601,298 Shares in Smurfit Westrock Ltd (NYSE:SW) Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new position in Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 601,298 shares of the company’s stock, valued at approximately $29,716,000.

A number of other hedge funds also recently modified their holdings of SW. Mather Group LLC. bought a new stake in Smurfit Westrock during the 3rd quarter valued at $25,000. CVA Family Office LLC bought a new stake in Smurfit Westrock during the 3rd quarter valued at $26,000. ORG Wealth Partners LLC bought a new stake in Smurfit Westrock during the 3rd quarter valued at $32,000. Waldron Private Wealth LLC bought a new stake in Smurfit Westrock during the 3rd quarter valued at $35,000. Finally, Cromwell Holdings LLC bought a new stake in Smurfit Westrock during the 3rd quarter valued at $42,000. Institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Stock Performance

Shares of NYSE:SW opened at $50.67 on Wednesday. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $54.32. The stock has a fifty day moving average of $47.18. The stock has a market capitalization of $26.32 billion, a price-to-earnings ratio of 281.50 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98.

Smurfit Westrock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be given a $0.3025 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 annualized dividend and a yield of 2.39%. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.22%.

Analyst Ratings Changes

Several research firms have recently weighed in on SW. Citigroup began coverage on shares of Smurfit Westrock in a report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $52.00 price target on shares of Smurfit Westrock in a report on Monday, July 29th. Redburn Atlantic began coverage on shares of Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Royal Bank of Canada raised shares of Smurfit Westrock from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $52.00 to $58.00 in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Smurfit Westrock has an average rating of “Moderate Buy” and a consensus target price of $57.43.

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.