Smurfit Westrock PLC $SW Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its stake in shares of Smurfit Westrock PLC (NYSE:SW) by 16.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 58,472 shares of the company’s stock after purchasing an additional 8,161 shares during the period. PNC Financial Services Group Inc.’s holdings in Smurfit Westrock were worth $2,523,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC lifted its stake in shares of Smurfit Westrock by 6.9% during the first quarter. Cerity Partners LLC now owns 28,519 shares of the company’s stock worth $1,285,000 after buying an additional 1,845 shares during the period. HighPoint Advisor Group LLC raised its stake in Smurfit Westrock by 27.8% in the 1st quarter. HighPoint Advisor Group LLC now owns 5,363 shares of the company’s stock worth $227,000 after acquiring an additional 1,167 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Smurfit Westrock during the 1st quarter worth about $1,396,000. KLP Kapitalforvaltning AS lifted its position in Smurfit Westrock by 1.9% during the 1st quarter. KLP Kapitalforvaltning AS now owns 176,671 shares of the company’s stock worth $7,961,000 after acquiring an additional 3,300 shares during the period. Finally, IMA Advisory Services Inc. purchased a new stake in Smurfit Westrock during the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 83.38% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Seaport Res Ptn raised Smurfit Westrock from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Morgan Stanley restated an “overweight” rating and issued a $52.00 price objective on shares of Smurfit Westrock in a research report on Monday, November 3rd. Barclays cut their target price on shares of Smurfit Westrock from $63.00 to $47.00 and set an “overweight” rating for the company in a report on Monday, November 10th. Royal Bank Of Canada lowered their price target on shares of Smurfit Westrock from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Finally, Wells Fargo & Company cut their price objective on shares of Smurfit Westrock from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $55.30.

Smurfit Westrock Stock Down 0.2%

SW stock opened at $33.84 on Wednesday. Smurfit Westrock PLC has a 12 month low of $33.60 and a 12 month high of $56.99. The company has a current ratio of 1.48, a quick ratio of 0.95 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average of $40.68 and a two-hundred day moving average of $43.31. The company has a market cap of $17.67 billion, a price-to-earnings ratio of 23.66 and a beta of 1.12.

Smurfit Westrock (NYSE:SW) last posted its earnings results on Wednesday, October 29th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.10). Smurfit Westrock had a net margin of 2.40% and a return on equity of 6.21%. The business had revenue of $8 billion during the quarter, compared to analysts’ expectations of $7.89 billion. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, analysts forecast that Smurfit Westrock PLC will post 3.25 earnings per share for the current fiscal year.

Smurfit Westrock Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Friday, November 14th will be issued a $0.4308 dividend. This represents a $1.72 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Friday, November 14th. Smurfit Westrock’s dividend payout ratio is 120.28%.

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.