Assenagon Asset Management S.A. Takes Position in Smurfit Westrock Ltd (NYSE:SW)

Assenagon Asset Management S.A. purchased a new stake in shares of Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, Holdings Channel reports. The fund purchased 17,607 shares of the company’s stock, valued at approximately $870,000.

Several other hedge funds have also recently modified their holdings of SW. Mather Group LLC. purchased a new position in Smurfit Westrock in the 3rd quarter worth about $25,000. CVA Family Office LLC bought a new position in Smurfit Westrock in the third quarter worth approximately $26,000. ORG Wealth Partners LLC bought a new position in Smurfit Westrock in the 3rd quarter worth $32,000. Waldron Private Wealth LLC bought a new position in shares of Smurfit Westrock in the third quarter worth about $35,000. Finally, Armstrong Advisory Group Inc. purchased a new position in Smurfit Westrock during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SW shares. Wells Fargo & Company lowered their price objective on 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. Royal Bank of Canada upgraded shares of Smurfit Westrock from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $52.00 to $58.00 in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Morgan Stanley initiated coverage on shares of Smurfit Westrock in a report on Friday, July 19th. They set an “overweight” rating and a $60.00 price target on the stock. Finally, Redburn Atlantic began coverage on Smurfit Westrock in a research report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.43.

Smurfit Westrock Stock Down 0.1 %

SW stock opened at $51.46 on Friday. The company has a quick ratio of 2.18, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $52.76. The firm has a market cap of $26.73 billion, a PE ratio of 285.89 and a beta of 1.04. The stock has a 50 day moving average of $46.53.

Smurfit Westrock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be issued a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 annualized dividend and a yield of 2.35%. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.22%.

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.