Redwood Grove Capital LLC Purchases 38,000 Shares of Smurfit Westrock PLC $SW

Redwood Grove Capital LLC grew its position in shares of Smurfit Westrock PLC (NYSE:SW) by 9.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 449,636 shares of the company’s stock after buying an additional 38,000 shares during the quarter. Smurfit Westrock comprises about 5.8% of Redwood Grove Capital LLC’s investment portfolio, making the stock its 6th largest position. Redwood Grove Capital LLC’s holdings in Smurfit Westrock were worth $17,918,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. CYBER HORNET ETFs LLC bought a new stake in shares of Smurfit Westrock in the 2nd quarter valued at approximately $29,000. DV Equities LLC bought a new position in Smurfit Westrock during the fourth quarter worth $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Smurfit Westrock during the fourth quarter worth $28,000. Root Financial Partners LLC boosted its holdings in Smurfit Westrock by 187.6% in the first quarter. Root Financial Partners LLC now owns 768 shares of the company’s stock worth $31,000 after purchasing an additional 501 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Smurfit Westrock in the fourth quarter worth $31,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Smurfit Westrock Price Performance

Shares of SW opened at $50.79 on Wednesday. The company has a market cap of $26.64 billion, a P/E ratio of 70.55, a PEG ratio of 0.83 and a beta of 0.95. The stock has a fifty day moving average price of $43.45 and a 200 day moving average price of $42.76. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.44 and a quick ratio of 0.95. Smurfit Westrock PLC has a 12 month low of $32.73 and a 12 month high of $52.65.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Thursday, April 30th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.57 billion. Smurfit Westrock had a return on equity of 4.96% and a net margin of 1.22%.Smurfit Westrock’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 earnings per share. On average, research analysts forecast that Smurfit Westrock PLC will post 2.24 earnings per share for the current year.

Smurfit Westrock Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $0.4523 per share. The ex-dividend date was Friday, May 15th. This represents a $1.81 annualized dividend and a dividend yield of 3.6%. Smurfit Westrock’s dividend payout ratio is currently 251.39%.

Wall Street Analysts Forecast Growth

SW has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Smurfit Westrock from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. JPMorgan Chase & Co. raised their price target on shares of Smurfit Westrock from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday. UBS Group decreased their price target on shares of Smurfit Westrock from $60.00 to $56.00 and set a “buy” rating for the company in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Smurfit Westrock in a research report on Tuesday, June 23rd. They set a “buy” rating and a $57.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of Smurfit Westrock from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.54.

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.