Wealth Enhancement Advisory Services LLC Acquires Shares of 92,302 Smurfit Westrock Ltd (NYSE:SW)

Wealth Enhancement Advisory Services LLC bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 92,302 shares of the company’s stock, valued at approximately $4,562,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB acquired a new position in Smurfit Westrock in the 3rd quarter worth $8,519,000. Czech National Bank purchased a new position in Smurfit Westrock in the third quarter valued at about $4,967,000. SG Americas Securities LLC acquired a new stake in Smurfit Westrock during the 3rd quarter valued at approximately $843,000. Park Avenue Securities LLC acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $561,000. Finally, GAMMA Investing LLC purchased a new position in shares of Smurfit Westrock during the 3rd quarter valued at approximately $249,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on SW. Citigroup started coverage on shares of Smurfit Westrock in a research note on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price objective on the stock. Morgan Stanley assumed coverage on shares of Smurfit Westrock in a research report on Friday, July 19th. They set an “overweight” rating and a $60.00 price target on the stock. Wells Fargo & Company lowered their price target on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Redburn Atlantic assumed coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective for the company. Finally, Royal Bank of Canada raised shares of Smurfit Westrock from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $52.00 to $58.00 in a report on Thursday. 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.43.

Smurfit Westrock Stock Up 2.9 %

Shares of NYSE:SW opened at $51.50 on Friday. The company has a 50 day moving average price of $46.40. The firm has a market capitalization of $26.75 billion, a price-to-earnings ratio of 56.59 and a beta of 1.05. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $52.76.

Smurfit Westrock (NYSE:SW) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). Smurfit Westrock had a net margin of 1.36% and a return on equity of 7.13%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $7.91 billion. Sell-side analysts anticipate that Smurfit Westrock Ltd will post 2.6 EPS for the current fiscal year.

Smurfit Westrock Dividend Announcement

The company 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. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is presently 132.97%.

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.