State of Michigan Retirement System Purchases 5,200 Shares of Smurfit Westrock Ltd (NYSE:SW)

State of Michigan Retirement System raised its holdings in shares of Smurfit Westrock Ltd (NYSE:SW) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,264 shares of the company’s stock after purchasing an additional 5,200 shares during the period. State of Michigan Retirement System’s holdings in Smurfit Westrock were worth $7,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Retirement Wealth Solutions LLC bought a new position in shares of Smurfit Westrock in the 4th quarter worth $25,000. Versant Capital Management Inc bought a new position in Smurfit Westrock during the fourth quarter worth about $27,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Smurfit Westrock by 117.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock worth $28,000 after buying an additional 279 shares during the last quarter. Deseret Mutual Benefit Administrators acquired a new position in shares of Smurfit Westrock during the 4th quarter worth about $30,000. Finally, Spire Wealth Management bought a new stake in shares of Smurfit Westrock in the 4th quarter valued at about $36,000. Institutional investors own 83.38% of the company’s stock.

Insider Activity at Smurfit Westrock

In other Smurfit Westrock news, insider Ken Bowles sold 24,225 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the sale, the insider now directly owns 111,458 shares of the company’s stock, valued at $6,136,877.48. The trade was a 17.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $215,600.00. Following the completion of the transaction, the insider now owns 44,361 shares of the company’s stock, valued at $2,391,057.90. The trade was a 8.27 % decrease in their position. The disclosure for this sale can be found here. 0.49% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on SW. Argus initiated coverage on shares of Smurfit Westrock in a research note on Thursday, December 5th. They set a “buy” rating and a $62.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research report on Friday, November 15th. Morgan Stanley upped their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Citigroup lifted their target price on Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.70.

Smurfit Westrock Stock Performance

Shares of Smurfit Westrock stock opened at $48.29 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.89. The firm has a market cap of $25.13 billion, a price-to-earnings ratio of 87.79 and a beta of 0.99. The stock’s 50-day moving average is $53.23 and its 200-day moving average is $50.69. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $56.99.

Smurfit Westrock (NYSE:SW) last released its earnings results 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 net margin of 0.63% and a return on equity of 6.16%. Equities analysts predict that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Increases Dividend

The firm also recently disclosed 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, February 14th. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. Smurfit Westrock’s payout ratio is currently 312.73%.

Smurfit Westrock 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.