Smurfit Westrock Ltd (NYSE:SW) Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. trimmed its stake in shares of Smurfit Westrock Ltd (NYSE:SW) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 586,932 shares of the company’s stock after selling 2,732 shares during the quarter. Smurfit Westrock comprises 1.0% of Salem Investment Counselors Inc.’s investment portfolio, making the stock its 17th biggest holding. Salem Investment Counselors Inc. owned 0.11% of Smurfit Westrock worth $31,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Mather Group LLC. purchased a new position in Smurfit Westrock in the 3rd quarter valued at approximately $25,000. Versant Capital Management Inc purchased a new position in Smurfit Westrock in the 4th quarter valued at approximately $27,000. CVA Family Office LLC purchased a new position in Smurfit Westrock during the third quarter worth $26,000. ORG Wealth Partners LLC purchased a new position in Smurfit Westrock during the third quarter worth $32,000. Finally, Waldron Private Wealth LLC purchased a new position in Smurfit Westrock during the third quarter worth $35,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 stock was sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the transaction, the insider now 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.49% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on SW shares. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research report on Friday, November 15th. Citigroup raised their price target on Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their price target on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Morgan Stanley raised their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Finally, Argus assumed coverage on Smurfit Westrock in a report on Thursday, December 5th. They set a “buy” rating and a $62.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Smurfit Westrock presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.56.

Smurfit Westrock Stock Performance

Smurfit Westrock stock traded up $0.12 during midday trading on Monday, reaching $51.89. The stock had a trading volume of 575,337 shares, compared to its average volume of 2,487,617. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $56.99. The stock has a market capitalization of $26.99 billion, a PE ratio of 288.29 and a beta of 1.03. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The firm has a 50-day moving average price of $53.55.

Smurfit Westrock Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Friday, November 15th were issued a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Friday, November 15th. Smurfit Westrock’s payout ratio is currently 672.22%.

Smurfit Westrock 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.