Mizuho Securities USA LLC Makes New Investment in Smurfit Westrock Ltd (NYSE:SW)

Mizuho Securities USA LLC bought a new position in Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 7,825,000 shares of the company’s stock, valued at approximately $386,712,000. Smurfit Westrock makes up about 1.0% of Mizuho Securities USA LLC’s investment portfolio, making the stock its 16th biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vontobel Holding Ltd. purchased a new stake in shares of Smurfit Westrock during the 3rd quarter valued at about $62,832,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Smurfit Westrock during the third quarter worth about $51,430,000. Patten & Patten Inc. TN bought a new stake in Smurfit Westrock during the 3rd quarter valued at approximately $49,538,000. Compagnie Lombard Odier SCmA purchased a new position in Smurfit Westrock in the 3rd quarter worth approximately $39,627,000. Finally, Principal Financial Group Inc. bought a new position in Smurfit Westrock in the 3rd quarter worth approximately $29,716,000. 83.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SW. Redburn Atlantic assumed coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective on the stock. Wells Fargo & Company reduced their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research note on Friday. Morgan Stanley upped their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $52.00 target price on shares of Smurfit Westrock in a report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.00.

Smurfit Westrock Price Performance

Shares of NYSE SW opened at $51.66 on Friday. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $54.32. The stock’s fifty day moving average is $47.63. The stock has a market cap of $26.87 billion, a PE ratio of 287.02 and a beta of 1.04. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is currently 672.26%.

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.