1,040,665 Shares in Smurfit Westrock Ltd (NYSE:SW) Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. acquired a new position in Smurfit Westrock Ltd (NYSE:SW) in the 3rd quarter, Holdings Channel reports. The firm acquired 1,040,665 shares of the company’s stock, valued at approximately $51,430,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vontobel Holding Ltd. purchased a new position in Smurfit Westrock in the third quarter worth approximately $62,832,000. Patten & Patten Inc. TN purchased a new position in Smurfit Westrock in the third quarter worth approximately $49,538,000. Compagnie Lombard Odier SCmA acquired a new position in Smurfit Westrock during the third quarter worth $39,627,000. Principal Financial Group Inc. acquired a new position in Smurfit Westrock during the third quarter worth $29,716,000. Finally, New York State Common Retirement Fund acquired a new position in Smurfit Westrock during the third quarter worth $22,299,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Smurfit Westrock Trading Up 3.2 %

Shares of NYSE SW opened at $51.66 on Friday. The firm has a market capitalization of $26.87 billion, a PE ratio of 287.00 and a beta of 1.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. Smurfit Westrock Ltd has a 12-month low of $38.55 and a 12-month high of $54.32. The company has a fifty day moving average of $47.49.

Smurfit Westrock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid a $0.3025 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is presently 672.22%.

Analysts Set New Price Targets

A number of research analysts have commented on SW shares. Royal Bank of Canada restated an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a research note on Friday. Redburn Atlantic started coverage on Smurfit Westrock in a research note on Friday, August 23rd. They set a “buy” rating and a $60.00 price target on the stock. Morgan Stanley upped their price target on Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Company decreased their price target on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. Finally, Jefferies Financial Group restated a “hold” rating and set a $52.00 price target on shares of Smurfit Westrock in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $58.00.

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.