MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 1,775 Shares of Smurfit Westrock Ltd (NYSE:SW)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its stake in Smurfit Westrock Ltd (NYSE:SW) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,861 shares of the company’s stock after selling 1,775 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Smurfit Westrock were worth $2,470,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its holdings in Smurfit Westrock by 117.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock worth $28,000 after purchasing an additional 279 shares in the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in Smurfit Westrock in the fourth quarter worth about $30,000. Spire Wealth Management bought a new position in shares of Smurfit Westrock during the fourth quarter valued at approximately $36,000. Principal Securities Inc. lifted its holdings in shares of Smurfit Westrock by 49.1% during the fourth quarter. Principal Securities Inc. now owns 695 shares of the company’s stock valued at $37,000 after purchasing an additional 229 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in Smurfit Westrock by 448.8% during the 4th quarter. First Horizon Advisors Inc. now owns 697 shares of the company’s stock valued at $38,000 after buying an additional 570 shares in the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Performance

Shares of SW opened at $45.98 on Wednesday. The business has a 50-day simple moving average of $42.99 and a two-hundred day simple moving average of $49.44. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. Smurfit Westrock Ltd has a 52 week low of $37.01 and a 52 week high of $56.99. The stock has a market cap of $24.00 billion, a price-to-earnings ratio of 83.60 and a beta of 1.00.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.41 billion. The business’s revenue for the quarter was up 161.3% on a year-over-year basis. On average, analysts expect that Smurfit Westrock Ltd will post 3.25 EPS for the current year.

Smurfit Westrock Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, May 19th will be paid a dividend of $0.4308 per share. This represents a yield of 3.7%. The ex-dividend date of this dividend is Friday, May 16th. Smurfit Westrock’s payout ratio is presently 140.98%.

Insider Activity at Smurfit Westrock

In related news, Director Irial Finan acquired 15,180 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $39.21 per share, for a total transaction of $595,207.80. Following the acquisition, the director now directly owns 54,893 shares of the company’s stock, valued at $2,152,354.53. This represents a 38.22% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alvaro Henao sold 4,000 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $53.90, for a total value of $215,600.00. Following the transaction, the insider now owns 44,361 shares in the company, valued at $2,391,057.90. The trade was a 8.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SW. Wells Fargo & Company cut their target price on Smurfit Westrock from $53.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Morgan Stanley cut their price objective on shares of Smurfit Westrock from $66.00 to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 11th. Barclays decreased their target price on shares of Smurfit Westrock from $68.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Royal Bank of Canada dropped their target price on shares of Smurfit Westrock from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Finally, Truist Financial decreased their price objective on shares of Smurfit Westrock from $62.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $58.20.

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.