Prudential Financial Inc. Decreases Stock Position in Smurfit Westrock Ltd (NYSE:SW)

Prudential Financial Inc. decreased its position in shares of Smurfit Westrock Ltd (NYSE:SW) by 8.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,191 shares of the company’s stock after selling 5,370 shares during the period. Prudential Financial Inc.’s holdings in Smurfit Westrock were worth $3,296,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alpha Omega Wealth Management LLC bought a new stake in shares of Smurfit Westrock during the 4th quarter worth approximately $5,252,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Smurfit Westrock by 29.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,487 shares of the company’s stock worth $2,309,000 after purchasing an additional 9,581 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Smurfit Westrock by 11.0% in the fourth quarter. Nordea Investment Management AB now owns 5,039,818 shares of the company’s stock worth $272,049,000 after purchasing an additional 500,699 shares during the last quarter. Kimelman & Baird LLC purchased a new position in Smurfit Westrock in the 3rd quarter worth about $511,000. Finally, First Hawaiian Bank bought a new stake in Smurfit Westrock during the 4th quarter valued at about $936,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Trading Up 3.2 %

NYSE:SW opened at $47.09 on Thursday. The stock has a market capitalization of $24.58 billion, a price-to-earnings ratio of 85.62 and a beta of 0.99. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $50.00 and a 200 day moving average of $50.67.

Smurfit Westrock (NYSE:SW) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.34 earnings per share 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%. As a group, sell-side analysts anticipate that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th were issued a dividend of $0.4308 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.72 annualized dividend and a dividend yield of 3.66%. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. Smurfit Westrock’s dividend payout ratio is 312.73%.

Insider Activity at Smurfit Westrock

In related news, insider Alvaro Henao sold 4,000 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was 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 in the company, valued at $2,391,057.90. This trade represents a 8.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $1,333,828.50. Following the sale, the insider now owns 111,458 shares in the company, valued at approximately $6,136,877.48. The trade was a 17.85 % decrease in their position. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Smurfit Westrock from $66.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Argus assumed coverage on Smurfit Westrock in a report on Thursday, December 5th. They set a “buy” rating and a $62.00 price objective on the stock. Truist Financial initiated coverage on Smurfit Westrock in a report on Tuesday, January 21st. They issued a “buy” rating and a $62.00 target price for the company. Citigroup raised their price target on Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Barclays upped their price objective on shares of Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Smurfit Westrock currently has a consensus rating of “Moderate Buy” and an average price target of $60.70.

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.