Smurfit Westrock (NYSE:SW) Stock Price Down 0.6% – Here’s What Happened

Smurfit Westrock Ltd (NYSE:SW)’s stock price was down 0.6% during trading on Tuesday . The company traded as low as $44.62 and last traded at $44.99. Approximately 707,471 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 4,552,131 shares. The stock had previously closed at $45.24.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SW shares. Citigroup increased their price target on shares of Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a report on Monday, January 6th. Argus initiated coverage on shares of Smurfit Westrock in a research note on Thursday, December 5th. They issued a “buy” rating and a $62.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Truist Financial began coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They issued a “buy” rating and a $62.00 price objective for the company. Finally, Barclays lifted their price target on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.70.

Smurfit Westrock Trading Down 0.2 %

The company has a market capitalization of $23.57 billion, a PE ratio of 82.09 and a beta of 0.99. The company’s fifty day moving average is $51.79 and its 200-day moving average is $50.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.89.

Smurfit Westrock (NYSE:SW) last issued 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 net margin of 0.63% and a return on equity of 6.16%. On average, analysts anticipate that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th will be issued a $0.4308 dividend. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. This represents a $1.72 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Friday, February 14th. Smurfit Westrock’s payout ratio is currently 312.73%.

Insiders Place Their Bets

In other Smurfit Westrock news, insider Ken Bowles sold 24,225 shares of Smurfit Westrock stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $55.06, for a total value of $1,333,828.50. Following the transaction, the insider now directly owns 111,458 shares of the company’s stock, valued at approximately $6,136,877.48. The trade was a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alvaro Henao sold 4,000 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $53.90, for a total transaction of $215,600.00. Following the sale, the insider now directly owns 44,361 shares in the company, valued at $2,391,057.90. This trade represents a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Smurfit Westrock

Large investors have recently made changes to their positions in the stock. Retirement Wealth Solutions LLC purchased a new stake in shares of Smurfit Westrock during the fourth quarter valued at $25,000. Versant Capital Management Inc purchased a new stake in shares of Smurfit Westrock during the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Smurfit Westrock by 117.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock valued at $28,000 after buying an additional 279 shares during the last quarter. Deseret Mutual Benefit Administrators purchased a new stake in shares of Smurfit Westrock during the fourth quarter valued at $30,000. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Smurfit Westrock during the fourth quarter valued at $30,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

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.