Weatherly Asset Management L. P. Sells 1,223 Shares of Smurfit Westrock Ltd (NYSE:SW)

Weatherly Asset Management L. P. reduced its position in Smurfit Westrock Ltd (NYSE:SW) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,623 shares of the company’s stock after selling 1,223 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Smurfit Westrock were worth $1,272,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AMF Tjanstepension AB acquired a new position in Smurfit Westrock during the third quarter worth $8,519,000. Mather Group LLC. acquired a new position in Smurfit Westrock during the third quarter worth $25,000. Atomi Financial Group Inc. acquired a new position in Smurfit Westrock during the third quarter worth $251,000. CWM LLC acquired a new stake in shares of Smurfit Westrock in the third quarter valued at $227,000. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Smurfit Westrock in the third quarter valued at $83,000. 83.38% of the stock is owned by institutional investors.

Smurfit Westrock Stock Down 0.9 %

NYSE:SW opened at $53.50 on Tuesday. The firm has a market capitalization of $27.84 billion, a price-to-earnings ratio of 297.22 and a beta of 1.02. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $56.99. The stock’s 50 day moving average price is $53.70 and its two-hundred day moving average price is $49.47. 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th will be given a dividend of $0.4308 per share. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.72 annualized dividend and a dividend yield of 3.22%. Smurfit Westrock’s payout ratio is 672.26%.

Insider Buying and Selling

In related news, insider Saverio Mayer sold 25,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was 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. This represents a 14.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.49% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SW. Barclays raised their target price on Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a research report on Friday, November 15th. Truist Financial began coverage on Smurfit Westrock in a research report on Tuesday, January 21st. They issued a “buy” rating and a $62.00 price objective for the company. Morgan Stanley lifted their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Citigroup raised their target price on Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.70.

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.