Smurfit Westrock (NYSE:SW) Sets New 12-Month High – Here’s What Happened

Smurfit Westrock Ltd (NYSE:SW)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $55.54 and last traded at $54.94, with a volume of 3170306 shares traded. The stock had previously closed at $53.16.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SW shares. Wells Fargo & Company reduced their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. JPMorgan Chase & Co. reduced their target price on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Redburn Atlantic initiated coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They set a “buy” rating and a $60.00 price target on the stock. Citigroup initiated coverage on Smurfit Westrock in a research report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 target price for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $58.00 price target on shares of Smurfit Westrock in a research report on Friday, November 15th. Two investment 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 presently has an average rating of “Moderate Buy” and an average target price of $58.00.

Smurfit Westrock Stock Up 3.6 %

The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The stock’s fifty day moving average price is $48.01. The stock has a market capitalization of $28.65 billion, a P/E ratio of 295.24 and a beta of 1.04.

Smurfit Westrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be given a dividend of $0.3025 per share. This represents a $1.21 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.26%.

Institutional Trading of Smurfit Westrock

A number of hedge funds have recently modified their holdings of the stock. Mather Group LLC. acquired a new position in shares of Smurfit Westrock in the 3rd quarter worth approximately $25,000. CVA Family Office LLC acquired a new stake in Smurfit Westrock during the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at approximately $32,000. Waldron Private Wealth LLC bought a new stake in shares of Smurfit Westrock during the 3rd quarter valued at about $35,000. Finally, Cromwell Holdings LLC bought a new stake in Smurfit Westrock during the 3rd quarter valued at $42,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Company 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.