Smurfit Westrock Ltd (NYSE:SW) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in Smurfit Westrock Ltd (NYSE:SW) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,165 shares of the company’s stock after selling 5,513 shares during the period. Corebridge Financial Inc.’s holdings in Smurfit Westrock were worth $6,311,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans acquired a new stake in shares of Smurfit Westrock in the 3rd quarter valued at approximately $957,000. Intech Investment Management LLC purchased a new position in Smurfit Westrock in the third quarter worth $597,000. Cerity Partners LLC acquired a new stake in Smurfit Westrock in the third quarter valued at $1,124,000. Independent Advisor Alliance purchased a new stake in shares of Smurfit Westrock during the 3rd quarter worth $301,000. Finally, Bank of Montreal Can acquired a new position in shares of Smurfit Westrock during the 3rd quarter worth $20,342,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SW shares. Argus initiated coverage on shares of 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. boosted their price target on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Morgan Stanley reduced their price objective on Smurfit Westrock from $66.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Barclays upped their target price on Smurfit Westrock from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Finally, Citigroup lifted their price target on Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Smurfit Westrock has a consensus rating of “Moderate Buy” and an average price target of $60.70.

Smurfit Westrock Stock Down 2.0 %

SW opened at $44.51 on Friday. The firm has a market cap of $23.23 billion, a P/E ratio of 80.93 and a beta of 0.99. The business’s fifty day simple moving average is $50.51 and its 200 day simple moving average is $50.59. Smurfit Westrock Ltd has a 52 week low of $38.55 and a 52 week high of $56.99. The company has a quick ratio of 0.89, a current ratio of 1.37 and a debt-to-equity ratio of 0.72.

Smurfit Westrock (NYSE:SW) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.33). Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. As a group, equities research analysts anticipate that Smurfit Westrock Ltd will post 3.25 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 14th were paid a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Smurfit Westrock’s previous quarterly dividend of $0.30. Smurfit Westrock’s dividend payout ratio is currently 312.73%.

Insider Transactions at Smurfit Westrock

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

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.