Principal Securities Inc. Boosts Stake in Smurfit Westrock Ltd (NYSE:SW)

Principal Securities Inc. lifted its holdings in Smurfit Westrock Ltd (NYSE:SW) by 49.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 695 shares of the company’s stock after purchasing an additional 229 shares during the quarter. Principal Securities Inc.’s holdings in Smurfit Westrock were worth $37,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Rhumbline Advisers grew its stake in Smurfit Westrock by 0.9% in the 4th quarter. Rhumbline Advisers now owns 868,433 shares of the company’s stock valued at $46,774,000 after acquiring an additional 7,474 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Smurfit Westrock by 40.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 42,104 shares of the company’s stock valued at $2,268,000 after purchasing an additional 12,166 shares during the period. Valeo Financial Advisors LLC purchased a new stake in shares of Smurfit Westrock during the fourth quarter worth about $683,000. Blue Trust Inc. purchased a new stake in shares of Smurfit Westrock during the fourth quarter worth about $579,000. Finally, Banque Pictet & Cie SA raised its position in shares of Smurfit Westrock by 134.7% during the 4th quarter. Banque Pictet & Cie SA now owns 331,019 shares of the company’s stock worth $17,829,000 after purchasing an additional 189,975 shares during the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

Smurfit Westrock Stock Up 0.9 %

Shares of SW opened at $52.15 on Friday. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $56.99. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $53.59 and a two-hundred day simple moving average of $50.49. The company has a market capitalization of $27.14 billion, a PE ratio of 94.81 and a beta of 1.02.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. As a group, equities analysts forecast that Smurfit Westrock Ltd will post 3.25 EPS for the current year.

Smurfit Westrock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.4308 per share. The ex-dividend date is Friday, February 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.30%. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. Smurfit Westrock’s dividend payout ratio (DPR) is currently 312.73%.

Analysts Set New Price Targets

Several equities research analysts have commented on SW shares. Morgan Stanley boosted their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Barclays boosted their price target on Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada restated an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a report on Friday, November 15th. Truist Financial began coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They set a “buy” rating and a $62.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their target price on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Smurfit Westrock currently has an average rating of “Moderate Buy” and a consensus target price of $60.70.

Insider Activity

In other news, insider Ken Bowles sold 24,225 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the completion of the transaction, the insider now directly owns 111,458 shares in the company, valued at approximately $6,136,877.48. This represents a 17.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Saverio Mayer sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $54.84, for a total value of $1,371,000.00. Following the sale, the insider now directly owns 149,911 shares of the company’s stock, valued at $8,221,119.24. The trade was a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,225 shares of company stock valued at $2,920,429. 0.49% of the stock is currently owned by company insiders.

Smurfit Westrock 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.