Mirae Asset Global Investments Co. Ltd. Grows Holdings in Smurfit Westrock PLC (NYSE:SW)

Mirae Asset Global Investments Co. Ltd. boosted its position in Smurfit Westrock PLC (NYSE:SW) by 34.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 57,241 shares of the company’s stock after purchasing an additional 14,754 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Smurfit Westrock were worth $2,548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SW. Artemis Investment Management LLP grew its holdings in shares of Smurfit Westrock by 30.8% in the first quarter. Artemis Investment Management LLP now owns 521,905 shares of the company’s stock valued at $23,517,000 after acquiring an additional 123,029 shares in the last quarter. Old North State Wealth Management LLC boosted its position in Smurfit Westrock by 2.5% in the first quarter. Old North State Wealth Management LLC now owns 79,363 shares of the company’s stock worth $3,578,000 after purchasing an additional 1,926 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Smurfit Westrock by 1.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 121,793 shares of the company’s stock valued at $5,488,000 after purchasing an additional 1,490 shares during the period. Adams Natural Resources Fund Inc. grew its stake in Smurfit Westrock by 101.7% in the 1st quarter. Adams Natural Resources Fund Inc. now owns 83,300 shares of the company’s stock valued at $3,753,000 after purchasing an additional 42,000 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in shares of Smurfit Westrock by 3.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 204,249 shares of the company’s stock valued at $9,203,000 after purchasing an additional 7,455 shares during the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Insider Buying and Selling

In other news, Director Irial Finan purchased 15,180 shares of Smurfit Westrock stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $39.21 per share, for a total transaction of $595,207.80. Following the transaction, the director directly owned 54,893 shares of the company’s stock, valued at approximately $2,152,354.53. This trade represents a 38.22% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.49% of the stock is currently owned by insiders.

Smurfit Westrock Price Performance

Shares of NYSE SW opened at $47.20 on Thursday. The stock has a fifty day moving average of $43.31 and a 200-day moving average of $47.26. The stock has a market cap of $24.64 billion, a PE ratio of 38.69 and a beta of 1.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.43. Smurfit Westrock PLC has a fifty-two week low of $37.01 and a fifty-two week high of $56.99.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.08. Smurfit Westrock had a return on equity of 7.38% and a net margin of 1.98%. The firm had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.41 billion. The firm’s quarterly revenue was up 161.3% on a year-over-year basis. Equities research analysts anticipate that Smurfit Westrock PLC will post 3.25 earnings per share for the current year.

Smurfit Westrock Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays cut their price target on shares of Smurfit Westrock from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday. 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. Truist Financial reduced their target price on shares of Smurfit Westrock from $62.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group raised shares of Smurfit Westrock from a “hold” rating to a “buy” rating and lifted their price target for the stock from $44.00 to $55.00 in a report on Monday, June 16th. Finally, Wells Fargo & Company dropped their price target on Smurfit Westrock from $53.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Smurfit Westrock has an average rating of “Moderate Buy” and a consensus price target of $58.40.

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.