.31 EPS for the current year.

Smurfit Westrock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a dividend of $0.4523 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.81 annualized dividend and a yield of 3.9%. Smurfit Westrock’s dividend payout ratio is presently 251.39%.

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.