NewEdge Wealth LLC Increases Stock Holdings in Smurfit Westrock PLC $SW

NewEdge Wealth LLC boosted its holdings in Smurfit Westrock PLC (NYSE:SW) by 189.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,062 shares of the company’s stock after buying an additional 11,818 shares during the quarter. NewEdge Wealth LLC’s holdings in Smurfit Westrock were worth $769,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SW. TD Waterhouse Canada Inc. grew its holdings in Smurfit Westrock by 113.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 640 shares of the company’s stock valued at $27,000 after buying an additional 340 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of Smurfit Westrock in the second quarter worth approximately $29,000. Root Financial Partners LLC acquired a new stake in shares of Smurfit Westrock in the third quarter worth approximately $33,000. Rexford Capital Inc. purchased a new stake in Smurfit Westrock in the second quarter valued at approximately $35,000. Finally, Whipplewood Advisors LLC increased its position in Smurfit Westrock by 50.0% during the second quarter. Whipplewood Advisors LLC now owns 1,026 shares of the company’s stock worth $44,000 after purchasing an additional 342 shares during the last quarter. 83.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Smurfit Westrock

In other news, CEO Anthony P. J. Smurfit sold 40,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $51.54, for a total transaction of $2,061,600.00. Following the transaction, the chief executive officer directly owned 1,642,610 shares of the company’s stock, valued at approximately $84,660,119.40. The trade was a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ken Bowles sold 10,000 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $51.26, for a total transaction of $512,600.00. Following the completion of the transaction, the chief financial officer owned 151,644 shares of the company’s stock, valued at $7,773,271.44. This trade represents a 6.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.49% of the company’s stock.

Smurfit Westrock Stock Performance

NYSE:SW opened at $46.21 on Tuesday. The firm’s fifty day simple moving average is $42.77 and its 200 day simple moving average is $41.46. The company has a current ratio of 1.48, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73. Smurfit Westrock PLC has a twelve month low of $32.73 and a twelve month high of $54.00. The firm has a market capitalization of $24.14 billion, a price-to-earnings ratio of 34.74 and a beta of 1.09.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.12). The company had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.63 billion. Smurfit Westrock had a net margin of 2.24% and a return on equity of 6.10%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the business earned $0.28 earnings per share. As a group, equities research analysts expect that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Tuesday, February 17th will be given a dividend of $0.4523 per share. This is a boost from Smurfit Westrock’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $1.81 annualized dividend and a yield of 3.9%. Smurfit Westrock’s dividend payout ratio is presently 136.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SW shares. Truist Financial set a $60.00 price target on shares of Smurfit Westrock in a report on Thursday, February 12th. Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 target price on shares of Smurfit Westrock in a research report on Wednesday, February 18th. Argus lowered their price target on Smurfit Westrock from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, December 9th. Jefferies Financial Group set a $58.00 price target on Smurfit Westrock in a research note on Thursday, February 12th. Finally, Royal Bank Of Canada raised their price objective on Smurfit Westrock from $51.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.20.

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.