Bank of New York Mellon Corp Buys 193,099 Shares of Smurfit Westrock PLC $SW

Bank of New York Mellon Corp increased its stake in shares of Smurfit Westrock PLC (NYSE:SW) by 2.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,693,951 shares of the company’s stock after buying an additional 193,099 shares during the quarter. Bank of New York Mellon Corp’s holdings in Smurfit Westrock were worth $370,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SW. CYBER HORNET ETFs LLC bought a new stake in shares of Smurfit Westrock during the 2nd quarter valued at $29,000. Root Financial Partners LLC bought a new stake in Smurfit Westrock during the third quarter worth about $33,000. Rexford Capital Inc. bought a new stake in Smurfit Westrock during the second quarter worth about $35,000. Whipplewood Advisors LLC grew its stake in Smurfit Westrock by 50.0% during the second quarter. Whipplewood Advisors LLC now owns 1,026 shares of the company’s stock worth $44,000 after buying an additional 342 shares in the last quarter. Finally, Groupe la Francaise bought a new position in Smurfit Westrock in the 2nd quarter valued at about $51,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Smurfit Westrock in a report on Thursday, January 8th. Argus cut their target price on Smurfit Westrock from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, December 9th. Wells Fargo & Company reduced their target price on Smurfit Westrock from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, January 6th. Royal Bank Of Canada set a $51.00 price target on Smurfit Westrock in a report on Thursday, December 18th. Finally, Truist Financial reduced their price objective on Smurfit Westrock from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.60.

Smurfit Westrock Stock Down 0.7%

Shares of NYSE:SW opened at $42.13 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.97 and a current ratio of 1.48. Smurfit Westrock PLC has a 52-week low of $32.73 and a 52-week high of $55.54. The company has a market capitalization of $22.00 billion, a PE ratio of 29.46 and a beta of 1.09. The company has a fifty day moving average of $39.01 and a 200-day moving average of $41.41.

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

About Smurfit Westrock

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.