The Manufacturers Life Insurance Company Takes $19.81 Million Position in Smurfit Westrock Ltd (NYSE:SW)

The Manufacturers Life Insurance Company bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the third quarter, Holdings Channel.com reports. The fund bought 399,973 shares of the company’s stock, valued at approximately $19,812,000.

A number of other large investors have also added to or reduced their stakes in SW. AMF Tjanstepension AB acquired a new position in shares of Smurfit Westrock in the third quarter valued at $8,519,000. Czech National Bank acquired a new position in Smurfit Westrock in the 3rd quarter valued at about $4,967,000. SG Americas Securities LLC bought a new position in Smurfit Westrock in the 3rd quarter valued at about $843,000. Park Avenue Securities LLC acquired a new stake in Smurfit Westrock during the third quarter worth approximately $561,000. Finally, GAMMA Investing LLC bought a new stake in shares of Smurfit Westrock during the third quarter worth approximately $249,000. Institutional investors own 83.38% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SW shares. Morgan Stanley increased their target price on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Wells Fargo & Company dropped their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and issued a $58.00 price target on shares of Smurfit Westrock in a research note on Friday, November 15th. JPMorgan Chase & Co. lifted their price objective on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Redburn Atlantic began coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They set a “buy” rating and a $60.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.57.

Smurfit Westrock Trading Up 0.5 %

Smurfit Westrock stock opened at $55.02 on Friday. The company has a market capitalization of $28.62 billion, a P/E ratio of 305.68 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. The company has a 50-day moving average price of $49.48. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $56.99.

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 given a $0.3025 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.20%. Smurfit Westrock’s dividend payout ratio (DPR) is currently 672.26%.

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.