Smurfit Westrock PLC $SW Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lessened its holdings in shares of Smurfit Westrock PLC (NYSE:SW) by 84.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 111,377 shares of the company’s stock after selling 616,810 shares during the period. Retirement Systems of Alabama’s holdings in Smurfit Westrock were worth $4,741,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Ethic Inc. raised its stake in Smurfit Westrock by 0.6% during the second quarter. Ethic Inc. now owns 41,103 shares of the company’s stock worth $1,770,000 after purchasing an additional 254 shares during the period. Legacy Wealth Asset Management LLC boosted its stake in Smurfit Westrock by 1.9% during the second quarter. Legacy Wealth Asset Management LLC now owns 13,551 shares of the company’s stock worth $585,000 after buying an additional 258 shares during the period. Benjamin Edwards Inc. boosted its position in shares of Smurfit Westrock by 4.1% during the 2nd quarter. Benjamin Edwards Inc. now owns 6,776 shares of the company’s stock worth $292,000 after purchasing an additional 264 shares during the period. AXA S.A. lifted its stake in Smurfit Westrock by 1.3% during the second quarter. AXA S.A. now owns 22,283 shares of the company’s stock worth $962,000 after purchasing an additional 285 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its position in shares of Smurfit Westrock by 12.6% during the second quarter. Penserra Capital Management LLC now owns 2,779 shares of the company’s stock worth $119,000 after buying an additional 312 shares during the period. Institutional investors and hedge funds own 83.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Smurfit Westrock in a research note on Thursday, January 8th. Argus decreased their price objective on Smurfit Westrock from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, December 9th. Truist Financial decreased their price objective on Smurfit Westrock from $50.00 to $49.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Citigroup dropped their price objective on shares of Smurfit Westrock from $49.00 to $48.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Finally, Wells Fargo & Company cut their target price on Smurfit Westrock from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Tuesday, January 6th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.60.

Smurfit Westrock Stock Performance

NYSE:SW opened at $41.60 on Friday. The firm’s fifty day simple moving average is $39.17 and its 200 day simple moving average is $41.37. The firm has a market capitalization of $21.72 billion, a price-to-earnings ratio of 29.09 and a beta of 1.09. Smurfit Westrock PLC has a twelve month low of $32.73 and a twelve month high of $55.54. The company has a current ratio of 1.48, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.10). Smurfit Westrock had a return on equity of 6.21% and a net margin of 2.40%.The company had revenue of $8 billion during the quarter, compared to the consensus estimate of $7.89 billion. The business’s revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts expect that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

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.