Smurfit Westrock PLC $SW Shares Acquired by Parallel Advisors LLC

Parallel Advisors LLC lifted its stake in Smurfit Westrock PLC (NYSE:SW) by 21.8% in the 2nd quarter, Holdings Channel reports. The firm owned 1,494 shares of the company’s stock after purchasing an additional 267 shares during the quarter. Parallel Advisors LLC’s holdings in Smurfit Westrock were worth $64,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. NBC Securities Inc. grew its holdings in shares of Smurfit Westrock by 127,600.0% in the 1st quarter. NBC Securities Inc. now owns 1,277 shares of the company’s stock worth $57,000 after acquiring an additional 1,276 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Smurfit Westrock by 106.3% in the first quarter. QRG Capital Management Inc. now owns 11,709 shares of the company’s stock valued at $528,000 after purchasing an additional 6,032 shares in the last quarter. Foresight Group Ltd Liability Partnership acquired a new stake in shares of Smurfit Westrock in the first quarter valued at approximately $26,028,000. State of Alaska Department of Revenue increased its stake in shares of Smurfit Westrock by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 57,939 shares of the company’s stock worth $2,610,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Smurfit Westrock by 36.5% in the 1st quarter. Farther Finance Advisors LLC now owns 5,038 shares of the company’s stock valued at $230,000 after buying an additional 1,346 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.

Smurfit Westrock Stock Performance

NYSE SW opened at $42.33 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 0.95. Smurfit Westrock PLC has a 1-year low of $37.01 and a 1-year high of $56.99. The firm has a market capitalization of $22.10 billion, a P/E ratio of 64.13 and a beta of 1.04. The business’s 50-day simple moving average is $45.13 and its 200-day simple moving average is $44.14.

Smurfit Westrock (NYSE:SW) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.12). Smurfit Westrock had a net margin of 1.14% and a return on equity of 5.90%. The business had revenue of $7.94 billion during the quarter, compared to analysts’ expectations of $7.88 billion. The business’s revenue for the quarter was up 167.4% compared to the same quarter last year. Equities analysts predict that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, August 15th were issued a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Friday, August 15th. Smurfit Westrock’s dividend payout ratio (DPR) is presently 260.61%.

Analyst Ratings Changes

Several research firms have weighed in on SW. Truist Financial raised their price target on Smurfit Westrock from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. UBS Group began coverage on shares of Smurfit Westrock in a report on Monday, September 15th. They issued a “buy” rating and a $60.00 target price on the stock. Barclays cut their price objective on shares of Smurfit Westrock from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Monday, June 30th. Jefferies Financial Group upgraded shares of Smurfit Westrock from a “hold” rating to a “buy” rating and raised their target price for the stock from $44.00 to $55.00 in a research report on Monday, June 16th. Finally, Morgan Stanley boosted their price target on Smurfit Westrock from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

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.