State of Alaska Department of Revenue Reduces Holdings in Smurfit Westrock Ltd (NYSE:SW)

State of Alaska Department of Revenue decreased its holdings in Smurfit Westrock Ltd (NYSE:SW) by 1.7% during the 4th quarter, HoldingsChannel reports. The fund owned 56,339 shares of the company’s stock after selling 975 shares during the quarter. State of Alaska Department of Revenue’s holdings in Smurfit Westrock were worth $3,034,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in SW. Alpha Omega Wealth Management LLC bought a new position in Smurfit Westrock during the 4th quarter worth approximately $5,252,000. Private Management Group Inc. bought a new position in Smurfit Westrock in the third quarter worth about $9,405,000. Intech Investment Management LLC acquired a new position in Smurfit Westrock in the third quarter valued at approximately $597,000. Moors & Cabot Inc. bought a new position in shares of Smurfit Westrock during the third quarter valued at approximately $520,000. Finally, Citigroup Inc. acquired a new stake in shares of Smurfit Westrock during the 3rd quarter worth approximately $77,207,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. 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. Citigroup upped their price target on shares of Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Morgan Stanley increased their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Argus started coverage on shares of Smurfit Westrock in a research note on Thursday, December 5th. They set a “buy” rating and a $62.00 target price for the company. Finally, Truist Financial assumed coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They issued a “buy” rating and a $62.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.70.

Smurfit Westrock Stock Down 1.6 %

SW stock opened at $54.00 on Monday. The firm’s 50-day moving average is $53.70 and its two-hundred day moving average is $49.47. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $28.10 billion, a price-to-earnings ratio of 299.99 and a beta of 1.02. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99.

Smurfit Westrock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th will be given a $0.4308 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.19%. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 14th. Smurfit Westrock’s dividend payout ratio is 672.26%.

Insider Buying and Selling at Smurfit Westrock

In other news, insider Saverio Mayer sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the completion of the transaction, the insider now owns 149,911 shares in the company, valued at approximately $8,221,119.24. This trade represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.49% of the stock is currently owned by corporate insiders.

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.