PNC Financial Services Group Inc. Makes New $2.13 Million Investment in Smurfit Westrock Ltd (NYSE:SW)

PNC Financial Services Group Inc. purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) in the third quarter, HoldingsChannel reports. The firm purchased 43,171 shares of the company’s stock, valued at approximately $2,134,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SW. Mather Group LLC. purchased a new position in Smurfit Westrock during the 3rd quarter valued at about $25,000. CVA Family Office LLC purchased a new position in shares of Smurfit Westrock during the 3rd quarter worth approximately $26,000. ORG Wealth Partners LLC acquired a new position in shares of Smurfit Westrock during the 3rd quarter worth approximately $32,000. Waldron Private Wealth LLC purchased a new stake in Smurfit Westrock in the 3rd quarter valued at approximately $35,000. Finally, Cromwell Holdings LLC purchased a new stake in Smurfit Westrock in the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 83.38% of the company’s stock.

Analysts Set New Price Targets

SW has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Redburn Atlantic started coverage on shares of Smurfit Westrock in a research note on Friday, August 23rd. They issued a “buy” rating and a $60.00 target price for the company. Morgan Stanley raised their price target 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. Citigroup started coverage on shares of Smurfit Westrock in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and set a $58.00 target price on shares of Smurfit Westrock in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Smurfit Westrock Stock Performance

Smurfit Westrock stock opened at $56.25 on Tuesday. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $48.91. The stock has a market capitalization of $29.26 billion, a P/E ratio of 312.52 and a beta of 1.04.

Smurfit Westrock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be given a $0.3025 dividend. This represents a $1.21 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, November 15th. Smurfit Westrock’s dividend payout ratio (DPR) 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.