Amalgamated Bank Purchases New Position in Smurfit Westrock Ltd (NYSE:SW)

Amalgamated Bank purchased a new stake in shares of Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 98,218 shares of the company’s stock, valued at approximately $4,854,000.

Several other institutional investors have also added to or reduced their stakes in SW. AMF Tjanstepension AB bought a new position in Smurfit Westrock during the third quarter valued at $8,519,000. Czech National Bank purchased a new position in Smurfit Westrock in the third quarter worth about $4,967,000. SG Americas Securities LLC purchased a new position in Smurfit Westrock in the third quarter worth about $843,000. Park Avenue Securities LLC bought a new stake in Smurfit Westrock during the third quarter worth approximately $561,000. Finally, GAMMA Investing LLC purchased a new stake in Smurfit Westrock during the third quarter valued at approximately $249,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Trading Up 0.5 %

NYSE SW opened at $53.45 on Friday. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $54.32. The business has a 50-day moving average of $46.99. The company has a market capitalization of $27.76 billion, a PE ratio of 296.94 and a beta of 1.04. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be given a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.22%.

Wall Street Analysts Forecast Growth

SW has been the subject of a number of recent research reports. Royal Bank of Canada upgraded Smurfit Westrock from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $58.00 in a report on Thursday, October 31st. Wells Fargo & Company dropped their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Morgan Stanley started coverage on shares of Smurfit Westrock in a research note on Friday, July 19th. They issued an “overweight” rating and a $60.00 target price on the stock. Jefferies Financial Group restated a “hold” rating and issued a $52.00 target price on shares of Smurfit Westrock in a report on Monday, July 29th. Finally, Citigroup initiated coverage on shares of Smurfit Westrock in a report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.43.

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.