State of Alaska Department of Revenue Decreases Stock Holdings in Smurfit Westrock Ltd (NYSE:SW)

State of Alaska Department of Revenue cut its stake in Smurfit Westrock Ltd (NYSE:SW) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,339 shares of the company’s stock after selling 975 shares during the period. State of Alaska Department of Revenue’s holdings in Smurfit Westrock were worth $3,034,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Smurfit Westrock by 29.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,487 shares of the company’s stock worth $2,309,000 after buying an additional 9,581 shares in the last quarter. Old North State Wealth Management LLC raised its position in Smurfit Westrock by 1.0% during the fourth quarter. Old North State Wealth Management LLC now owns 77,437 shares of the company’s stock worth $4,174,000 after acquiring an additional 786 shares during the last quarter. Mather Group LLC. raised its position in shares of Smurfit Westrock by 116.9% during the 4th quarter. Mather Group LLC. now owns 1,076 shares of the company’s stock worth $58,000 after purchasing an additional 580 shares during the last quarter. abrdn plc grew its holdings in Smurfit Westrock by 31.1% during the 4th quarter. abrdn plc now owns 70,801 shares of the company’s stock valued at $3,818,000 after buying an additional 16,790 shares during the last quarter. Finally, Spire Wealth Management purchased a new position in Smurfit Westrock during the fourth quarter worth $36,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Stock Performance

NYSE:SW opened at $54.00 on Monday. The company has a market cap of $28.10 billion, a P/E ratio of 299.99 and a beta of 1.02. The firm’s 50 day moving average is $53.70 and its two-hundred day moving average is $49.47. Smurfit Westrock Ltd has a fifty-two week low of $38.55 and a fifty-two week high of $56.99. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73.

Smurfit Westrock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 14th will be given a $0.4308 dividend. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. This represents a $1.72 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, February 14th. Smurfit Westrock’s dividend payout ratio (DPR) is 672.26%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SW. Argus assumed coverage on Smurfit Westrock in a research report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price objective on the stock. Barclays upped their target price on shares of Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Truist Financial began coverage on shares of Smurfit Westrock in a report on Tuesday, January 21st. They set a “buy” rating and a $62.00 price target for the company. Citigroup raised their target price on shares of Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Morgan Stanley boosted their price target on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.70.

Insider Activity at Smurfit Westrock

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 149,911 shares in the company, valued at $8,221,119.24. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is owned by insiders.

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.