Bank of New York Mellon Corp Has $351.60 Million Stock Position in Smurfit Westrock PLC $SW

Bank of New York Mellon Corp trimmed its position in Smurfit Westrock PLC (NYSE:SW) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,823,021 shares of the company’s stock after selling 231,008 shares during the quarter. Bank of New York Mellon Corp’s holdings in Smurfit Westrock were worth $351,597,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. MASTERINVEST Kapitalanlage GmbH acquired a new position in Smurfit Westrock during the first quarter valued at $1,073,000. Calamos Wealth Management LLC acquired a new stake in Smurfit Westrock during the 1st quarter worth about $224,000. Calamos Advisors LLC acquired a new stake in Smurfit Westrock during the 1st quarter worth about $224,000. AMG National Trust Bank grew its stake in Smurfit Westrock by 33.0% during the 1st quarter. AMG National Trust Bank now owns 12,794 shares of the company’s stock valued at $510,000 after acquiring an additional 3,171 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Smurfit Westrock by 4.1% during the 1st quarter. Principal Financial Group Inc. now owns 704,670 shares of the company’s stock valued at $28,081,000 after acquiring an additional 27,527 shares in the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Performance

Shares of SW stock opened at $44.39 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.44 and a quick ratio of 0.95. Smurfit Westrock PLC has a fifty-two week low of $32.73 and a fifty-two week high of $52.65. The stock’s 50-day moving average is $42.42 and its two-hundred day moving average is $42.40. The firm has a market cap of $23.28 billion, a P/E ratio of 61.66, a PEG ratio of 0.74 and a beta of 0.95.

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). The firm had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.57 billion. Smurfit Westrock had a net margin of 1.22% and a return on equity of 4.96%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Analysts predict that Smurfit Westrock PLC will post 2.24 earnings per share for the current fiscal year.

Smurfit Westrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $0.4523 per share. This represents a $1.81 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, May 15th. Smurfit Westrock’s dividend payout ratio (DPR) is presently 251.39%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on SW shares. Morgan Stanley reiterated an “overweight” rating and issued a $57.00 target price on shares of Smurfit Westrock in a report on Wednesday, May 6th. Wells Fargo & Company raised their price target on shares of Smurfit Westrock from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 9th. Truist Financial boosted their price objective on shares of Smurfit Westrock from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday. Zacks Research upgraded shares of Smurfit Westrock from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their target price on shares of Smurfit Westrock from $53.00 to $56.00 and gave the stock an “outperform” rating in a research report on Friday. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.83.

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.