Icon Wealth Advisors LLC Takes Position in Smurfit Westrock Ltd (NYSE:SW)

Icon Wealth Advisors LLC bought a new position in Smurfit Westrock Ltd (NYSE:SW) during the third quarter, Holdings Channel reports. The firm bought 12,246 shares of the company’s stock, valued at approximately $605,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SW. Private Management Group Inc. bought a new stake in Smurfit Westrock during the 3rd quarter worth approximately $9,405,000. Catalytic Wealth RIA LLC purchased a new position in shares of Smurfit Westrock during the third quarter valued at approximately $520,000. M&G PLC bought a new stake in Smurfit Westrock during the third quarter worth $9,253,000. Swiss National Bank purchased a new stake in Smurfit Westrock in the 3rd quarter valued at $76,082,000. Finally, Nisa Investment Advisors LLC purchased a new stake in Smurfit Westrock in the 3rd quarter valued at $542,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SW. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research note on Friday, November 15th. Wells Fargo & Company reduced their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. decreased their price objective on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Redburn Atlantic started coverage on Smurfit Westrock in a research note on Friday, August 23rd. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $52.00 price target on shares of Smurfit Westrock in a research report on Monday, July 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Smurfit Westrock Stock Up 0.5 %

Shares of SW stock opened at $56.64 on Friday. Smurfit Westrock Ltd has a 12-month low of $38.55 and a 12-month high of $56.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The business’s 50 day moving average is $48.72. The stock has a market cap of $29.46 billion, a price-to-earnings ratio of 314.67 and a beta of 1.04.

Smurfit Westrock Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, November 15th. This represents a $1.21 annualized dividend and a dividend yield of 2.14%. Smurfit Westrock’s payout ratio is presently 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.