Huntington National Bank Invests $50,000 in Smurfit Westrock Ltd (NYSE:SW)

Huntington National Bank bought a new stake in shares of Smurfit Westrock Ltd (NYSE:SW) during the 4th quarter, HoldingsChannel.com reports. The firm bought 921 shares of the company’s stock, valued at approximately $50,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank bought a new position in Smurfit Westrock during the 4th quarter valued at about $1,300,041,000. Geode Capital Management LLC acquired a new position in shares of Smurfit Westrock in the 3rd quarter worth approximately $627,244,000. Boston Partners bought a new stake in Smurfit Westrock during the 4th quarter worth approximately $304,377,000. Victory Capital Management Inc. increased its holdings in Smurfit Westrock by 4,456.7% during the 4th quarter. Victory Capital Management Inc. now owns 5,491,092 shares of the company’s stock valued at $295,750,000 after purchasing an additional 5,370,587 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in Smurfit Westrock in the 3rd quarter valued at $221,026,000. Institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Trading Down 4.1 %

Shares of Smurfit Westrock stock opened at $39.36 on Tuesday. Smurfit Westrock Ltd has a 1 year low of $37.76 and a 1 year high of $56.99. The company has a market capitalization of $20.54 billion, a price-to-earnings ratio of 71.56 and a beta of 1.00. The business has a fifty day simple moving average of $49.13 and a two-hundred day simple moving average of $50.55. 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 posted its earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.33). Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. Research analysts forecast 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 given a $0.4308 dividend. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, February 14th. This represents a $1.72 annualized dividend and a dividend yield of 4.38%. Smurfit Westrock’s dividend payout ratio is presently 312.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SW shares. Morgan Stanley lowered their target price on Smurfit Westrock from $66.00 to $64.00 and set an “overweight” rating for the company in a research note on Tuesday, March 11th. Truist Financial initiated coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They issued a “buy” rating and a $62.00 target price for the company. Barclays increased 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. Finally, Citigroup upped their price objective on Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, January 6th. 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 MarketBeat, Smurfit Westrock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.70.

Insider Transactions at Smurfit Westrock

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

About Smurfit Westrock

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.