Weiss Asset Management LP Buys New Stake in Smurfit Westrock Ltd (NYSE:SW)

Weiss Asset Management LP purchased a new position in Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 34,269 shares of the company’s stock, valued at approximately $1,694,000.

Several other institutional investors have also modified their holdings of SW. Mather Group LLC. acquired a new position in shares of Smurfit Westrock in the third quarter worth $25,000. CVA Family Office LLC purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $32,000. Waldron Private Wealth LLC purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $35,000. Finally, Cromwell Holdings LLC purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $42,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Smurfit Westrock Price Performance

Shares of SW opened at $54.61 on Friday. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $56.99. The stock has a market capitalization of $28.41 billion, a PE ratio of 303.41 and a beta of 1.04. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The company has a fifty day moving average of $50.13.

Smurfit Westrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a yield of 2.22%. Smurfit Westrock’s dividend payout ratio is presently 672.26%.

Analyst Upgrades and Downgrades

SW has been the subject of several recent analyst reports. Citigroup initiated coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price objective for the company. Redburn Atlantic initiated 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. JPMorgan Chase & Co. lifted their price objective on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Wells Fargo & Company decreased their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. Finally, Morgan Stanley boosted their price target on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Smurfit Westrock has an average rating of “Moderate Buy” and an average target price of $59.00.

Insider Buying and Selling at Smurfit Westrock

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of Smurfit Westrock stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following the transaction, the insider now directly owns 149,911 shares in the company, valued at approximately $8,221,119.24. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is currently owned by company insiders.

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.