Handelsbanken Fonder AB Takes $7.11 Million Position in Smurfit Westrock Ltd (NYSE:SW)

Handelsbanken Fonder AB acquired a new stake in Smurfit Westrock Ltd (NYSE:SW) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 132,000 shares of the company’s stock, valued at approximately $7,110,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Stephens Inc. AR boosted its holdings in shares of Smurfit Westrock by 3.7% during the 4th quarter. Stephens Inc. AR now owns 5,616 shares of the company’s stock worth $302,000 after buying an additional 199 shares during the period. Principal Securities Inc. boosted its holdings in shares of Smurfit Westrock by 49.1% during the 4th quarter. Principal Securities Inc. now owns 695 shares of the company’s stock worth $37,000 after buying an additional 229 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Smurfit Westrock by 117.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 516 shares of the company’s stock worth $28,000 after buying an additional 279 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of Smurfit Westrock by 0.5% during the 4th quarter. DAVENPORT & Co LLC now owns 55,898 shares of the company’s stock worth $3,011,000 after buying an additional 299 shares during the period. Finally, Contravisory Investment Management Inc. boosted its holdings in shares of Smurfit Westrock by 2.6% during the 4th quarter. Contravisory Investment Management Inc. now owns 14,189 shares of the company’s stock worth $764,000 after buying an additional 365 shares during the period. Institutional investors own 83.38% of the company’s stock.

Insider Buying and Selling

In related news, insider Saverio Mayer sold 25,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 149,911 shares in the company, valued at $8,221,119.24. This represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ken Bowles sold 24,225 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the sale, the insider now directly owns 111,458 shares in the company, valued at $6,136,877.48. The trade was a 17.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.49% of the stock is owned by corporate insiders.

Smurfit Westrock Price Performance

Shares of NYSE:SW opened at $53.17 on Friday. The firm has a 50 day moving average of $53.60 and a 200-day moving average of $50.02. The stock has a market capitalization of $27.67 billion, a PE ratio of 96.67 and a beta of 1.02. The company has a current ratio of 1.37, a quick ratio of 0.89 and a debt-to-equity ratio of 0.72. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $56.99.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. On average, equities research analysts predict that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be given a $0.4308 dividend. The ex-dividend date is Friday, February 14th. This is a boost from Smurfit Westrock’s previous quarterly dividend of $0.30. This represents a $1.72 annualized dividend and a dividend yield of 3.24%. Smurfit Westrock’s payout ratio is presently 312.73%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SW shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $58.00 target price on shares of Smurfit Westrock in a report on Friday, November 15th. JPMorgan Chase & Co. lifted their target price 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. Barclays lifted their price objective on shares of Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Truist Financial started coverage on shares of Smurfit Westrock in a research note on Tuesday, January 21st. They issued a “buy” rating and a $62.00 price objective for the company. Finally, Argus started coverage on shares of Smurfit Westrock in a research note on Thursday, December 5th. They issued a “buy” rating and a $62.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.70.

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.