Investors Research Corp Invests $2.21 Million in Smurfit Westrock Ltd (NYSE:SW)

Investors Research Corp purchased a new stake in Smurfit Westrock Ltd (NYSE:SW) during the third quarter, HoldingsChannel reports. The institutional investor purchased 44,628 shares of the company’s stock, valued at approximately $2,206,000.

Other institutional investors have also made changes to their positions in the company. Mizuho Securities USA LLC bought a new position in shares of Smurfit Westrock during the 3rd quarter worth approximately $386,712,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Smurfit Westrock during the 3rd quarter worth approximately $151,212,000. Thompson Siegel & Walmsley LLC acquired a new position in shares of Smurfit Westrock during the 3rd quarter worth $129,491,000. Swiss National Bank acquired a new stake in shares of Smurfit Westrock in the 3rd quarter valued at approximately $76,082,000. Finally, Vontobel Holding Ltd. bought a new stake in shares of Smurfit Westrock during the third quarter worth $62,832,000. Institutional investors own 83.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SW shares. Morgan Stanley upped their price objective on Smurfit Westrock from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Redburn Atlantic started coverage on shares of Smurfit Westrock in a research report on Friday, August 23rd. They set a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Jefferies Financial Group reiterated a “hold” rating and set a $52.00 price target on shares of Smurfit Westrock in a research note on Monday, July 29th. Finally, Wells Fargo & Company dropped their price target on shares of 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 research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Smurfit Westrock has a consensus rating of “Moderate Buy” and an average price target of $58.00.

Smurfit Westrock Price Performance

SW stock traded down $0.80 during mid-day trading on Thursday, reaching $54.90. 375,731 shares of the company traded hands, compared to its average volume of 5,172,074. The company has a fifty day moving average price of $48.25. The company has a quick ratio of 0.98, a current ratio of 1.48 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $28.56 billion, a P/E ratio of 309.57 and a beta of 1.04. Smurfit Westrock Ltd has a 52-week low of $38.55 and a 52-week high of $55.80.

Smurfit Westrock Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.20%. Smurfit Westrock’s dividend payout ratio (DPR) is presently 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.