Fmr LLC Invests $431.65 Million in Smurfit Westrock Ltd (NYSE:SW)

Fmr LLC purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 8,726,998 shares of the company’s stock, valued at approximately $431,653,000.

Other hedge funds have also added to or reduced their stakes in the company. AMF Tjanstepension AB acquired a new position in Smurfit Westrock during the 3rd quarter valued at about $8,519,000. Czech National Bank bought a new stake in shares of Smurfit Westrock during the third quarter worth approximately $4,967,000. SG Americas Securities LLC acquired a new position in Smurfit Westrock in the third quarter valued at approximately $843,000. Park Avenue Securities LLC bought a new position in Smurfit Westrock in the third quarter valued at approximately $561,000. Finally, GAMMA Investing LLC bought a new position in Smurfit Westrock in the third quarter valued at approximately $249,000. Institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Stock Performance

Shares of SW opened at $55.01 on Friday. The company has a 50 day simple moving average of $49.48. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $56.99. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.48 and a quick ratio of 0.98. The firm has a market cap of $28.61 billion, a price-to-earnings ratio of 305.63 and a beta of 1.04.

Smurfit Westrock Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Friday, November 15th will be given a dividend of $0.3025 per share. This represents a $1.21 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio is 672.26%.

Analyst Ratings Changes

SW has been the topic of a number of analyst reports. Citigroup assumed coverage on Smurfit Westrock in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target on the stock. JPMorgan Chase & Co. raised their target price on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $58.00 price target on shares of Smurfit Westrock in a research note on Friday, November 15th. Redburn Atlantic began coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $58.57.

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.