Smurfit Westrock PLC $SW Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of Smurfit Westrock PLC (NYSE:SW) by 64.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,301 shares of the company’s stock after purchasing an additional 52,418 shares during the quarter. CIBC Asset Management Inc’s holdings in Smurfit Westrock were worth $5,155,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Smurfit Westrock by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 9,054,029 shares of the company’s stock valued at $350,119,000 after buying an additional 360,078 shares in the last quarter. AXQ Capital LP purchased a new position in shares of Smurfit Westrock during the 4th quarter valued at approximately $470,000. New Mexico Educational Retirement Board lifted its position in shares of Smurfit Westrock by 7.1% during the 4th quarter. New Mexico Educational Retirement Board now owns 23,985 shares of the company’s stock valued at $927,000 after buying an additional 1,600 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its position in shares of Smurfit Westrock by 4.3% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,554,035 shares of the company’s stock valued at $98,765,000 after buying an additional 104,219 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Smurfit Westrock by 7.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 185,336 shares of the company’s stock valued at $7,167,000 after buying an additional 12,522 shares in the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SW shares. Weiss Ratings restated a “hold (c)” rating on shares of Smurfit Westrock in a report on Friday, May 29th. Wells Fargo & Company decreased their price objective on Smurfit Westrock from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 20th. Morgan Stanley restated an “overweight” rating and issued a $57.00 price objective on shares of Smurfit Westrock in a report on Wednesday, May 6th. Wall Street Zen lowered Smurfit Westrock from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Zacks Research upgraded Smurfit Westrock from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $53.00.

Smurfit Westrock Stock Down 2.2%

Shares of NYSE:SW opened at $41.34 on Friday. The business has a 50-day moving average price of $40.28 and a 200 day moving average price of $40.73. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $21.68 billion, a price-to-earnings ratio of 57.42 and a beta of 0.96. Smurfit Westrock PLC has a 12-month low of $32.73 and a 12-month high of $52.65.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.57 billion. Smurfit Westrock had a return on equity of 4.96% and a net margin of 1.22%.The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.74 earnings per share. Sell-side analysts expect that Smurfit Westrock PLC will post 2.32 EPS for the current year.

Smurfit Westrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be given a $0.4523 dividend. This represents a $1.81 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, May 15th. Smurfit Westrock’s payout ratio is currently 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.