Mirae Asset Global Investments Co. Ltd. Acquires 19,788 Shares of Smurfit Westrock PLC $SW

Mirae Asset Global Investments Co. Ltd. raised its holdings in Smurfit Westrock PLC (NYSE:SW) by 27.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,679 shares of the company’s stock after buying an additional 19,788 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Smurfit Westrock were worth $3,507,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. TD Waterhouse Canada Inc. increased its stake in shares of Smurfit Westrock by 113.3% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 640 shares of the company’s stock valued at $27,000 after acquiring an additional 340 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in Smurfit Westrock during the second quarter worth $29,000. Root Financial Partners LLC bought a new position in Smurfit Westrock during the third quarter worth $33,000. Mather Group LLC. acquired a new stake in Smurfit Westrock in the third quarter worth $55,000. Finally, MUFG Securities EMEA plc acquired a new stake in Smurfit Westrock in the second quarter worth $63,000. 83.38% of the stock is currently owned by institutional investors.

Smurfit Westrock Stock Performance

SW opened at $41.24 on Wednesday. Smurfit Westrock PLC has a 1-year low of $32.73 and a 1-year high of $52.65. The company has a market cap of $21.62 billion, a price-to-earnings ratio of 31.00 and a beta of 1.06. The company’s fifty day moving average price is $43.10 and its two-hundred day moving average price is $40.63. The company has a current ratio of 1.48, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73.

Smurfit Westrock (NYSE:SW) last posted its earnings results on Friday, February 27th. The company reported $0.34 EPS for the quarter. Smurfit Westrock had a net margin of 2.24% and a return on equity of 6.10%. The company had revenue of $7.58 billion during the quarter. On average, analysts expect that Smurfit Westrock PLC will post 2.59 EPS for the current fiscal year.

Smurfit Westrock Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Tuesday, February 17th were issued a dividend of $0.4523 per share. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $1.81 dividend on an annualized basis and a yield of 4.4%. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.43. Smurfit Westrock’s dividend payout ratio is presently 136.09%.

Analysts Set New Price Targets

SW has been the topic of several research reports. Royal Bank Of Canada set a $54.00 price objective on shares of Smurfit Westrock and gave the company an “outperform” rating in a report on Thursday, April 16th. UBS Group reduced their target price on Smurfit Westrock from $60.00 to $56.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Wells Fargo & Company decreased their target price on Smurfit Westrock from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 20th. Morgan Stanley dropped their price target on Smurfit Westrock from $61.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, March 6th. Finally, Jefferies Financial Group set a $58.00 price target on Smurfit Westrock in a report on Thursday, February 12th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.91.

Insider Buying and Selling

In related news, CEO Anthony P. J. Smurfit sold 40,000 shares of Smurfit Westrock stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $51.54, for a total transaction of $2,061,600.00. Following the transaction, the chief executive officer owned 1,642,610 shares of the company’s stock, valued at $84,660,119.40. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ken Bowles sold 10,000 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $51.26, for a total value of $512,600.00. Following the sale, the chief financial officer owned 151,644 shares of the company’s stock, valued at $7,773,271.44. This trade represents a 6.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.46% 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.