Smurfit Westrock (NYSE:SW) Trading Down 0.6% – Here’s Why

Smurfit Westrock Ltd (NYSE:SW)’s share price was down 0.6% during trading on Thursday . The company traded as low as $45.50 and last traded at $45.72. Approximately 363,248 shares changed hands during trading, a decline of 92% from the average daily volume of 4,538,326 shares. The stock had previously closed at $46.00.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Morgan Stanley cut their price target on Smurfit Westrock from $66.00 to $64.00 and set an “overweight” rating for the company in a report on Tuesday, March 11th. Argus began coverage on shares of Smurfit Westrock in a research note on Thursday, December 5th. They issued a “buy” rating and a $62.00 price objective for the company. Citigroup boosted their target price on shares of Smurfit Westrock from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on shares of Smurfit Westrock from $65.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Finally, Barclays lifted their price target on Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Smurfit Westrock has a consensus rating of “Moderate Buy” and an average price target of $60.70.

Smurfit Westrock Price Performance

The firm’s fifty day moving average is $51.26 and its 200 day moving average is $50.59. The company has a market capitalization of $23.08 billion, a P/E ratio of 80.39 and a beta of 0.99. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Wednesday, February 12th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.33). Smurfit Westrock had a net margin of 0.63% and a return on equity of 6.16%. As a group, analysts predict that Smurfit Westrock Ltd will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 18th. Stockholders of record on Friday, February 14th were given a dividend of $0.4308 per share. This is an increase from Smurfit Westrock’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.90%. Smurfit Westrock’s dividend payout ratio is presently 312.73%.

Insider Buying and Selling at Smurfit Westrock

In other Smurfit Westrock news, insider Ken Bowles sold 24,225 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $55.06, for a total transaction of $1,333,828.50. Following the completion of the sale, the insider now directly owns 111,458 shares of the company’s stock, valued at approximately $6,136,877.48. This represents a 17.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alvaro Henao sold 4,000 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $53.90, for a total transaction of $215,600.00. Following the sale, the insider now directly owns 44,361 shares of the company’s stock, valued at $2,391,057.90. The trade was a 8.27 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Institutional Investors Weigh In On Smurfit Westrock

Several institutional investors have recently added to or reduced their stakes in SW. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Smurfit Westrock by 24.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 114,732 shares of the company’s stock worth $6,179,000 after buying an additional 22,430 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in Smurfit Westrock during the fourth quarter worth $8,973,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Smurfit Westrock during the 4th quarter worth about $72,812,000. Mackenzie Financial Corp grew its position in shares of Smurfit Westrock by 13.4% during the 4th quarter. Mackenzie Financial Corp now owns 1,473,270 shares of the company’s stock valued at $79,350,000 after acquiring an additional 173,975 shares during the period. Finally, Forum Financial Management LP increased its stake in shares of Smurfit Westrock by 61.9% in the 4th quarter. Forum Financial Management LP now owns 9,779 shares of the company’s stock valued at $527,000 after purchasing an additional 3,738 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.

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.