Oppenheimer Asset Management Inc. Lowers Stock Holdings in Smurfit Westrock Ltd (NYSE:SW)

Oppenheimer Asset Management Inc. cut its stake in shares of Smurfit Westrock Ltd (NYSE:SW) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 166,491 shares of the company’s stock after selling 1,068 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Smurfit Westrock were worth $8,967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SW. New York Life Investment Management LLC increased its holdings in shares of Smurfit Westrock by 1.1% in the fourth quarter. New York Life Investment Management LLC now owns 67,206 shares of the company’s stock valued at $3,620,000 after purchasing an additional 759 shares during the period. Whipplewood Advisors LLC purchased a new position in Smurfit Westrock in the 4th quarter valued at $58,000. National Pension Service grew its position in Smurfit Westrock by 833.3% in the 4th quarter. National Pension Service now owns 752,312 shares of the company’s stock valued at $40,520,000 after buying an additional 671,700 shares during the last quarter. Mainstay Capital Management LLC ADV increased its stake in Smurfit Westrock by 1.1% in the 4th quarter. Mainstay Capital Management LLC ADV now owns 36,793 shares of the company’s stock valued at $1,982,000 after buying an additional 410 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in Smurfit Westrock during the 4th quarter worth $8,359,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Down 3.3 %

SW opened at $51.77 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37. The company has a market cap of $26.95 billion, a price-to-earnings ratio of 94.13 and a beta of 1.02. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $56.99. The business’s fifty day moving average is $53.61 and its two-hundred day moving average is $50.40.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. Analysts anticipate that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be given a $0.4308 dividend. The ex-dividend date is Friday, February 14th. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. This represents a $1.72 annualized dividend and a dividend yield of 3.33%. Smurfit Westrock’s dividend payout ratio is currently 312.73%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SW. Truist Financial assumed coverage on shares of Smurfit Westrock in a report on Tuesday, January 21st. They issued a “buy” rating and a $62.00 target price on the stock. Argus began coverage on Smurfit Westrock in a report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price objective on the stock. Barclays raised their price target on Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upped their price objective on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $60.70.

Insider Transactions at Smurfit Westrock

In related news, insider Ken Bowles sold 24,225 shares of the stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Saverio Mayer sold 25,000 shares of Smurfit Westrock stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $54.84, for a total value of $1,371,000.00. Following the sale, the insider now owns 149,911 shares of the company’s stock, valued at approximately $8,221,119.24. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,225 shares of company stock valued at $2,920,429 in the last ninety days. Corporate 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.