Elevation Point Wealth Partners LLC Lowers Stock Position in Smurfit Westrock Ltd (NYSE:SW)

Elevation Point Wealth Partners LLC lowered its position in shares of Smurfit Westrock Ltd (NYSE:SW) by 10.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,422 shares of the company’s stock after selling 837 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Smurfit Westrock were worth $334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Smurfit Westrock by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 78,871,259 shares of the company’s stock valued at $4,249,613,000 after buying an additional 820,362 shares during the period. Norges Bank purchased a new position in shares of Smurfit Westrock in the 4th quarter worth about $1,300,041,000. Nuveen Asset Management LLC raised its position in shares of Smurfit Westrock by 51.6% in the 4th quarter. Nuveen Asset Management LLC now owns 20,720,312 shares of the company’s stock worth $1,115,996,000 after purchasing an additional 7,050,781 shares during the last quarter. Capital Research Global Investors raised its position in shares of Smurfit Westrock by 1.8% in the 4th quarter. Capital Research Global Investors now owns 18,439,852 shares of the company’s stock worth $993,170,000 after purchasing an additional 318,806 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Smurfit Westrock by 12.5% in the 4th quarter. Geode Capital Management LLC now owns 14,328,052 shares of the company’s stock worth $769,977,000 after purchasing an additional 1,594,939 shares during the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Analyst Ratings Changes

SW has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Smurfit Westrock from $53.00 to $43.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Barclays lowered their price target on Smurfit Westrock from $68.00 to $64.00 and set an “overweight” rating for the company in a research report on Tuesday, May 13th. Royal Bank of Canada lowered their price target on Smurfit Westrock from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Truist Financial lowered their price target on Smurfit Westrock from $62.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Jefferies Financial Group raised Smurfit Westrock from a “hold” rating to a “buy” rating and lifted their price target for the stock from $44.00 to $55.00 in a research report on Monday. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.50.

Insider Activity

In other Smurfit Westrock news, Director Irial Finan purchased 15,180 shares of Smurfit Westrock stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average price of $39.21 per share, with a total value of $595,207.80. Following the transaction, the director now directly owns 54,893 shares of the company’s stock, valued at $2,152,354.53. This trade represents a 38.22% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.49% of the company’s stock.

Smurfit Westrock Price Performance

Shares of NYSE:SW opened at $43.23 on Tuesday. Smurfit Westrock Ltd has a fifty-two week low of $37.01 and a fifty-two week high of $56.99. The business has a 50-day simple moving average of $42.84 and a two-hundred day simple moving average of $48.08. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.89 and a current ratio of 1.37. The firm has a market cap of $22.57 billion, a price-to-earnings ratio of 78.61 and a beta of 1.04.

Smurfit Westrock (NYSE:SW) last issued its earnings results on Thursday, May 1st. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.08. Smurfit Westrock had a return on equity of 6.16% and a net margin of 0.63%. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.41 billion. The business’s revenue for the quarter was up 161.3% on a year-over-year basis. On average, analysts expect that Smurfit Westrock Ltd will post 3.25 earnings per share for the current year.

Smurfit Westrock Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, May 19th will be given a dividend of $0.4308 per share. This represents a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, May 16th. Smurfit Westrock’s payout ratio is currently 140.98%.

Smurfit Westrock Company 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.