Patten Group Inc. Has $695,000 Stake in Smurfit Westrock Ltd (NYSE:SW)

Patten Group Inc. boosted its stake in shares of Smurfit Westrock Ltd (NYSE:SW) by 4.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 12,904 shares of the company’s stock after buying an additional 511 shares during the quarter. Patten Group Inc.’s holdings in Smurfit Westrock were worth $695,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SW. Retirement Wealth Solutions LLC acquired a new position in Smurfit Westrock during the 4th quarter worth about $25,000. Versant Capital Management Inc acquired a new position in Smurfit Westrock during the 4th quarter worth about $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Smurfit Westrock by 117.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock worth $28,000 after buying an additional 279 shares during the period. Deseret Mutual Benefit Administrators acquired a new position in Smurfit Westrock during the 4th quarter worth about $30,000. Finally, Spire Wealth Management acquired a new position in Smurfit Westrock during the 4th quarter worth about $36,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Smurfit Westrock Stock Performance

Shares of Smurfit Westrock stock opened at $46.66 on Wednesday. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $56.99. The firm has a market capitalization of $24.29 billion, a price-to-earnings ratio of 84.84 and a beta of 1.02. The business has a 50-day simple moving average of $53.36 and a 200 day simple moving average of $50.70. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.89.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Wednesday, February 12th. The company reported $0.34 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%. On average, research analysts anticipate that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 14th will be given a $0.4308 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.69%. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 14th. Smurfit Westrock’s payout ratio is presently 312.73%.

Insider Activity at Smurfit Westrock

In other Smurfit Westrock news, insider Alvaro Henao sold 4,000 shares of Smurfit Westrock stock in a transaction dated Monday, February 24th. The stock was 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 approximately $2,391,057.90. The trade was a 8.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ken Bowles sold 24,225 shares of Smurfit Westrock stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $55.06, for a total value of $1,333,828.50. Following the transaction, the insider now owns 111,458 shares of the company’s stock, valued at $6,136,877.48. This trade represents a 17.85 % decrease in their position. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

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.