Rhumbline Advisers Increases Position in Smurfit Westrock PLC $SW

Rhumbline Advisers increased its stake in shares of Smurfit Westrock PLC (NYSE:SW) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 942,245 shares of the company’s stock after purchasing an additional 14,985 shares during the quarter. Rhumbline Advisers owned approximately 0.18% of Smurfit Westrock worth $40,111,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Smurfit Westrock by 1.6% during the second quarter. Vanguard Group Inc. now owns 80,421,330 shares of the company’s stock valued at $3,472,329,000 after buying an additional 1,233,997 shares during the last quarter. State Street Corp raised its stake in shares of Smurfit Westrock by 1.7% during the 2nd quarter. State Street Corp now owns 20,779,789 shares of the company’s stock worth $896,661,000 after acquiring an additional 339,787 shares in the last quarter. Orbis Allan Gray Ltd lifted its position in Smurfit Westrock by 81.9% during the second quarter. Orbis Allan Gray Ltd now owns 18,400,418 shares of the company’s stock valued at $793,978,000 after acquiring an additional 8,286,205 shares during the last quarter. Norges Bank purchased a new stake in Smurfit Westrock during the second quarter valued at approximately $749,735,000. Finally, Bank of New York Mellon Corp boosted its stake in Smurfit Westrock by 2.3% in the third quarter. Bank of New York Mellon Corp now owns 8,693,951 shares of the company’s stock valued at $370,101,000 after acquiring an additional 193,099 shares in the last quarter. Institutional investors own 83.38% of the company’s stock.

Analyst Ratings Changes

SW has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price objective on Smurfit Westrock from $51.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday. Morgan Stanley reaffirmed an “overweight” rating on shares of Smurfit Westrock in a research report on Thursday, January 8th. Citigroup increased their price target on Smurfit Westrock from $48.00 to $59.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company boosted their price target on Smurfit Westrock from $48.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group set a $58.00 price objective on shares of Smurfit Westrock in a research report on Thursday. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Smurfit Westrock currently has an average rating of “Moderate Buy” and a consensus price target of $55.40.

Smurfit Westrock Stock Up 0.3%

Smurfit Westrock stock opened at $51.57 on Friday. Smurfit Westrock PLC has a fifty-two week low of $32.73 and a fifty-two week high of $55.49. The company has a market cap of $26.94 billion, a PE ratio of 38.77 and a beta of 1.09. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.97 and a current ratio of 1.48. The business’s 50-day simple moving average is $41.22 and its two-hundred day simple moving average is $41.26.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.12). The firm had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.63 billion. Smurfit Westrock had a return on equity of 6.10% and a net margin of 2.24%.The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 earnings per share. Equities analysts anticipate that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Tuesday, February 17th will be issued a $0.4523 dividend. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $1.81 annualized dividend and a dividend yield of 3.5%. Smurfit Westrock’s payout ratio is currently 135.34%.

Smurfit Westrock Company 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.