Securian Asset Management Inc. Cuts Stake in Smurfit Westrock PLC $SW

Securian Asset Management Inc. reduced its stake in shares of Smurfit Westrock PLC (NYSE:SW) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,779 shares of the company’s stock after selling 316 shares during the period. Securian Asset Management Inc.’s holdings in Smurfit Westrock were worth $1,112,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Zions Bancorporation National Association UT purchased a new position in shares of Smurfit Westrock during the 1st quarter worth about $29,000. IMA Advisory Services Inc. acquired a new stake in Smurfit Westrock during the 1st quarter worth approximately $30,000. Tsfg LLC acquired a new stake in Smurfit Westrock during the 1st quarter worth approximately $30,000. Smallwood Wealth Investment Management LLC acquired a new stake in Smurfit Westrock during the 1st quarter worth approximately $40,000. Finally, SVB Wealth LLC acquired a new stake in Smurfit Westrock during the 1st quarter worth approximately $49,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Up 0.8%

Shares of NYSE:SW opened at $43.02 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.45 and a debt-to-equity ratio of 0.73. Smurfit Westrock PLC has a 52-week low of $37.01 and a 52-week high of $56.99. The company has a 50 day moving average of $43.76 and a two-hundred day moving average of $43.81. The company has a market capitalization of $22.46 billion, a price-to-earnings ratio of 65.18 and a beta of 1.09.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.45 earnings per share (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 firm had revenue of $7.94 billion during the quarter, compared to analyst estimates of $7.88 billion. The firm’s revenue for the quarter was up 167.4% compared to the same quarter last year. As a group, analysts forecast that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, August 15th were given a dividend of $0.4308 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.0%. Smurfit Westrock’s dividend payout ratio (DPR) is presently 260.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Smurfit Westrock in a research report on Wednesday, October 8th. Barclays dropped their target price 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. Morgan Stanley increased their target price on shares of Smurfit Westrock from $51.00 to $53.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased their target price on shares of Smurfit Westrock from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Finally, UBS Group assumed coverage on shares of Smurfit Westrock in a research report on Monday, September 15th. They set a “buy” rating and a $60.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $57.90.

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.