Cullen Capital Management LLC Acquires Shares of 1,359,382 Smurfit Westrock PLC $SW

Cullen Capital Management LLC acquired a new position in shares of Smurfit Westrock PLC (NYSE:SW) in the second quarter, Holdings Channel reports. The fund acquired 1,359,382 shares of the company’s stock, valued at approximately $62,885,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SW. Horizon Investments LLC lifted its stake in shares of Smurfit Westrock by 1,042.7% in the 4th quarter. Horizon Investments LLC now owns 207,429 shares of the company’s stock worth $8,021,000 after acquiring an additional 189,276 shares during the period. Handelsbanken Fonder AB boosted its holdings in shares of Smurfit Westrock by 23.4% in the second quarter. Handelsbanken Fonder AB now owns 194,600 shares of the company’s stock valued at $9,002,000 after acquiring an additional 36,900 shares in the last quarter. Trinity Street Asset Management LLP acquired a new position in shares of Smurfit Westrock during the second quarter worth about $243,400,000. Janus Henderson Group PLC increased its stake in shares of Smurfit Westrock by 11.2% during the first quarter. Janus Henderson Group PLC now owns 212,511 shares of the company’s stock worth $8,350,000 after acquiring an additional 21,388 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Smurfit Westrock during the first quarter worth about $44,056,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SW shares. Morgan Stanley restated an “overweight” rating and issued a $57.00 price objective on shares of Smurfit Westrock in a research report on Wednesday, May 6th. Wells Fargo & Company boosted their target price on Smurfit Westrock from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft started coverage on Smurfit Westrock in a research note on Tuesday, June 23rd. They set a “buy” rating and a $57.00 target price for the company. JPMorgan Chase & Co. raised their price target on Smurfit Westrock from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Finally, Truist Financial lifted their price target on Smurfit Westrock from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.62.

Smurfit Westrock Stock Down 1.2%

Shares of NYSE SW opened at $48.78 on Tuesday. The stock has a market capitalization of $25.59 billion, a price-to-earnings ratio of 51.89, a price-to-earnings-growth ratio of 0.90 and a beta of 0.96. Smurfit Westrock PLC has a 52 week low of $32.73 and a 52 week high of $52.65. The firm has a 50-day moving average price of $46.32 and a 200 day moving average price of $43.53. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.73.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Wednesday, July 29th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.07). Smurfit Westrock had a return on equity of 4.60% and a net margin of 1.59%.The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that Smurfit Westrock PLC will post 2.06 EPS for the current fiscal year.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a $0.4523 dividend. The ex-dividend date is Friday, August 14th. This represents a $1.81 dividend on an annualized basis and a dividend yield of 3.7%. Smurfit Westrock’s dividend payout ratio is currently 192.55%.

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.