Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 2,335 Shares of Smurfit Westrock Ltd (NYSE:SW)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its position in Smurfit Westrock Ltd (NYSE:SW) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 105,071 shares of the company’s stock after selling 2,335 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Smurfit Westrock were worth $5,659,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Alpha Omega Wealth Management LLC bought a new position in shares of Smurfit Westrock in the fourth quarter worth approximately $5,252,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Smurfit Westrock by 29.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,487 shares of the company’s stock worth $2,309,000 after buying an additional 9,581 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Smurfit Westrock in the third quarter worth $597,000. Moors & Cabot Inc. purchased a new position in shares of Smurfit Westrock in the third quarter worth $520,000. Finally, Citigroup Inc. purchased a new position in shares of Smurfit Westrock in the third quarter worth $77,207,000. 83.38% of the stock is currently owned by institutional investors.

Smurfit Westrock Trading Down 3.3 %

Shares of SW opened at $44.21 on Friday. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $56.99. The company has a market cap of $23.08 billion, a P/E ratio of 80.39 and a beta of 0.99. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $51.26 and its 200-day simple moving average is $50.62.

Smurfit Westrock (NYSE:SW) last announced its earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share 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%. As a group, analysts expect that Smurfit Westrock Ltd will post 3.25 EPS for the current year.

Smurfit Westrock Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th were paid a $0.4308 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.72 annualized dividend and a dividend yield of 3.90%. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. Smurfit Westrock’s dividend payout ratio is currently 312.73%.

Analyst Ratings Changes

SW has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Argus initiated coverage on shares of Smurfit Westrock in a report on Thursday, December 5th. They issued a “buy” rating and a $62.00 target price on the stock. Barclays boosted their target price on shares of Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Citigroup upped their price target on shares of Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Truist Financial initiated coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They set a “buy” rating and a $62.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Smurfit Westrock presently has an average rating of “Moderate Buy” and an average target price of $60.70.

Insider Activity

In other news, insider Ken Bowles sold 24,225 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $6,136,877.48. This represents a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alvaro Henao sold 4,000 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $53.90, for a total transaction of $215,600.00. Following the completion of the transaction, the insider now owns 44,361 shares in the company, valued at approximately $2,391,057.90. The trade was a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

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.