Empowered Funds LLC Acquires New Shares in Smurfit Westrock Ltd (NYSE:SW)

Empowered Funds LLC acquired a new position in shares of Smurfit Westrock Ltd (NYSE:SW) in the third quarter, HoldingsChannel.com reports. The firm acquired 8,625 shares of the company’s stock, valued at approximately $426,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. bought a new position in shares of Smurfit Westrock during the third quarter worth about $62,832,000. Sumitomo Mitsui Trust Group Inc. acquired a new position in Smurfit Westrock during the 3rd quarter valued at about $51,430,000. Patten & Patten Inc. TN bought a new position in Smurfit Westrock in the 3rd quarter worth about $49,538,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Smurfit Westrock in the third quarter valued at approximately $39,627,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Smurfit Westrock during the third quarter valued at approximately $29,716,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SW has been the subject of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a report on Friday, November 15th. Wells Fargo & Company lowered their price target on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Jefferies Financial Group restated a “hold” rating and set a $52.00 price objective on shares of Smurfit Westrock in a research note on Monday, July 29th. Morgan Stanley increased their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Citigroup initiated coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price target on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Smurfit Westrock presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Smurfit Westrock Stock Up 0.5 %

NYSE:SW opened at $56.64 on Monday. 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 business’s 50-day moving average price is $48.72. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $56.99. The firm has a market capitalization of $29.46 billion, a price-to-earnings ratio of 314.68 and a beta of 1.04.

Smurfit Westrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be paid a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 annualized dividend and a dividend yield of 2.14%. Smurfit Westrock’s dividend payout ratio is currently 672.26%.

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.