Assetmark Inc. Purchases Shares of 1,192 Smurfit Westrock Ltd (NYSE:SW)

Assetmark Inc. acquired a new position in shares of Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,192 shares of the company’s stock, valued at approximately $59,000.

Several other institutional investors also recently modified their holdings of SW. Vontobel Holding Ltd. acquired a new position in Smurfit Westrock in the third quarter worth about $62,832,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Smurfit Westrock in the 3rd quarter valued at approximately $39,627,000. Principal Financial Group Inc. acquired a new position in shares of Smurfit Westrock in the 3rd quarter worth approximately $29,716,000. New York State Common Retirement Fund acquired a new stake in Smurfit Westrock in the 3rd quarter valued at $22,299,000. Finally, Boston Common Asset Management LLC acquired a new stake in Smurfit Westrock in the 3rd quarter valued at $16,262,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Redburn Atlantic initiated coverage on Smurfit Westrock in a report on Friday, August 23rd. They set a “buy” rating and a $60.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and set a $58.00 price target on shares of Smurfit Westrock in a report on Friday. Morgan Stanley upped their price objective on shares of Smurfit Westrock from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Jefferies Financial Group reiterated a “hold” rating and issued a $52.00 target price on shares of Smurfit Westrock in a research note on Monday, July 29th. Finally, Wells Fargo & Company decreased their price target on Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.00.

Smurfit Westrock Trading Up 3.5 %

Shares of SW stock opened at $53.45 on Tuesday. 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 capitalization of $27.80 billion, a price-to-earnings ratio of 290.35 and a beta of 1.04. The business’s 50 day moving average is $47.63. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $54.32.

Smurfit Westrock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be given a $0.3025 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a yield of 2.26%. Smurfit Westrock’s payout ratio is 672.26%.

About Smurfit Westrock

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.