OLD National Bancorp IN Takes $270,000 Position in Smurfit Westrock Ltd (NYSE:SW)

OLD National Bancorp IN bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 5,468 shares of the company’s stock, valued at approximately $270,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mather Group LLC. purchased a new position in Smurfit Westrock in the 3rd quarter valued at approximately $25,000. CVA Family Office LLC purchased a new position in Smurfit Westrock in the third quarter valued at $26,000. ORG Wealth Partners LLC acquired a new position in Smurfit Westrock during the 3rd quarter worth $32,000. Armstrong Advisory Group Inc. purchased a new stake in Smurfit Westrock during the 3rd quarter worth about $45,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Smurfit Westrock in the 3rd quarter valued at about $83,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Smurfit Westrock Price Performance

NYSE SW opened at $46.67 on Thursday. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $50.60. The stock has a market cap of $11.99 billion, a P/E ratio of 39.21 and a beta of 1.05. The firm has a fifty day moving average of $45.94.

Smurfit Westrock (NYSE:SW) last posted its earnings results on Tuesday, July 30th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.06). The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $7.91 billion. Smurfit Westrock had a net margin of 1.36% and a return on equity of 7.13%. As a group, equities analysts expect that Smurfit Westrock Ltd will post 2.6 earnings per share for the current year.

Smurfit Westrock Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 15th were given a $0.3025 dividend. The ex-dividend date was Thursday, August 15th. This represents a yield of 2.5%. Smurfit Westrock’s dividend payout ratio (DPR) is 101.68%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SW shares. Morgan Stanley assumed coverage on Smurfit Westrock in a research report on Friday, July 19th. They set an “overweight” rating and a $60.00 price objective for the company. Jefferies Financial Group reiterated a “hold” rating and set a $52.00 price target on shares of Smurfit Westrock in a report on Monday, July 29th. Redburn Atlantic assumed coverage on shares of Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $52.00 price target on shares of Smurfit Westrock in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $56.57.

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.