CIBC Asset Management Inc Invests $3.59 Million in Smurfit Westrock Ltd (NYSE:SW)

CIBC Asset Management Inc purchased a new stake in shares of Smurfit Westrock Ltd (NYSE:SW) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 72,654 shares of the company’s stock, valued at approximately $3,591,000.

Other institutional investors also recently modified their holdings of the company. Sycomore Asset Management purchased a new stake in shares of Smurfit Westrock during the 3rd quarter valued at about $27,249,000. ING Groep NV purchased a new stake in Smurfit Westrock in the third quarter worth approximately $3,261,000. Tokio Marine Asset Management Co. Ltd. bought a new stake in Smurfit Westrock in the 3rd quarter worth approximately $797,000. Metis Global Partners LLC purchased a new stake in Smurfit Westrock during the 3rd quarter valued at $2,309,000. Finally, KBC Group NV bought a new position in shares of Smurfit Westrock during the 3rd quarter valued at $9,723,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Performance

SW stock opened at $53.45 on Tuesday. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $54.32. The stock has a market capitalization of $27.80 billion, a price-to-earnings ratio of 296.96 and a beta of 1.04. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average price is $47.63.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.26%.

Analysts Set New Price Targets

A number of analysts recently commented on SW shares. Royal Bank of Canada reiterated an “outperform” rating and set a $58.00 price objective on shares of Smurfit Westrock in a research report on Friday. Morgan Stanley lifted their target price on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $52.00 price objective on shares of Smurfit Westrock in a report on Monday, July 29th. JPMorgan Chase & Co. lowered their price target on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Citigroup assumed coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price target for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Smurfit Westrock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

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.