Police & Firemen s Retirement System of New Jersey Has $3.40 Million Position in Smurfit Westrock PLC $SW

Police & Firemen s Retirement System of New Jersey lessened its stake in Smurfit Westrock PLC (NYSE:SW) by 58.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 78,706 shares of the company’s stock after selling 108,851 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Smurfit Westrock were worth $3,396,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of SW. Nuveen LLC acquired a new position in shares of Smurfit Westrock in the first quarter valued at $1,051,299,000. Ruffer LLP bought a new position in Smurfit Westrock during the second quarter worth about $196,095,000. Orbis Allan Gray Ltd boosted its holdings in Smurfit Westrock by 74.8% during the first quarter. Orbis Allan Gray Ltd now owns 10,114,213 shares of the company’s stock valued at $455,746,000 after purchasing an additional 4,329,653 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Smurfit Westrock by 39.3% in the 1st quarter. JPMorgan Chase & Co. now owns 6,100,067 shares of the company’s stock worth $274,869,000 after buying an additional 1,721,889 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Smurfit Westrock by 19.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,500,852 shares of the company’s stock valued at $366,812,000 after buying an additional 1,399,464 shares in the last quarter. Institutional investors own 83.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Smurfit Westrock from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Seaport Res Ptn upgraded shares of Smurfit Westrock from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Royal Bank Of Canada cut their target price on shares of Smurfit Westrock from $55.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. UBS Group initiated coverage on Smurfit Westrock in a research report on Monday, September 15th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on Smurfit Westrock from $52.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $55.30.

Smurfit Westrock Trading Down 2.5%

Shares of NYSE SW opened at $34.21 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.48 and a quick ratio of 0.95. Smurfit Westrock PLC has a fifty-two week low of $33.71 and a fifty-two week high of $56.99. The company’s 50 day simple moving average is $41.17 and its 200 day simple moving average is $43.41. The firm has a market capitalization of $17.86 billion, a P/E ratio of 23.92 and a beta of 1.11.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.10). Smurfit Westrock had a net margin of 2.40% and a return on equity of 6.21%. The company had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.89 billion. The company’s revenue was up 4.3% compared to the same quarter last year. On average, analysts predict that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 14th will be issued a $0.4308 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.72 annualized dividend and a yield of 5.0%. Smurfit Westrock’s dividend payout ratio (DPR) is 120.28%.

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.