Connor Clark & Lunn Investment Management Ltd. Buys 10,700 Shares of Smurfit Westrock PLC $SW

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Smurfit Westrock PLC (NYSE:SW) by 238.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,188 shares of the company’s stock after buying an additional 10,700 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Smurfit Westrock were worth $655,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT purchased a new position in Smurfit Westrock during the first quarter valued at approximately $29,000. IMA Advisory Services Inc. purchased a new stake in Smurfit Westrock in the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC boosted its holdings in Smurfit Westrock by 50.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 1,026 shares of the company’s stock valued at $44,000 after purchasing an additional 342 shares during the period. SVB Wealth LLC purchased a new position in shares of Smurfit Westrock during the 1st quarter valued at $49,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Smurfit Westrock by 81.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,130 shares of the company’s stock valued at $49,000 after purchasing an additional 507 shares in the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SW has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Smurfit Westrock in a research report on Wednesday, October 8th. Truist Financial cut their price objective on Smurfit Westrock from $55.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Royal Bank Of Canada decreased their price objective on shares of Smurfit Westrock from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, October 30th. Barclays lowered their target price on shares of Smurfit Westrock from $63.00 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, November 10th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $52.00 price target on shares of Smurfit Westrock in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $55.30.

Smurfit Westrock Stock Performance

NYSE:SW opened at $33.66 on Thursday. The company has a market capitalization of $17.57 billion, a price-to-earnings ratio of 23.54 and a beta of 1.12. The business has a 50 day moving average of $40.45 and a 200 day moving average of $43.24. 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 1-year low of $33.19 and a 1-year high of $56.99.

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

Smurfit Westrock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, November 14th will be paid a $0.4308 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.72 annualized dividend and a yield of 5.1%. Smurfit Westrock’s payout ratio is currently 120.28%.

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.