Sumitomo Mitsui Trust Group Inc. Acquires 18,536 Shares of Smurfit Westrock Ltd (NYSE:SW)

Sumitomo Mitsui Trust Group Inc. increased its stake in Smurfit Westrock Ltd (NYSE:SW) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,059,201 shares of the company’s stock after purchasing an additional 18,536 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Smurfit Westrock were worth $57,049,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SW. State Street Corp purchased a new stake in Smurfit Westrock in the third quarter worth about $967,582,000. Geode Capital Management LLC purchased a new stake in Smurfit Westrock in the 3rd quarter worth approximately $627,244,000. FMR LLC bought a new stake in Smurfit Westrock during the 3rd quarter worth approximately $431,653,000. Mizuho Securities USA LLC purchased a new position in Smurfit Westrock during the third quarter valued at approximately $386,712,000. Finally, Soros Fund Management LLC bought a new position in shares of Smurfit Westrock in the third quarter worth approximately $340,848,000. 83.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SW shares. Barclays raised their price objective 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. Argus began 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. Truist Financial initiated coverage on Smurfit Westrock in a research report on Tuesday, January 21st. They set a “buy” rating and a $62.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Finally, Morgan Stanley upped their price target on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note 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 currently has a consensus rating of “Moderate Buy” and an average target price of $60.70.

Insider Buying and Selling at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.49% of the stock is owned by company insiders.

Smurfit Westrock Stock Performance

NYSE:SW opened at $54.00 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The company has a market cap of $28.10 billion, a price-to-earnings ratio of 299.99 and a beta of 1.02. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99. The stock’s 50 day simple moving average is $53.70 and its two-hundred day simple moving average is $49.47.

Smurfit Westrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Investors of record on Friday, February 14th will be paid a dividend of $0.4308 per share. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 14th. This represents a $1.72 dividend on an annualized basis and a yield of 3.19%. Smurfit Westrock’s dividend payout ratio is presently 672.26%.

Smurfit Westrock 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.