Nordea Investment Management AB Purchases 346,520 Shares of Smurfit Westrock PLC $SW

Nordea Investment Management AB raised its stake in Smurfit Westrock PLC (NYSE:SW) by 6.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,468,249 shares of the company’s stock after buying an additional 346,520 shares during the period. Nordea Investment Management AB owned 1.05% of Smurfit Westrock worth $234,916,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SW. Exchange Traded Concepts LLC boosted its position in Smurfit Westrock by 20.7% in the first quarter. Exchange Traded Concepts LLC now owns 1,721 shares of the company’s stock valued at $78,000 after buying an additional 295 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Smurfit Westrock in the first quarter valued at approximately $490,000. QRG Capital Management Inc. boosted its position in Smurfit Westrock by 106.3% in the first quarter. QRG Capital Management Inc. now owns 11,709 shares of the company’s stock valued at $528,000 after buying an additional 6,032 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Smurfit Westrock by 2.8% in the first quarter. State of Alaska Department of Revenue now owns 57,939 shares of the company’s stock valued at $2,610,000 after buying an additional 1,600 shares in the last quarter. Finally, ORG Wealth Partners LLC boosted its position in Smurfit Westrock by 220.0% in the first quarter. ORG Wealth Partners LLC now owns 2,051 shares of the company’s stock valued at $94,000 after buying an additional 1,410 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SW. Morgan Stanley raised their target price on shares of Smurfit Westrock from $51.00 to $53.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Truist Financial raised their target price on shares of Smurfit Westrock from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Wells Fargo & Company set a $52.00 price target on shares of Smurfit Westrock and gave the stock an “overweight” rating in a report on Tuesday, October 7th. UBS Group assumed coverage on shares of Smurfit Westrock in a report on Monday, September 15th. They set a “buy” rating and a $60.00 price target on the stock. Finally, Barclays cut their price target on shares of Smurfit Westrock from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Smurfit Westrock presently has a consensus rating of “Buy” and an average target price of $57.90.

Smurfit Westrock Price Performance

Shares of NYSE:SW opened at $41.51 on Friday. The firm has a market cap of $21.67 billion, a PE ratio of 62.89 and a beta of 1.09. The firm’s fifty day moving average is $43.88 and its 200-day moving average is $43.81. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.95 and a current ratio of 1.45. Smurfit Westrock PLC has a 52 week low of $37.01 and a 52 week high of $56.99.

Smurfit Westrock (NYSE:SW) last announced its earnings results on Wednesday, July 30th. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.12). Smurfit Westrock had a return on equity of 5.90% and a net margin of 1.14%.The firm had revenue of $7.94 billion for the quarter, compared to the consensus estimate of $7.88 billion. Smurfit Westrock’s revenue was up 167.4% compared to the same quarter last year. Sell-side analysts predict that Smurfit Westrock PLC will post 3.25 earnings per share for the current year.

Smurfit Westrock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, August 15th were paid a dividend of $0.4308 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Friday, August 15th. Smurfit Westrock’s dividend payout ratio (DPR) is currently 260.61%.

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.