Private Management Group Inc. Has $9.89 Million Stock Position in Smurfit Westrock Ltd (NYSE:SW)

Private Management Group Inc. cut its stake in shares of Smurfit Westrock Ltd (NYSE:SW) by 3.5% in the fourth quarter, Holdings Channel reports. The firm owned 183,603 shares of the company’s stock after selling 6,699 shares during the quarter. Private Management Group Inc.’s holdings in Smurfit Westrock were worth $9,889,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in Smurfit Westrock by 117.7% during the fourth 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 last quarter. DAVENPORT & Co LLC boosted its stake in 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 acquiring an additional 299 shares during the last quarter. Contravisory Investment Management Inc. grew its holdings in Smurfit Westrock by 2.6% during the fourth quarter. Contravisory Investment Management Inc. now owns 14,189 shares of the company’s stock valued at $764,000 after purchasing an additional 365 shares during the period. Retirement Wealth Solutions LLC bought a new stake in Smurfit Westrock in the fourth quarter valued at approximately $25,000. Finally, Mather Group LLC. acquired a new stake in Smurfit Westrock in the third quarter worth $25,000. Institutional investors own 83.38% of the company’s stock.

Wall Street Analyst Weigh In

SW has been the subject of a number of research analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $58.00 target price on shares of Smurfit Westrock in a research note on Friday, November 15th. Barclays boosted their price objective on Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Morgan Stanley raised their target price on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Argus started coverage on shares of Smurfit Westrock in a report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price target for the company. Finally, Truist Financial started coverage on shares of Smurfit Westrock in a report on Tuesday, January 21st. They set a “buy” rating and a $62.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.70.

Smurfit Westrock Stock Up 1.2 %

Smurfit Westrock stock opened at $54.52 on Thursday. The company has a fifty day simple moving average of $53.72 and a 200 day simple moving average of $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. Smurfit Westrock Ltd has a 1-year low of $38.55 and a 1-year high of $56.99. The company has a market cap of $28.36 billion, a P/E ratio of 302.88 and a beta of 1.02.

Smurfit Westrock Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be issued a $0.4308 dividend. This is a boost from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, February 14th. This represents a $1.72 annualized dividend and a dividend yield of 3.16%. Smurfit Westrock’s dividend payout ratio (DPR) is presently 672.26%.

Insider Activity at Smurfit Westrock

In related news, insider Saverio Mayer sold 25,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $54.84, for a total value of $1,371,000.00. Following the completion of the transaction, the insider now directly owns 149,911 shares of the company’s stock, valued at approximately $8,221,119.24. This trade represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.49% of the stock is owned by company insiders.

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.