Allstate Corp Buys 19,368 Shares of Smurfit Westrock PLC $SW

Allstate Corp grew its holdings in Smurfit Westrock PLC (NYSE:SW) by 106.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 37,542 shares of the company’s stock after acquiring an additional 19,368 shares during the period. Allstate Corp’s holdings in Smurfit Westrock were worth $1,452,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. International Private Wealth Advisors LLC boosted its position in Smurfit Westrock by 3.5% in the 4th quarter. International Private Wealth Advisors LLC now owns 7,152 shares of the company’s stock valued at $277,000 after buying an additional 245 shares during the period. Benjamin Edwards Inc. raised its holdings 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 valued at $292,000 after purchasing an additional 264 shares in the last quarter. AXA S.A. raised its holdings in shares of Smurfit Westrock by 1.3% in the 2nd quarter. AXA S.A. now owns 22,283 shares of the company’s stock valued at $962,000 after purchasing an additional 285 shares in the last quarter. Mariner LLC raised its holdings in shares of Smurfit Westrock by 0.9% in the 3rd quarter. Mariner LLC now owns 31,906 shares of the company’s stock valued at $1,358,000 after purchasing an additional 294 shares in the last quarter. Finally, Creative Planning raised its holdings in shares of Smurfit Westrock by 5.0% in the 3rd quarter. Creative Planning now owns 7,082 shares of the company’s stock valued at $301,000 after purchasing an additional 338 shares in the last quarter. 83.38% of the stock is owned by hedge funds and other institutional investors.

Smurfit Westrock Price Performance

Smurfit Westrock stock opened at $41.15 on Friday. Smurfit Westrock PLC has a 12-month low of $32.73 and a 12-month high of $52.65. The stock has a market cap of $21.58 billion, a P/E ratio of 57.16 and a beta of 0.95. The company has a 50-day moving average price of $39.94 and a 200 day moving average price of $40.49. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.73.

Smurfit Westrock (NYSE:SW) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.57 billion. Smurfit Westrock had a return on equity of 4.96% and a net margin of 1.22%.Smurfit Westrock’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 earnings per share. Sell-side analysts anticipate that Smurfit Westrock PLC will post 2.32 earnings per share for the current year.

Smurfit Westrock Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a $0.4523 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.81 annualized dividend and a dividend yield of 4.4%. Smurfit Westrock’s dividend payout ratio (DPR) is presently 251.39%.

Analyst Ratings Changes

SW has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Smurfit Westrock from $54.00 to $52.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Jefferies Financial Group set a $58.00 price objective on shares of Smurfit Westrock in a report on Thursday, February 12th. Wells Fargo & Company dropped their price objective on shares of Smurfit Westrock from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, March 20th. Wall Street Zen downgraded shares of Smurfit Westrock from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $57.00 price objective on shares of Smurfit Westrock in a report on Wednesday, May 6th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Smurfit Westrock currently has a consensus rating of “Moderate Buy” and an average price target of $53.00.

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.