Smurfit Westrock PLC $SW Shares Acquired by Rhumbline Advisers

Rhumbline Advisers lifted its stake in Smurfit Westrock PLC (NYSE:SW) by 1.6% during the third quarter, Holdings Channel reports. The institutional investor owned 942,245 shares of the company’s stock after acquiring an additional 14,985 shares during the quarter. Rhumbline Advisers’ holdings in Smurfit Westrock were worth $40,111,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. TD Waterhouse Canada Inc. lifted its holdings in Smurfit Westrock by 113.3% in the third quarter. TD Waterhouse Canada Inc. now owns 640 shares of the company’s stock valued at $27,000 after acquiring an additional 340 shares during the period. CYBER HORNET ETFs LLC purchased a new position in shares of Smurfit Westrock during the 2nd quarter valued at approximately $29,000. Root Financial Partners LLC acquired a new position in shares of Smurfit Westrock in the 3rd quarter valued at $33,000. Rexford Capital Inc. purchased a new stake in Smurfit Westrock during the second quarter worth $35,000. Finally, Whipplewood Advisors LLC grew its position in Smurfit Westrock by 50.0% during the second quarter. Whipplewood Advisors LLC now owns 1,026 shares of the company’s stock valued at $44,000 after buying an additional 342 shares during the period. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Up 0.3%

Shares of SW opened at $51.57 on Friday. Smurfit Westrock PLC has a one year low of $32.73 and a one year high of $55.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.97 and a current ratio of 1.48. The stock has a 50 day moving average price of $41.22 and a 200 day moving average price of $41.26. The stock has a market capitalization of $26.94 billion, a price-to-earnings ratio of 38.77 and a beta of 1.09.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Wednesday, February 11th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.12). The business had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.63 billion. Smurfit Westrock had a net margin of 2.24% and a return on equity of 6.10%. Smurfit Westrock’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. Equities research analysts forecast that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.4523 per share. The ex-dividend date is Tuesday, February 17th. This represents a $1.81 annualized dividend and a dividend yield of 3.5%. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.43. Smurfit Westrock’s payout ratio is presently 135.34%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Smurfit Westrock from $51.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smurfit Westrock in a report on Monday, December 29th. Morgan Stanley reissued an “overweight” rating on shares of Smurfit Westrock in a report on Thursday, January 8th. Citigroup boosted their price objective on Smurfit Westrock from $48.00 to $59.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company increased their target price on Smurfit Westrock from $48.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Smurfit Westrock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.40.

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.