Patten & Patten Inc. TN Sells 170,455 Shares of Smurfit Westrock PLC $SW

Patten & Patten Inc. TN decreased its holdings in shares of Smurfit Westrock PLC (NYSE:SW) by 18.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 775,730 shares of the company’s stock after selling 170,455 shares during the quarter. Smurfit Westrock makes up approximately 1.8% of Patten & Patten Inc. TN’s holdings, making the stock its 10th largest holding. Patten & Patten Inc. TN’s holdings in Smurfit Westrock were worth $29,997,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SW. TD Waterhouse Canada Inc. raised its position in shares of Smurfit Westrock by 113.3% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 640 shares of the company’s stock valued at $27,000 after acquiring an additional 340 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Smurfit Westrock during the 2nd quarter valued at $29,000. Root Financial Partners LLC bought a new stake in shares of Smurfit Westrock during the 3rd quarter valued at $33,000. MUFG Securities EMEA plc bought a new stake in shares of Smurfit Westrock during the 2nd quarter valued at $63,000. Finally, Bessemer Group Inc. raised its position in shares of Smurfit Westrock by 105.2% during the 3rd quarter. Bessemer Group Inc. now owns 1,588 shares of the company’s stock valued at $68,000 after acquiring an additional 814 shares during the last quarter. Institutional investors own 83.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of Smurfit Westrock from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 20th. Jefferies Financial Group set a $58.00 price objective on shares of Smurfit Westrock in a research note on Thursday, February 12th. Truist Financial set a $50.00 price objective on shares of Smurfit Westrock in a report on Friday, May 1st. Barclays decreased their price objective on shares of Smurfit Westrock from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Finally, The Goldman Sachs Group began coverage on shares of Smurfit Westrock in a report on Tuesday, March 24th. They set a “buy” rating and a $49.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.18.

Smurfit Westrock Price Performance

Shares of SW stock opened at $41.66 on Friday. Smurfit Westrock PLC has a 12-month low of $32.73 and a 12-month high of $52.65. The firm has a market capitalization of $21.84 billion, a price-to-earnings ratio of 57.86 and a beta of 0.95. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average of $41.19 and a 200-day moving average of $40.53.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $7.57 billion. During the same period last year, the firm earned $0.74 EPS. Smurfit Westrock’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts forecast that Smurfit Westrock PLC will post 2.32 earnings per share for the current year.

Smurfit Westrock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $0.4523 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.81 annualized dividend and a dividend yield of 4.3%. Smurfit Westrock’s payout ratio is 251.39%.

Insider Buying and Selling at Smurfit Westrock

In other news, CEO Anthony P. J. Smurfit sold 40,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $51.54, for a total value of $2,061,600.00. Following the completion of the transaction, the chief executive officer owned 1,642,610 shares of the company’s stock, valued at $84,660,119.40. The trade was a 2.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ken Bowles sold 10,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $51.26, for a total transaction of $512,600.00. Following the completion of the transaction, the chief financial officer directly owned 151,644 shares of the company’s stock, valued at $7,773,271.44. This trade represents a 6.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.46% of the stock is owned by insiders.

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.