Envestnet Asset Management Inc. Sells 111,200 Shares of Smurfit Westrock PLC $SW

Envestnet Asset Management Inc. lessened its stake in Smurfit Westrock PLC (NYSE:SW) by 21.4% in the second quarter, HoldingsChannel reports. The fund owned 407,489 shares of the company’s stock after selling 111,200 shares during the period. Envestnet Asset Management Inc.’s holdings in Smurfit Westrock were worth $17,583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SW. Teacher Retirement System of Texas lifted its position in Smurfit Westrock by 1,462.4% in the first quarter. Teacher Retirement System of Texas now owns 76,043 shares of the company’s stock valued at $3,426,000 after purchasing an additional 71,176 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Smurfit Westrock by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 589,825 shares of the company’s stock valued at $26,578,000 after buying an additional 2,355 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Smurfit Westrock by 73.2% during the first quarter. Nisa Investment Advisors LLC now owns 8,354 shares of the company’s stock valued at $376,000 after acquiring an additional 3,530 shares during the last quarter. Allworth Financial LP raised its stake in shares of Smurfit Westrock by 35.6% during the first quarter. Allworth Financial LP now owns 2,205 shares of the company’s stock valued at $94,000 after acquiring an additional 579 shares during the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Smurfit Westrock by 6.9% during the first quarter. Cerity Partners LLC now owns 28,519 shares of the company’s stock valued at $1,285,000 after acquiring an additional 1,845 shares during the last quarter. Institutional investors own 83.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SW. Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 price target on shares of Smurfit Westrock in a research report on Monday. Truist Financial decreased their target price on Smurfit Westrock from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 30th. UBS Group initiated coverage on shares of Smurfit Westrock in a report on Monday, September 15th. They issued a “buy” rating and a $60.00 price objective for the company. Royal Bank Of Canada decreased their price objective on shares of Smurfit Westrock from $55.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Finally, Seaport Res Ptn upgraded shares of Smurfit Westrock from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $56.90.

Smurfit Westrock Stock Down 0.7%

SW stock opened at $36.04 on Thursday. Smurfit Westrock PLC has a twelve month low of $35.21 and a twelve month high of $56.99. The company has a quick ratio of 0.95, a current ratio of 1.48 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average of $42.78 and a 200 day moving average of $43.73. The firm has a market cap of $18.82 billion, a PE ratio of 25.20 and a beta of 1.09.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.10). Smurfit Westrock had a net margin of 2.40% and a return on equity of 6.21%. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.89 billion. The business’s revenue was up 4.3% compared to the same quarter last year. On average, research analysts forecast that Smurfit Westrock PLC will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Friday, November 14th. Smurfit Westrock’s dividend payout ratio (DPR) is currently 120.28%.

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.