Insider Selling: Smurfit Westrock Ltd (NYSE:SW) Insider Sells 491 Shares of Stock

Smurfit Westrock Ltd (NYSE:SW) insider Jairo Lorenzatto sold 491 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $48.44, for a total value of $23,784.04. Following the completion of the sale, the insider now owns 19,033 shares of the company’s stock, valued at $921,958.52. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Smurfit Westrock Stock Up 2.6 %

Shares of SW traded up $1.32 during mid-day trading on Friday, hitting $52.50. 2,296,563 shares of the company’s stock traded hands, compared to its average volume of 4,871,775. The business has a 50-day simple moving average of $51.26. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99. The stock has a market cap of $27.31 billion, a price-to-earnings ratio of 291.68 and a beta of 1.04. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73.

Smurfit Westrock Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th were given a $0.3025 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.21 annualized dividend and a dividend yield of 2.30%. Smurfit Westrock’s dividend payout ratio is 672.22%.

Hedge Funds Weigh In On Smurfit Westrock

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. purchased a new position in Smurfit Westrock during the third quarter valued at $29,716,000. Retirement Systems of Alabama purchased a new position in Smurfit Westrock during the 3rd quarter valued at about $36,861,000. Franklin Resources Inc. bought a new stake in Smurfit Westrock during the third quarter worth about $198,258,000. Synovus Financial Corp purchased a new stake in Smurfit Westrock in the third quarter worth about $858,000. Finally, Tidal Investments LLC bought a new position in shares of Smurfit Westrock during the third quarter valued at approximately $1,681,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Analysts Set New Price Targets

SW has been the topic of a number of analyst reports. Barclays lifted their target price on shares of Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a report on Friday, November 15th. JPMorgan Chase & Co. increased their target price on Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Morgan Stanley lifted 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, November 14th. Finally, Citigroup began coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.00.

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.