Wellington Management Group LLP Boosts Stock Position in Smurfit Westrock PLC $SW

Wellington Management Group LLP lifted its stake in Smurfit Westrock PLC (NYSE:SW) by 38.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 662,595 shares of the company’s stock after acquiring an additional 183,125 shares during the period. Wellington Management Group LLP’s holdings in Smurfit Westrock were worth $30,652,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SW. Public Employees Retirement System of Ohio purchased a new stake in Smurfit Westrock during the 2nd quarter worth about $7,484,000. Manning & Napier Advisors LLC bought a new stake in shares of Smurfit Westrock during the second quarter valued at about $1,161,000. Paradigm Capital Management Inc. NY bought a new stake in shares of Smurfit Westrock during the second quarter valued at about $841,000. Cullen Capital Management LLC purchased a new stake in shares of Smurfit Westrock in the second quarter worth about $62,885,000. Finally, Advisors Preferred LLC bought a new position in shares of Smurfit Westrock in the second quarter valued at approximately $3,446,000. 83.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on SW. Wall Street Zen raised shares of Smurfit Westrock from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Seaport Research Partners reissued a “buy” rating and issued a $54.00 price target on shares of Smurfit Westrock in a report on Wednesday, August 12th. Citigroup upped their price target on shares of Smurfit Westrock from $56.00 to $57.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Barclays lifted their price objective on Smurfit Westrock from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Finally, Morgan Stanley upped their target price on Smurfit Westrock from $57.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, August 27th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.69.

Smurfit Westrock Stock Up 1.5%

SW opened at $45.92 on Friday. The stock has a market cap of $24.09 billion, a PE ratio of 48.85, a P/E/G ratio of 1.45 and a beta of 0.95. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.73. Smurfit Westrock PLC has a 52 week low of $32.73 and a 52 week high of $52.65. The business’s fifty day simple moving average is $46.70 and its 200 day simple moving average is $43.58.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). Smurfit Westrock had a net margin of 1.59% and a return on equity of 4.60%. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the business earned ($0.05) EPS. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts expect that Smurfit Westrock PLC will post 1.98 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be issued a dividend of $0.4523 per share. This represents a $1.81 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 14th. Smurfit Westrock’s dividend payout ratio (DPR) is currently 192.55%.

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.