Hartford Financial Management Inc. Makes New $596,000 Investment in Smurfit Westrock Ltd (NYSE:SW)

Hartford Financial Management Inc. bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,050 shares of the company’s stock, valued at approximately $596,000.

Other institutional investors have also recently made changes to their positions in the company. Forsta AP Fonden purchased a new stake in shares of Smurfit Westrock during the third quarter worth $5,476,000. Adams Natural Resources Fund Inc. purchased a new stake in shares of Smurfit Westrock during the third quarter worth $2,041,000. Clarius Group LLC purchased a new stake in shares of Smurfit Westrock during the third quarter worth $218,000. Bank Pictet & Cie Europe AG purchased a new stake in shares of Smurfit Westrock in the third quarter worth $1,480,000. Finally, Diversified Trust Co purchased a new stake in shares of Smurfit Westrock in the third quarter worth $670,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Morgan Stanley assumed coverage on Smurfit Westrock in a research report on Friday, July 19th. They issued an “overweight” rating and a $60.00 price objective on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $52.00 price objective on shares of Smurfit Westrock in a research report on Monday, July 29th. JPMorgan Chase & Co. lowered their price objective on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Royal Bank of Canada upgraded Smurfit Westrock from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $52.00 to $58.00 in a research report on Thursday. Finally, Redburn Atlantic began coverage on Smurfit Westrock in a research report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.43.

Smurfit Westrock Stock Up 2.9 %

NYSE SW opened at $51.50 on Friday. The company’s 50-day moving average price is $46.40. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $52.76. The company has a quick ratio of 2.18, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $26.75 billion, a P/E ratio of 286.13 and a beta of 1.05.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). Smurfit Westrock had a negative net margin of 0.12% and a positive return on equity of 5.98%. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $7.91 billion. On average, equities analysts expect that Smurfit Westrock Ltd will post 2.6 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.3025 per share. The ex-dividend date is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.35%. Smurfit Westrock’s dividend payout ratio (DPR) is currently 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.