Retirement Systems of Alabama Lowers Holdings in Smurfit Westrock PLC $SW

Retirement Systems of Alabama trimmed its holdings in shares of Smurfit Westrock PLC (NYSE:SW) by 84.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,377 shares of the company’s stock after selling 616,810 shares during the period. Retirement Systems of Alabama’s holdings in Smurfit Westrock were worth $4,741,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SW. Ethic Inc. boosted its stake in shares of Smurfit Westrock by 0.6% in the 2nd quarter. Ethic Inc. now owns 41,103 shares of the company’s stock worth $1,770,000 after buying an additional 254 shares during the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Smurfit Westrock by 1.9% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,551 shares of the company’s stock valued at $585,000 after purchasing an additional 258 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Smurfit Westrock by 4.1% in the 2nd quarter. Benjamin Edwards Inc. now owns 6,776 shares of the company’s stock worth $292,000 after purchasing an additional 264 shares during the period. AXA S.A. boosted its holdings in shares of Smurfit Westrock by 1.3% in the second quarter. AXA S.A. now owns 22,283 shares of the company’s stock worth $962,000 after buying an additional 285 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of Smurfit Westrock by 12.6% during the 2nd quarter. Penserra Capital Management LLC now owns 2,779 shares of the company’s stock worth $119,000 after acquiring an additional 312 shares during the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Trading Down 1.2%

Shares of NYSE:SW opened at $41.60 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.48 and a quick ratio of 0.97. The business’s 50-day moving average is $39.17 and its 200 day moving average is $41.37. Smurfit Westrock PLC has a 1 year low of $32.73 and a 1 year high of $55.54. The firm has a market capitalization of $21.72 billion, a P/E ratio of 29.09 and a beta of 1.09.

Smurfit Westrock (NYSE:SW) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.10). The business had revenue of $8 billion for the quarter, compared to analyst estimates of $7.89 billion. Smurfit Westrock had a net margin of 2.40% and a return on equity of 6.21%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts predict that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SW has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Smurfit Westrock in a research report on Monday, December 29th. Morgan Stanley restated an “overweight” rating on shares of Smurfit Westrock in a research report on Thursday, January 8th. Zacks Research upgraded Smurfit Westrock from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. Truist Financial reduced their price target on shares of Smurfit Westrock from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. Finally, Citigroup dropped their price target on Smurfit Westrock from $49.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.60.

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.