CIBC Asset Management Inc Purchases 8,615 Shares of Smurfit Westrock Ltd (NYSE:SW)

CIBC Asset Management Inc raised its position in shares of Smurfit Westrock Ltd (NYSE:SW) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,269 shares of the company’s stock after acquiring an additional 8,615 shares during the period. CIBC Asset Management Inc’s holdings in Smurfit Westrock were worth $4,377,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SW. AMF Tjanstepension AB bought a new stake in shares of Smurfit Westrock during the third quarter worth approximately $8,519,000. CWM LLC bought a new stake in shares of Smurfit Westrock during the third quarter worth approximately $227,000. Exchange Traded Concepts LLC bought a new stake in shares of Smurfit Westrock during the third quarter worth approximately $83,000. Creative Planning bought a new stake in shares of Smurfit Westrock during the third quarter worth approximately $824,000. Finally, OLD National Bancorp IN acquired a new stake in shares of Smurfit Westrock in the third quarter valued at approximately $270,000. Institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Stock Up 0.1 %

Shares of SW opened at $55.34 on Thursday. Smurfit Westrock Ltd has a one year low of $38.55 and a one year high of $56.99. The company has a market cap of $28.80 billion, a P/E ratio of 100.63 and a beta of 1.02. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $53.60 and a two-hundred day simple moving average of $49.90.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. Research analysts forecast that Smurfit Westrock Ltd will post 3.29 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.4308 per share. The ex-dividend date of this dividend is Friday, February 14th. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. This represents a $1.72 annualized dividend and a dividend yield of 3.11%. Smurfit Westrock’s dividend payout ratio is 312.73%.

Insider Transactions at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the transaction, the insider now directly owns 149,911 shares in the company, valued at approximately $8,221,119.24. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

SW has been the subject of a number of analyst reports. Argus initiated coverage on shares of Smurfit Westrock in a research report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price target for the company. Citigroup lifted their price target on shares of Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 price target on shares of Smurfit Westrock in a research report on Friday, November 15th. Finally, Barclays lifted their price target on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Smurfit Westrock currently has an average rating of “Moderate Buy” and a consensus target price of $60.70.

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.