Saudi Central Bank Purchases 17,424 Shares of Smurfit Westrock PLC $SW

Saudi Central Bank increased its position in shares of Smurfit Westrock PLC (NYSE:SW) by 90.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,698 shares of the company’s stock after buying an additional 17,424 shares during the quarter. Saudi Central Bank’s holdings in Smurfit Westrock were worth $1,698,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SW. Raiffeisen Bank International AG boosted its position in Smurfit Westrock by 2,920.2% during the 2nd quarter. Raiffeisen Bank International AG now owns 18,272 shares of the company’s stock worth $844,000 after acquiring an additional 17,667 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Smurfit Westrock by 0.3% in the second quarter. Concurrent Investment Advisors LLC now owns 140,975 shares of the company’s stock valued at $6,522,000 after purchasing an additional 416 shares during the last quarter. NEOS Investment Management LLC lifted its position in shares of Smurfit Westrock by 13.3% in the second quarter. NEOS Investment Management LLC now owns 84,668 shares of the company’s stock worth $3,917,000 after purchasing an additional 9,921 shares in the last quarter. Continuum Advisory LLC bought a new position in shares of Smurfit Westrock in the second quarter valued at $172,000. Finally, Maple Rock Capital Partners Inc. bought a new position in shares of Smurfit Westrock in the second quarter valued at $120,660,000. Institutional investors own 83.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SW. Morgan Stanley upped their price target on shares of Smurfit Westrock from $57.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, August 27th. Weiss Ratings upgraded shares of Smurfit Westrock from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, August 24th. Seaport Research Partners reaffirmed a “buy” rating and issued a $54.00 target price on shares of Smurfit Westrock in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of Smurfit Westrock in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $57.00 target price for the company. Finally, Loop Capital set a $71.00 price target on Smurfit Westrock in a report on Tuesday, July 28th. Eleven investment 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 company presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.69.

Smurfit Westrock Price Performance

NYSE:SW opened at $44.27 on Wednesday. Smurfit Westrock PLC has a one year low of $32.73 and a one year high of $52.65. The company has a market cap of $23.22 billion, a P/E ratio of 47.10, a P/E/G ratio of 1.47 and a beta of 0.95. The firm’s fifty day moving average price is $46.66 and its two-hundred day moving average price is $43.44. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 0.96.

Smurfit Westrock (NYSE:SW) last posted its earnings results on Wednesday, July 29th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). Smurfit Westrock had a return on equity of 4.60% and a net margin of 1.59%.The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the business posted ($0.05) EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts expect that Smurfit Westrock PLC will post 1.98 earnings per share for the current year.

Smurfit Westrock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be issued a dividend of $0.4523 per share. This represents a $1.81 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, August 14th. Smurfit Westrock’s payout ratio is currently 191.49%.

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.