Redmond Asset Management LLC Invests $773,000 in Smurfit Westrock PLC $SW

Redmond Asset Management LLC acquired a new position in Smurfit Westrock PLC (NYSE:SW) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 17,915 shares of the company’s stock, valued at approximately $773,000.

Other institutional investors also recently modified their holdings of the company. Czech National Bank increased its position in shares of Smurfit Westrock by 6.7% in the second quarter. Czech National Bank now owns 121,218 shares of the company’s stock worth $5,231,000 after purchasing an additional 7,657 shares during the last quarter. Centennial Wealth Advisory LLC bought a new position in shares of Smurfit Westrock in the second quarter worth approximately $481,000. Foresight Group Ltd Liability Partnership bought a new position in shares of Smurfit Westrock in the first quarter worth approximately $26,028,000. Allspring Global Investments Holdings LLC increased its position in shares of Smurfit Westrock by 5.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 23,177 shares of the company’s stock worth $1,063,000 after purchasing an additional 1,150 shares during the last quarter. Finally, Great Lakes Advisors LLC bought a new position in shares of Smurfit Westrock in the first quarter worth approximately $13,119,000. 83.38% of the stock is currently owned by institutional investors.

Smurfit Westrock Stock Down 0.9%

Shares of SW opened at $43.03 on Wednesday. The firm has a market cap of $22.47 billion, a P/E ratio of 65.19 and a beta of 1.09. The stock has a 50 day simple moving average of $43.77 and a two-hundred day simple moving average of $43.91. 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.

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

Analyst Ratings Changes

SW has been the topic of several research analyst reports. Wells Fargo & Company set a $52.00 price objective on shares of Smurfit Westrock and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Smurfit Westrock in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on Smurfit Westrock from $60.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Truist Financial upped their target price on Smurfit Westrock from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Finally, UBS Group assumed coverage on Smurfit Westrock in a research note on Monday, September 15th. They issued a “buy” rating and a $60.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $57.90.

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.