Retirement Systems of Alabama Has $40.24 Million Stake in Smurfit Westrock Ltd (NYSE:SW)

Retirement Systems of Alabama grew its stake in shares of Smurfit Westrock Ltd (NYSE:SW) by 0.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 747,037 shares of the company’s stock after buying an additional 1,168 shares during the period. Retirement Systems of Alabama owned approximately 0.14% of Smurfit Westrock worth $40,235,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SW. Retirement Wealth Solutions LLC acquired a new position in Smurfit Westrock in the 4th quarter valued at approximately $25,000. Mather Group LLC. bought a new stake in shares of Smurfit Westrock during the third quarter valued at approximately $25,000. Versant Capital Management Inc acquired a new position in shares of Smurfit Westrock in the fourth quarter valued at $27,000. MassMutual Private Wealth & Trust FSB lifted its position in Smurfit Westrock by 117.7% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock worth $28,000 after purchasing an additional 279 shares during the period. Finally, CVA Family Office LLC acquired a new stake in Smurfit Westrock during the third quarter worth $26,000. Institutional investors own 83.38% of the company’s stock.

Insiders Place Their Bets

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the firm’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 approximately $8,221,119.24. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Truist Financial initiated coverage on Smurfit Westrock in a report on Tuesday, January 21st. They issued a “buy” rating and a $62.00 target price for the company. Citigroup boosted their price target on Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Argus initiated coverage on Smurfit Westrock in a research note on Thursday, December 5th. They set a “buy” rating and a $62.00 price objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Smurfit Westrock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.70.

Smurfit Westrock Stock Performance

Smurfit Westrock stock opened at $54.52 on Thursday. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99. The company’s 50-day moving average is $53.72 and its two-hundred day moving average is $49.35. 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 $28.36 billion, a PE ratio of 302.88 and a beta of 1.02.

Smurfit Westrock Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Friday, February 14th. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. Smurfit Westrock’s payout ratio is currently 672.26%.

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.