Patten Group Inc. Sells 1,151 Shares of Smurfit Westrock PLC $SW

Patten Group Inc. cut its holdings in shares of Smurfit Westrock PLC (NYSE:SW) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,530 shares of the company’s stock after selling 1,151 shares during the period. Patten Group Inc.’s holdings in Smurfit Westrock were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SW. Zions Bancorporation National Association UT bought a new position in Smurfit Westrock during the first quarter worth about $29,000. Tsfg LLC bought a new position in Smurfit Westrock during the first quarter worth about $30,000. IMA Advisory Services Inc. bought a new position in Smurfit Westrock during the first quarter worth about $30,000. Smallwood Wealth Investment Management LLC bought a new position in Smurfit Westrock during the first quarter worth about $40,000. Finally, SVB Wealth LLC bought a new position in Smurfit Westrock during the first quarter worth about $49,000. 83.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on SW shares. Barclays cut their price target on Smurfit Westrock from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, June 30th. UBS Group initiated coverage on Smurfit Westrock in a research report on Monday, September 15th. They set a “buy” rating and a $60.00 price target on the stock. Seaport Res Ptn raised Smurfit Westrock from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smurfit Westrock in a research report on Wednesday, October 8th. Finally, Truist Financial upped their target price on Smurfit Westrock from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $57.90.

Smurfit Westrock Stock Up 0.3%

NYSE SW opened at $42.64 on Thursday. Smurfit Westrock PLC has a fifty-two week low of $37.01 and a fifty-two week high of $56.99. The stock has a market capitalization of $22.26 billion, a PE ratio of 64.60 and a beta of 1.09. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.45 and a quick ratio of 0.95. The business has a fifty day moving average price of $43.77 and a two-hundred day moving average price of $43.78.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.45 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $7.88 billion. The company’s revenue for the quarter was up 167.4% on a year-over-year basis. Equities analysts expect that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

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

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.