Retirement Systems of Alabama Sells 10,878 Shares of Smurfit Westrock PLC $SW

Retirement Systems of Alabama lowered its holdings in Smurfit Westrock PLC (NYSE:SW) by 1.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 728,187 shares of the company’s stock after selling 10,878 shares during the quarter. Retirement Systems of Alabama’s holdings in Smurfit Westrock were worth $31,421,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Zions Bancorporation National Association UT acquired a new position in shares of Smurfit Westrock during the first quarter valued at about $29,000. IMA Advisory Services Inc. purchased a new position in Smurfit Westrock during the first quarter valued at approximately $30,000. Whipplewood Advisors LLC lifted its stake in shares of Smurfit Westrock by 50.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 1,026 shares of the company’s stock valued at $44,000 after purchasing an additional 342 shares during the period. SVB Wealth LLC acquired a new stake in shares of Smurfit Westrock during the 1st quarter valued at about $49,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Smurfit Westrock by 81.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,130 shares of the company’s stock valued at $49,000 after acquiring an additional 507 shares during the period. Institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Stock Down 4.7%

SW stock opened at $36.06 on Friday. The stock has a market capitalization of $18.83 billion, a P/E ratio of 25.21 and a beta of 1.09. Smurfit Westrock PLC has a one year low of $35.87 and a one year high of $56.99. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.95 and a current ratio of 1.48. The company has a 50 day moving average price of $43.54 and a two-hundred day moving average price of $43.84.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.10). Smurfit Westrock had a return on equity of 6.21% and a net margin of 2.40%.The business had revenue of $8 billion during the quarter, compared to analyst estimates of $7.89 billion. Smurfit Westrock’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that Smurfit Westrock PLC will post 3.25 EPS for the current year.

Smurfit Westrock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, November 14th will be issued a $0.4308 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.72 annualized dividend and a dividend yield of 4.8%. Smurfit Westrock’s dividend payout ratio is 260.61%.

Analyst Ratings Changes

Several equities research analysts have issued reports on SW shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Smurfit Westrock in a research note on Wednesday, October 8th. Truist Financial reduced their price objective on shares of Smurfit Westrock from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on Smurfit Westrock from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Seaport Res Ptn upgraded shares of Smurfit Westrock from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Morgan Stanley lifted their price target on shares of Smurfit Westrock from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Smurfit Westrock currently has an average rating of “Buy” and an average price target of $57.00.

Smurfit Westrock Company 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.