Commerce Bank Takes $267,000 Position in Smurfit Westrock Ltd (NYSE:SW)

Commerce Bank purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,410 shares of the company’s stock, valued at approximately $267,000.

Other large investors have also modified their holdings of the company. Mizuho Securities USA LLC purchased a new position in shares of Smurfit Westrock in the 3rd quarter worth approximately $386,712,000. Swiss National Bank purchased a new position in shares of Smurfit Westrock in the 3rd quarter worth approximately $76,082,000. Vontobel Holding Ltd. purchased a new position in shares of Smurfit Westrock in the 3rd quarter worth approximately $62,832,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Smurfit Westrock in the 3rd quarter worth approximately $51,430,000. Finally, Patten & Patten Inc. TN purchased a new position in shares of Smurfit Westrock in the 3rd quarter worth approximately $49,538,000. Institutional investors own 83.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SW. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a research report on Friday, November 15th. JPMorgan Chase & Co. dropped their target price on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Redburn Atlantic began coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They set a “buy” rating and a $60.00 target price on the stock. Citigroup began coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 target price on the stock. Finally, Morgan Stanley boosted their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Smurfit Westrock Price Performance

SW stock opened at $54.76 on Thursday. The company has a fifty day simple moving average of $49.21. The stock has a market cap of $28.48 billion, a P/E ratio of 304.24 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $56.99.

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 issued a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) 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.