Vestcor Inc Acquires Shares of 10,313 Smurfit Westrock Ltd (NYSE:SW)

Vestcor Inc bought a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to its most recent filing with the SEC. The fund bought 10,313 shares of the company’s stock, valued at approximately $510,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mather Group LLC. bought a new position in shares of Smurfit Westrock during the 3rd quarter worth $25,000. CVA Family Office LLC purchased a new stake in Smurfit Westrock during the third quarter valued at about $26,000. ORG Wealth Partners LLC bought a new position in Smurfit Westrock during the third quarter worth about $32,000. Waldron Private Wealth LLC purchased a new position in shares of Smurfit Westrock in the third quarter worth about $35,000. Finally, Cromwell Holdings LLC bought a new stake in shares of Smurfit Westrock in the third quarter valued at approximately $42,000. 83.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Saverio Mayer sold 25,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $8,221,119.24. This represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SW shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a research note on Friday, November 15th. Citigroup assumed coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They set a “buy” rating and a $57.00 price objective on the stock. Argus assumed coverage on Smurfit Westrock in a report on Thursday, December 5th. They set a “buy” rating and a $62.00 price objective on the stock. JPMorgan Chase & Co. lifted 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. Finally, Wells Fargo & Company lowered their price target on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Smurfit Westrock has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Smurfit Westrock Stock Up 0.5 %

Shares of NYSE:SW opened at $53.73 on Friday. 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 stock has a market cap of $27.95 billion, a PE ratio of 298.47 and a beta of 1.04. The stock has a fifty day simple moving average of $50.57. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99.

Smurfit Westrock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be given a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 annualized dividend and a yield of 2.25%. Smurfit Westrock’s payout ratio is currently 672.22%.

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.