Investment Management Corp of Ontario Takes $852,000 Position in Smurfit Westrock Ltd (NYSE:SW)

Investment Management Corp of Ontario acquired a new position in Smurfit Westrock Ltd (NYSE:SW) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 17,240 shares of the company’s stock, valued at approximately $852,000.

Other large investors have also modified their holdings of the company. Mather Group LLC. acquired a new stake in Smurfit Westrock in the 3rd quarter valued at approximately $25,000. CVA Family Office LLC acquired a new position in shares of Smurfit Westrock during the third quarter worth approximately $26,000. ORG Wealth Partners LLC bought a new stake in shares of Smurfit Westrock in the third quarter valued at approximately $32,000. Waldron Private Wealth LLC acquired a new stake in shares of Smurfit Westrock in the third quarter worth $35,000. Finally, Cromwell Holdings LLC bought a new position in Smurfit Westrock during the third quarter worth $42,000. 83.38% of the stock is owned by institutional investors.

Insider Buying and Selling at Smurfit Westrock

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following the transaction, the insider now directly owns 149,911 shares in the company, valued at $8,221,119.24. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.49% of the company’s stock.

Smurfit Westrock Trading Down 0.3 %

NYSE SW opened at $54.60 on Friday. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $56.99. The firm has a market capitalization of $28.40 billion, a P/E ratio of 303.35 and a beta of 1.04. The firm’s 50 day moving average is $50.13. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is 672.26%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SW shares. Wells Fargo & Company reduced their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. JPMorgan Chase & Co. increased their target price on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Morgan Stanley boosted their price target on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Argus started coverage on Smurfit Westrock in a research report on Thursday. They issued a “buy” rating and a $62.00 price objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $58.00 price objective on shares of Smurfit Westrock in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Smurfit Westrock presently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

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.