Bank of New York Mellon Corp Sells 15,766 Shares of Smurfit Westrock Ltd (NYSE:SW)

Bank of New York Mellon Corp cut its stake in Smurfit Westrock Ltd (NYSE:SW) by 0.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,288,383 shares of the company’s stock after selling 15,766 shares during the quarter. Bank of New York Mellon Corp owned 1.40% of Smurfit Westrock worth $392,552,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Retirement Wealth Solutions LLC bought a new stake in Smurfit Westrock in the fourth quarter valued at approximately $25,000. Versant Capital Management Inc acquired a new position in shares of Smurfit Westrock in the 4th quarter valued at $27,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Smurfit Westrock by 117.7% in the 4th 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 in the last quarter. Deseret Mutual Benefit Administrators acquired a new stake in Smurfit Westrock during the 4th quarter worth $30,000. Finally, Spire Wealth Management bought a new position in Smurfit Westrock during the fourth quarter worth about $36,000. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Smurfit Westrock

In other Smurfit Westrock news, insider Alvaro Henao sold 4,000 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $53.90, for a total value of $215,600.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ken Bowles sold 24,225 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the transaction, the insider now owns 111,458 shares in the company, valued at $6,136,877.48. This represents a 17.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,225 shares of company stock worth $2,920,429 over the last ninety days. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SW. Barclays increased their price target on Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Morgan Stanley increased their target price on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Argus started coverage on shares of Smurfit Westrock in a report on Thursday, December 5th. They set a “buy” rating and a $62.00 target price on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 price target on shares of Smurfit Westrock in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.70.

Smurfit Westrock Stock Performance

Shares of SW stock opened at $53.63 on Thursday. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $56.99. The company’s fifty day simple moving average is $53.60 and its 200-day simple moving average is $50.39. The firm has a market cap of $27.91 billion, a PE ratio of 97.51 and a beta of 1.02. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.72.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. Equities research 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 will be paid on Tuesday, March 18th. Investors of record on Friday, February 14th will be given a dividend of $0.4308 per share. The ex-dividend date is Friday, February 14th. This is a boost from Smurfit Westrock’s previous quarterly dividend of $0.30. This represents a $1.72 annualized dividend and a yield of 3.21%. Smurfit Westrock’s dividend payout ratio is 312.73%.

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.