Smurfit Westrock PLC $SW Shares Sold by Nuveen LLC

Nuveen LLC reduced its position in shares of Smurfit Westrock PLC (NYSE:SW) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,273,203 shares of the company’s stock after selling 1,257,582 shares during the period. Nuveen LLC owned approximately 4.26% of Smurfit Westrock worth $861,305,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Capital Research Global Investors boosted its position in shares of Smurfit Westrock by 31.2% in the 4th quarter. Capital Research Global Investors now owns 36,127,677 shares of the company’s stock valued at $1,397,057,000 after purchasing an additional 8,596,558 shares during the period. State Street Corp boosted its position in shares of Smurfit Westrock by 14.6% in the 3rd quarter. State Street Corp now owns 23,806,914 shares of the company’s stock valued at $1,013,474,000 after purchasing an additional 3,027,125 shares during the period. Orbis Allan Gray Ltd boosted its position in shares of Smurfit Westrock by 81.9% in the 2nd quarter. Orbis Allan Gray Ltd now owns 18,400,418 shares of the company’s stock valued at $793,978,000 after purchasing an additional 8,286,205 shares during the period. Geode Capital Management LLC boosted its position in shares of Smurfit Westrock by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 13,795,987 shares of the company’s stock valued at $531,483,000 after purchasing an additional 155,778 shares during the period. Finally, Norges Bank acquired a new position in shares of Smurfit Westrock in the 4th quarter valued at $495,335,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SW has been the subject of a number of recent analyst reports. Citigroup decreased their price target on Smurfit Westrock from $53.00 to $51.00 and set a “buy” rating for the company in a research report on Monday, May 4th. The Goldman Sachs Group initiated coverage on Smurfit Westrock in a research report on Tuesday, March 24th. They issued a “buy” rating and a $49.00 price target for the company. Jefferies Financial Group set a $58.00 price target on Smurfit Westrock in a research report on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating and issued a $57.00 price target on shares of Smurfit Westrock in a research report on Wednesday, May 6th. Finally, Zacks Research upgraded Smurfit Westrock from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Smurfit Westrock Stock Up 9.5%

Shares of Smurfit Westrock stock opened at $42.65 on Friday. The stock has a 50-day moving average price of $40.40 and a 200 day moving average price of $40.98. The company has a market cap of $22.37 billion, a P/E ratio of 59.24 and a beta of 0.96. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. Smurfit Westrock PLC has a 1 year low of $32.73 and a 1 year high of $52.65.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.57 billion. Smurfit Westrock had a return on equity of 4.96% and a net margin of 1.22%.The firm’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, analysts expect that Smurfit Westrock PLC will post 2.32 EPS for the current fiscal year.

Smurfit Westrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $0.4523 dividend. This represents a $1.81 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Friday, May 15th. Smurfit Westrock’s dividend payout ratio is currently 251.39%.

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.