CIBC Asset Management Inc Buys New Holdings in Smurfit Westrock Ltd (NYSE:SW)

CIBC Asset Management Inc acquired a new stake in Smurfit Westrock Ltd (NYSE:SW) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 72,654 shares of the company’s stock, valued at approximately $3,591,000.

A number of other institutional investors also recently modified their holdings of SW. Mather Group LLC. bought a new position in Smurfit Westrock during the 3rd quarter valued at approximately $25,000. CVA Family Office LLC purchased a new position in shares of Smurfit Westrock during the third quarter valued at approximately $26,000. ORG Wealth Partners LLC bought a new position in shares of Smurfit Westrock during the third quarter valued at approximately $32,000. Waldron Private Wealth LLC purchased a new stake in Smurfit Westrock in the third quarter worth $35,000. Finally, Cromwell Holdings LLC bought a new stake in Smurfit Westrock in the third quarter valued at $42,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on SW shares. JPMorgan Chase & Co. decreased their price objective on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $58.00 price objective on shares of Smurfit Westrock in a report on Friday. Citigroup started coverage on Smurfit Westrock in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 target price for the company. Morgan Stanley lifted their price target on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Redburn Atlantic began coverage on Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Smurfit Westrock Trading Up 3.5 %

NYSE SW opened at $53.45 on Tuesday. The business has a fifty day moving average of $47.63. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.98 and a current ratio of 1.48. The stock has a market capitalization of $27.80 billion, a PE ratio of 296.96 and a beta of 1.04. Smurfit Westrock Ltd has a 12 month low of $38.55 and a 12 month 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 paid a dividend of $0.3025 per share. 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 dividend payout ratio is currently 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.