167,559 Shares in Smurfit Westrock Ltd (NYSE:SW) Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. bought a new stake in Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 167,559 shares of the company’s stock, valued at approximately $8,281,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Management Group Inc. acquired a new stake in shares of Smurfit Westrock during the 3rd quarter valued at $9,405,000. Catalytic Wealth RIA LLC bought a new position in Smurfit Westrock in the third quarter valued at about $520,000. M&G PLC acquired a new stake in shares of Smurfit Westrock during the third quarter valued at about $9,253,000. Nisa Investment Advisors LLC bought a new stake in shares of Smurfit Westrock during the third quarter worth about $542,000. Finally, Amalgamated Bank bought a new stake in shares of Smurfit Westrock during the third quarter worth about $4,854,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Wall Street Analysts Forecast Growth

SW has been the topic of several recent research reports. Jefferies Financial Group reiterated a “hold” rating and set a $52.00 target price on shares of Smurfit Westrock in a research report on Monday, July 29th. Citigroup began coverage on shares of Smurfit Westrock in a report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price target on the stock. Wells Fargo & Company reduced their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. Royal Bank of Canada raised Smurfit Westrock from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $52.00 to $58.00 in a research report on Thursday, October 31st. Finally, Morgan Stanley started coverage on Smurfit Westrock in a research report on Friday, July 19th. They issued an “overweight” rating and a $60.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Smurfit Westrock has a consensus rating of “Moderate Buy” and an average price target of $57.43.

Smurfit Westrock Trading Up 0.7 %

Shares of Smurfit Westrock stock opened at $51.00 on Thursday. The firm has a market cap of $26.53 billion, a P/E ratio of 283.35 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The stock’s 50-day simple moving average is $47.28. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $54.32.

Smurfit Westrock Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.37%. The ex-dividend date is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.26%.

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.