National Bank of Canada FI Acquires 228,635 Shares of Smurfit Westrock Ltd (NYSE:SW)

by · The Markets Daily

National Bank of Canada FI boosted its holdings in shares of Smurfit Westrock Ltd (NYSE:SW – Free Report) by 2,102.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 239,508 shares of the company’s stock after purchasing an additional 228,635 shares during the quarter. National Bank of Canada FI’s holdings in Smurfit Westrock were worth $12,900,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Assetmark Inc. grew its stake in shares of Smurfit Westrock by 16.6% in the fourth quarter. Assetmark Inc. now owns 1,390 shares of the company’s stock worth $75,000 after acquiring an additional 198 shares during the last quarter. Stephens Inc. AR grew its position in Smurfit Westrock by 3.7% in the 4th quarter. Stephens Inc. AR now owns 5,616 shares of the company’s stock worth $302,000 after purchasing an additional 199 shares during the last quarter. Principal Securities Inc. increased its holdings in shares of Smurfit Westrock by 49.1% during the 4th quarter. Principal Securities Inc. now owns 695 shares of the company’s stock worth $37,000 after purchasing an additional 229 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Smurfit Westrock by 117.7% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock valued at $28,000 after buying an additional 279 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in shares of Smurfit Westrock by 0.5% in the fourth quarter. DAVENPORT & Co LLC now owns 55,898 shares of the company’s stock valued at $3,011,000 after buying an additional 299 shares during the period. Institutional investors and hedge funds own 83.38% of the company’s stock.

Analyst Ratings Changes

SW has been the subject of a number of research reports. Truist Financial started coverage on Smurfit Westrock in a research report on Tuesday, January 21st. They issued a “buy” rating and a $62.00 price objective for the company. Barclays upped their target price 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. Citigroup raised their price target on shares of Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Morgan Stanley lowered their price objective on Smurfit Westrock from $66.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 11th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.70.

View Our Latest Research Report on Smurfit Westrock

Insider Buying and Selling

In other news, insider Ken Bowles sold 24,225 shares of Smurfit Westrock stock in a transaction that occurred on 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 completion of the sale, the insider now owns 111,458 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, insider Alvaro Henao sold 4,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $53.90, for a total transaction 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 represents a 8.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

Smurfit Westrock Trading Down 4.0 %

SW stock opened at $41.02 on Friday. 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 stock has a market capitalization of $21.41 billion, a price-to-earnings ratio of 74.58 and a beta of 1.00. The business has a fifty day moving average price of $49.44 and a 200 day moving average price of $50.58. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $56.99.

Smurfit Westrock (NYSE:SW – Get Free Report) last released its quarterly 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 net margin of 0.63% and a return on equity of 6.16%. Analysts expect that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Investors of record on Friday, February 14th were issued a $0.4308 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.20%. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. Smurfit Westrock’s dividend payout ratio (DPR) is currently 312.73%.

Smurfit Westrock Company Profile

(Free Report)

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.

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