Exchange Traded Concepts LLC Buys Shares of 1,686 Smurfit Westrock Ltd (NYSE:SW)

Exchange Traded Concepts LLC purchased a new position in shares of Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,686 shares of the company’s stock, valued at approximately $83,000.

Several other institutional investors and hedge funds have also made changes to their positions in SW. Mather Group LLC. purchased a new stake in Smurfit Westrock during the 3rd quarter worth about $25,000. Perpetual Ltd purchased a new stake in shares of Smurfit Westrock during the third quarter worth about $214,000. Clarius Group LLC acquired a new position in shares of Smurfit Westrock in the third quarter valued at approximately $218,000. CWM LLC purchased a new position in shares of Smurfit Westrock during the third quarter valued at approximately $227,000. Finally, GAMMA Investing LLC acquired a new stake in Smurfit Westrock during the third quarter worth approximately $249,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Up 0.8 %

Shares of NYSE:SW opened at $44.54 on Wednesday. The business’s 50-day moving average price is $45.83. The stock has a market cap of $11.45 billion, a PE ratio of 37.43 and a beta of 1.05. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $50.60.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.06). The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $7.91 billion. Smurfit Westrock had a return on equity of 7.13% and a net margin of 1.36%. Research analysts expect that Smurfit Westrock Ltd will post 2.6 EPS for the current year.

Smurfit Westrock Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.3025 per share. This represents a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, August 15th. Smurfit Westrock’s dividend payout ratio is presently 101.68%.

Analyst Ratings Changes

Several research analysts have weighed in on SW shares. JPMorgan Chase & Co. cut their price target on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company reduced their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Morgan Stanley started coverage on Smurfit Westrock in a report on Friday, July 19th. They issued an “overweight” rating and a $60.00 price target for the company. Jefferies Financial Group reiterated a “hold” rating and set a $52.00 price objective on shares of Smurfit Westrock in a report on Monday, July 29th. Finally, Redburn Atlantic initiated coverage on shares of Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Smurfit Westrock presently has an average rating of “Moderate Buy” and a consensus price target of $56.50.

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.