Zurich Insurance Group Ltd FI Makes New $65.54 Million Investment in Smurfit Westrock Ltd (NYSE:SW)

Zurich Insurance Group Ltd FI bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 1,315,084 shares of the company’s stock, valued at approximately $65,536,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SW. Mather Group LLC. acquired a new position in Smurfit Westrock in the 3rd quarter worth about $25,000. CVA Family Office LLC bought a new stake in Smurfit Westrock during the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new position in Smurfit Westrock in the 3rd quarter valued at approximately $32,000. Waldron Private Wealth LLC bought a new position in shares of Smurfit Westrock during the third quarter valued at $35,000. Finally, Cromwell Holdings LLC acquired a new position in shares of Smurfit Westrock during the third quarter worth $42,000. Institutional investors own 83.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SW shares. Citigroup began coverage on Smurfit Westrock in a research report on Wednesday, October 23rd. They set a “buy” rating and a $57.00 target price for the company. Argus started coverage on shares of Smurfit Westrock in a report on Thursday. They issued a “buy” rating and a $62.00 target price on the stock. Redburn Atlantic assumed coverage on Smurfit Westrock in a report on Friday, August 23rd. They set a “buy” rating and a $60.00 price target on the stock. Wells Fargo & Company reduced their target price on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Smurfit Westrock presently has a consensus rating of “Moderate Buy” and an average price target of $59.00.

Smurfit Westrock Trading Down 0.3 %

Shares of NYSE:SW opened at $54.60 on Friday. 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 cap of $28.40 billion, a PE ratio of 303.35 and a beta of 1.04. The company’s fifty day moving average is $50.13. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $56.99.

Smurfit Westrock Dividend Announcement

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

Insiders Place Their Bets

In related 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 of the company’s stock, valued at approximately $8,221,119.24. The trade was a 14.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.49% of the stock is currently owned by 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.