Van ECK Associates Corp Takes Position in Smurfit Westrock Ltd (NYSE:SW)

Van ECK Associates Corp acquired a new position in Smurfit Westrock Ltd (NYSE:SW) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,974 shares of the company’s stock, valued at approximately $279,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in shares of Smurfit Westrock in the third quarter worth $25,000. CVA Family Office LLC acquired a new stake in Smurfit Westrock during the 3rd quarter worth about $26,000. ORG Wealth Partners LLC purchased a new position in Smurfit Westrock during the 3rd quarter valued at about $32,000. Waldron Private Wealth LLC acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at about $35,000. Finally, Cromwell Holdings LLC purchased a new stake in shares of Smurfit Westrock in the third quarter worth approximately $42,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Performance

Shares of NYSE SW opened at $50.67 on Wednesday. The firm’s 50-day moving average is $47.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $54.32. The firm has a market cap of $26.32 billion, a price-to-earnings ratio of 290.61 and a beta of 1.04.

Smurfit Westrock Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be given a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is 672.22%.

Analyst Ratings Changes

A number of brokerages recently commented on SW. Wells Fargo & Company lowered their price objective 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. Morgan Stanley assumed coverage on shares of Smurfit Westrock in a research note on Friday, July 19th. They issued an “overweight” rating and a $60.00 price target on the stock. Jefferies Financial Group reissued a “hold” rating and set a $52.00 price objective on shares of Smurfit Westrock in a research report on Monday, July 29th. JPMorgan Chase & Co. dropped their target price on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, Citigroup assumed coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $57.43.

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.