17,353 Shares in Smurfit Westrock Ltd (NYSE:SW) Acquired by Synovus Financial Corp

Synovus Financial Corp bought a new stake in Smurfit Westrock Ltd (NYSE:SW) during the third quarter, HoldingsChannel reports. The institutional investor bought 17,353 shares of the company’s stock, valued at approximately $858,000.

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

Insiders Place Their Bets

In other Smurfit Westrock news, insider Saverio Mayer sold 25,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $54.84, for a total transaction of $1,371,000.00. Following the transaction, the insider now owns 149,911 shares of the company’s stock, valued at approximately $8,221,119.24. This trade represents a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Smurfit Westrock Stock Performance

NYSE:SW opened at $54.70 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 0.98 and a debt-to-equity ratio of 0.73. Smurfit Westrock Ltd has a 1 year low of $38.55 and a 1 year high of $56.99. The firm has a market cap of $28.45 billion, a PE ratio of 298.52 and a beta of 1.04. The business’s 50-day simple moving average is $50.71.

Smurfit Westrock Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Friday, November 15th will be paid a $0.3025 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.21 annualized dividend and a yield of 2.21%. Smurfit Westrock’s dividend payout ratio is currently 672.26%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SW shares. Wells Fargo & Company dropped their price objective on shares of Smurfit Westrock from $53.00 to $50.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Barclays upped their price objective on Smurfit Westrock from $60.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. Redburn Atlantic started coverage on Smurfit Westrock in a report on Friday, August 23rd. They issued a “buy” rating and a $60.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Smurfit Westrock from $65.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Finally, Argus initiated coverage on Smurfit Westrock in a research report on Thursday, December 5th. They issued a “buy” rating and a $62.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.00.

Smurfit Westrock Profile

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.