Czech National Bank Makes New Investment in Smurfit Westrock Ltd (NYSE:SW)

Czech National Bank purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, Holdings Channel reports. The fund purchased 100,508 shares of the company’s stock, valued at approximately $4,967,000.

A number of other institutional investors have also recently modified their holdings of the business. AMF Tjanstepension AB purchased a new stake in Smurfit Westrock during the third quarter worth $8,519,000. SG Americas Securities LLC purchased a new stake in Smurfit Westrock in the 3rd quarter valued at approximately $843,000. Finally, Park Avenue Securities LLC acquired a new stake in Smurfit Westrock during the 3rd quarter valued at $561,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Performance

NYSE SW opened at $45.62 on Friday. The firm has a market cap of $23.69 billion, a P/E ratio of 50.13 and a beta of 1.05. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $50.60. The company’s 50-day moving average is $45.06.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.06). The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $7.91 billion. Smurfit Westrock had a return on equity of 7.13% and a net margin of 1.36%. On average, analysts expect that Smurfit Westrock Ltd will post 2.58 EPS for the current fiscal year.

Smurfit Westrock Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 15th were given a $0.3025 dividend. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, August 15th. Smurfit Westrock’s dividend payout ratio (DPR) is currently 132.97%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Morgan Stanley initiated coverage on Smurfit Westrock in a research report on Friday, July 19th. They issued an “overweight” rating and a $60.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $52.00 price objective on shares of Smurfit Westrock in a research report on Wednesday, July 31st. Wells Fargo & Company decreased their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $52.00 price target on shares of Smurfit Westrock in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.50.

Smurfit Westrock Company 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.