Bank of New York Mellon Corp Purchases 360,078 Shares of Smurfit Westrock PLC $SW

Bank of New York Mellon Corp boosted its position in Smurfit Westrock PLC (NYSE:SW) by 4.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,054,029 shares of the company’s stock after acquiring an additional 360,078 shares during the quarter. Bank of New York Mellon Corp’s holdings in Smurfit Westrock were worth $350,119,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. International Private Wealth Advisors LLC increased its stake in Smurfit Westrock by 3.5% in the fourth quarter. International Private Wealth Advisors LLC now owns 7,152 shares of the company’s stock valued at $277,000 after acquiring an additional 245 shares during the last quarter. Benjamin Edwards Inc. grew its stake in shares of Smurfit Westrock by 4.1% during the second quarter. Benjamin Edwards Inc. now owns 6,776 shares of the company’s stock worth $292,000 after buying an additional 264 shares during the last quarter. AXA S.A. grew its stake in shares of Smurfit Westrock by 1.3% during the second quarter. AXA S.A. now owns 22,283 shares of the company’s stock worth $962,000 after buying an additional 285 shares during the last quarter. Mariner LLC grew its stake in shares of Smurfit Westrock by 0.9% during the third quarter. Mariner LLC now owns 31,906 shares of the company’s stock worth $1,358,000 after buying an additional 294 shares during the last quarter. Finally, Creative Planning grew its stake in shares of Smurfit Westrock by 5.0% during the third quarter. Creative Planning now owns 7,082 shares of the company’s stock worth $301,000 after buying an additional 338 shares during the last quarter. 83.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on SW shares. UBS Group reduced their price objective on shares of Smurfit Westrock from $60.00 to $56.00 and set a “buy” rating on the stock in a research note on Monday, April 13th. The Goldman Sachs Group started coverage on Smurfit Westrock in a research report on Tuesday, March 24th. They set a “buy” rating and a $49.00 target price for the company. Wells Fargo & Company lowered their target price on Smurfit Westrock from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 20th. Wall Street Zen lowered Smurfit Westrock from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Royal Bank Of Canada cut their price target on shares of Smurfit Westrock from $54.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Smurfit Westrock currently has an average rating of “Moderate Buy” and an average price target of $53.00.

Smurfit Westrock Trading Up 0.5%

SW opened at $42.34 on Friday. Smurfit Westrock PLC has a fifty-two week low of $32.73 and a fifty-two week high of $52.65. The company’s 50-day moving average is $40.27 and its 200 day moving average is $40.72. The firm has a market capitalization of $22.21 billion, a PE ratio of 58.81 and a beta of 0.96. 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 (NYSE:SW) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.57 billion. Smurfit Westrock had a return on equity of 4.96% and a net margin of 1.22%.The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.74 earnings per share. As a group, research analysts predict that Smurfit Westrock PLC will post 2.32 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors 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 yield of 4.3%. Smurfit Westrock’s dividend payout ratio (DPR) is 251.39%.

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.