Smurfit Westrock Ltd (NYSE:SW) Shares Sold by Patten & Patten Inc. TN

Patten & Patten Inc. TN cut its stake in shares of Smurfit Westrock Ltd (NYSE:SW) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 982,190 shares of the company’s stock after selling 20,203 shares during the quarter. Smurfit Westrock accounts for approximately 3.5% of Patten & Patten Inc. TN’s holdings, making the stock its 3rd biggest position. Patten & Patten Inc. TN owned approximately 0.19% of Smurfit Westrock worth $52,901,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Alpha Omega Wealth Management LLC purchased a new position in Smurfit Westrock in the fourth quarter worth $5,252,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Smurfit Westrock by 29.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 42,487 shares of the company’s stock valued at $2,309,000 after buying an additional 9,581 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Smurfit Westrock in the third quarter valued at $597,000. Moors & Cabot Inc. purchased a new position in shares of Smurfit Westrock in the third quarter valued at $520,000. Finally, Citigroup Inc. purchased a new position in shares of Smurfit Westrock in the third quarter valued at $77,207,000. 83.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SW shares. JPMorgan Chase & Co. raised their price target on Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Argus started coverage on Smurfit Westrock in a research report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price target for the company. Barclays raised their price target on Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Truist Financial initiated coverage on Smurfit Westrock in a research report on Tuesday, January 21st. They issued a “buy” rating and a $62.00 price target for the company. Finally, Citigroup boosted their target price on shares of Smurfit Westrock from $61.00 to $62.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Smurfit Westrock has an average rating of “Moderate Buy” and a consensus target price of $60.70.

Insider Transactions at Smurfit Westrock

In other Smurfit Westrock news, insider Alvaro Henao sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $53.90, for a total value of $215,600.00. Following the completion of the transaction, the insider now owns 44,361 shares in the company, valued at $2,391,057.90. This represents a 8.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ken Bowles sold 24,225 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $55.06, for a total value of $1,333,828.50. Following the completion of the transaction, the insider now owns 111,458 shares of the company’s stock, valued at approximately $6,136,877.48. This represents a 17.85 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Smurfit Westrock Stock Up 1.9 %

SW opened at $44.26 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.37 and a quick ratio of 0.89. The stock has a market capitalization of $23.10 billion, a price-to-earnings ratio of 80.47 and a beta of 0.99. The business has a 50-day moving average of $51.96 and a two-hundred day moving average of $50.68. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month high of $56.99.

Smurfit Westrock (NYSE:SW) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. On average, research analysts expect that Smurfit Westrock Ltd will post 3.25 earnings per share for the current year.

Smurfit Westrock Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.4308 per share. The ex-dividend date is Friday, February 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.89%. This is a boost from Smurfit Westrock’s previous quarterly dividend of $0.30. Smurfit Westrock’s payout ratio is presently 312.73%.

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.